Case Study
How Bioma Revolutionizes Team Efficiency by Saving 75% of Time for Extracting Expenses Data Each Month
Jack has revolutionized the process of obtaining virtual cards, making it incredibly fast and efficient. With Jack's virtual card feature, managing transactions has become significantly easier. Bioma can effortlessly assign a virtual card to each division, enabling them to make transactions within predefined limitations set from the beginning.
See How Much Bioma has Saved with Jack
50%
Saved working time per month
72 Hours
Streamlined reimbursement process per months
Industry
Procurement and Rent
Product Used
Local Transfer
Corporate Card (Virtual)
Reimbursement
Payroll
Favorite Features
Payroll automation
Real-time local transfer
Control spending limit on each card
AI & OCR powered invoice reader
"Jack has revolutionized our finance team's efficiency by enabling us to save 50-75% of our time spent on extracting expense data. Previously, it would take us 3-4 days to compile all the necessary information, but now we can accomplish the task in just 1 day."
Arlo Erdaka, Chief Executive Officer and Cofounder Bioma
Background
Bioma, a Product-as-a-Service startup that enables consumers to rent various types of physical assets. Bioma is the platform that provides customers access to higher quality goods, including a large assortment of products in the healthcare, fnb & technology, with significant cost savings by offering a pay-per-use system. Under the pay-per-use system, the customers will pay the fee based on the usage of the on-demand product, and the responsibility of the products is managed by Bioma.
The co-founder of Bioma and Jack have a shared background, originating from East Ventures, their mutual investor. This connection intrigued the co-founder of Bioma, to explore Jack's products. As they continued to engage with Jack's products over time, the co-founder of Bioma gradually experienced the convenience and ease of each of Jack's products.
With Jack, team members can effortlessly capture receipts in the app and portal, processed automatically through OCR & AI technology.
How Jack Helps Bioma
Complex Flow of Business Card Acquisition to Simplified Experience
As a startup, the process of obtaining a credit card from traditional banks presented numerous challenges. Jack has revolutionized the process of obtaining virtual cards, making it incredibly fast and efficient. With Jack's virtual card feature, managing transactions has become significantly easier. Bioma can effortlessly assign a virtual card to each division, enabling them to make transactions within predefined limitations set from the beginning.
Limited Expense Tracking to One Tap Streamlined Financial Operations
Without access to a credit card, Bioma’s ability to allocate and track budgets for each of Bioma’s teams was limited. With Jack's automated expense tracking, Bioma no longer needs to painstakingly go through each expense individually. Jack grants Bioma the superpower to effortlessly simplify and streamline financial operations.
Time-Consuming Manual Process to Efficient Reimbursement
Typically, it may take up to 3-4 days for a reimbursement request to be processed. The reimbursement process itself involves time-consuming manual processes. With Jack, team members can effortlessly capture receipts in the app and portal, processed automatically through OCR & AI technology. This saves time by minimizing manual data entry. Bioma's approval workflow has been optimized for efficiency, enabling reimbursements to be approved in under 3 seconds anytime and anywhere. All the reimbursement data history is neatly stored in the Jack app, there's no need to worry about any missed data.
Exhausting Manual Disbursement to Automated Bulk Payment
As a company that collaborates with numerous partners, Bioma faces a recurring challenge each month when it comes to disbursing payments. Jack's real-time local transfer helps Bioma streamline and expedite their payment process with ease. By integrating Jack's automated payment system into Bioma’s workflow, they can bid farewell to the painstaking manual upload of client data for each transaction. In addition to facilitating payments to partners, Bioma can harness the benefits of the Jack automated payroll system for streamlining their payroll processes.
Manual Hassle to All Things Automated
Bioma faced the challenge of managing a complex payment process, which involved sending money in bulk and ensuring accuracy while processing multiple transactions. With Jack, Bioma can send money in bulk and process it in a single transaction. Jack validation system could also help verify recipient data before proceeding with transactions. Not only will this automation simplify Bioma’s payment process, but it will also reduce the likelihood of errors and discrepancies.
Hassle-free Reimbursement at Your Fingertips
Snap & submit expenses in seconds with our easy-to-use mobile app on the go and get paid in no time
