Plooto enabled CloudOps to Pay Suppliers and Contractors On Time
"I have more control over our payments systems with Plooto. I can get authorization from our CEO remotely."
PETER TAYLOR, CloudOps
Since 2005, CloudOps has enabled hundreds of enterprises and web-based companies to build their businesses in the cloud. CloudOps provide private, public and hybrid cloud solutions for businesses seeking scalability, and for enterprises making their move to the cloud. Their best-in-class cloud architecture and proven approaches allow companies to confidently, securely, and reliably capture business opportunities while achieving higher levels of performance.
With the growing and changing nature of their business, Peter Taylor, who is responsible for accounts payable and receivable at CloudOps, was looking to outsource any administrative tasks so he can focus on growing the business. CloudOps has grown from 12 to 30 people and from $2M to $6M annual revenue in a few short years. As the company grew, the process for the accounts payable and receivable changed. Peter had to pay a lot of vendors and collect money from several clients. This growth meant that the CEO spent more time on business travel, which made it challenging for Peter to get his authorization on cheques. Peter was frustrated that he wasn't able to pay his vendors on time.
LOOKING FOR A SOLUTION
CloudOps' accountant referred Peter to Plooto. He chose Plooto over other solutions because he can control when the funds were debitted from their business account. Plooto also had deep level integration with Xero so it can import CloudOps' bills, invoices, payees, customers and bank accounts from their accounting platform.
Plooto has enabled CloudOps to speed up their payment process by up to 95%. What used to take 15 to 30 minutes to prepare, send and reconcile payments now takes less than 1 minute. Before, Peter had to organize the payments, load up the printer with cheque paper and chase down the CEO to get authorization. Now he can pay their suppliers, vendors and contractors online with just one click. He can also request payments from their clients and receive the funds in their bank account in as little as 2 days. Plooto then automatically reonciles their payables and receivables with Xero.
According to Peter, "I have more control over our payments systems with Plooto. It was pretty simple and straightforward to set up and has saved CloudOps time and money."