Andrew Hoag
Founder & CEO at Teampay
It's very different. One of the things that people don't really understand, unless you're in the finance team, is that it costs the company the same to process a ten dollar purchase as a $10,000 purchase. Looking at it on a dollar basis, there's all this distortion that happens. But you actually need to look at it on a request or transaction basis, because that's where the friction is, and that's where software can help remove some of that friction. There are some interesting opportunities on the payroll side that we've been looking at and talking about, so I think we're still keeping an eye on that. It's probably easier to go to that side than it is to come back to the procurement side, to be honest.
Teampay is an expense management platform that enables companies to manage request to payment workflows.