Published: May 28, 2021, 11:11 Updated: June 7, 2021, 10:14In 2019, United Spaces chose to sign an agreement with Payer, a startup in B2B payments, to resolve payments for its members at coworking offices in Sweden. Now United Spaces is expanding with five new offices in the country and in the center is a payment solution that has greatly reduced the costs for the finance department. The collaboration between the two companies started when United Spaces explored the market for a partner who could both design but process payment flows in B2B. The requirement was to make the customer experience really good for its members but also to solve the manual handling of invoicing in the finance department. The technical solution was an integration of Payers API platform with United Spaces mobile membership app but also with their accounting system Fortnox. The result after a year of collaboration surprised Joakim Helbig, CFO at United Spaces. – There was a time before and after Payer. The result after we implemented Payer's platform has been fantastic for the finance department. We now spend 80% less time on payment processing and collection. In addition, invoices are paid by our members 30% faster. It is a clear proof that we have managed to raise the payment experience to a really high level, he says.
Becomes a long-term partner
Now that United Spaces is expanding across the country, from four to a total of nine offices, they have chosen Payer as a long-term partner. The tenth coworking place will open in the autumn. – I believe that this system that we have built together with Payer can serve as a template for the finance department of the future. Digitization and automation are meant to make working life easier and more efficient. We have achieved just that and much more with Payer. There is no need to stick to manual processes to invoice, monitor and post when it can be handled completely automatically. Now that we are expanding, we want to continue the journey with Payer, says Joakim Helbig. Peder Berge is the CEO and founder of Payer. – We are of course incredibly happy that we have gained increased confidence from United Spaces in their continued expansion. We have worked hard to get the details of the payment solution and it has borne fruit. Magic is created through hard work and the results we have achieved with United Spaces speak for themselves. We look forward to helping more Swedish companies become more efficient, get better cash flow and get higher margins, he says.
What? A payment solution for B2B in coworking offices in the real estate industry.How?Integration of Payers API with the membership app for iOS and Android. An integration was also made with the accounting system Fortnox to automate invoicing, the requirements chain, incoming payments and reconciliations.Results:Automation made it possible to spend 80% less time on the payment process. With Payers invoicing service, the customer got paid faster, which increased cash flow. Invoices are paid 27% faster by the members. The proportion of invoices paid after 30 days has been reduced by 21%.Read the whole case here.