Clipchamp empowered their fast-growing, global teams with Airwallex
How Clipchamp streamlined global team spend and payments with Airwallex to match their rapid pace of growth, while retaining full visibility and saving over $1,500 each month from unnecessary currency conversion fees.
Clipchamp offers a comprehensive video editing, recording, compression and conversion platform, with over 12 million users globally. Clipchamp needed a seamless, scalable and cost-effective way to manage their global cash flow and rapidly growing teams. The team had trialled another foreign currency solution but had quickly hit limitations. This frustration led them to Airwallex for a more scalable solution.
Single, physical card slowed their fast-growing team to make needed purchases to scale
As the Clipchamp team expanded globally, a single physical corporate card could not keep up. It was difficult to track who was spending and set the right card spend limits.
Bottlenecked global procurement and payment processes
The team only had a single account that could make the payment, and bottlenecking the process to one person. The team needed a smarter way to make approved payments fast, with the right permissions and access controls.
Rising SaaS subscription spend and cloud costs
As a technology company, cloud and SaaS subscriptions are significant expenses for Clipchamp. Despite being an Australia technology company, their technology spend was increasingly in USD. The team wanted to eliminate the additional unnecessary and expensive conversion fees on top of this.
Clipchamp empowered their global teams with virtual cards and the right access to view, book or approve international payments. This accelerated the team's ability to make important purchases or payments to scale.
The finance team now have real-time visibility of global expenses in a single place, synced directly with their Xero account. Setting up a new employee card, with the right spend controls and login access could now happen in minutes, not days.
On top of that, Clipchamp saves over $1,500 each month on their cloud and SaaS spend with 0% international card transaction fees.
“Airwallex has unlocked a much more efficient way of managing our money that we couldn’t do before. Our previous provider could not scale the way we needed it to. Now, our team is freed up to tackle the more important work on how ClipChamp expands globally.”
Clipchamp offers a comprehensive video editing, recording, compression and conversion platform, with their product suite expanding as rapidly as their global following. Clipchamp has enjoyed explosive growth in the past year and has seen them triple their staff to keep up with their 12 million registered users.
Alongside Clipchamp’s growth in revenues and teams, they needed a better way to manage payments, thus turning to Airwallex. Clipchamp found that the financial accessibility of Airwallex’s platform made them more flexible than traditional providers.
How Clipchamp streamlines global payments and team expenses with Airwallex
Empowered their fast-growing, global teams with employee virtual cards
With Airwallex’s Borderless employee virtual cards, the finance team could issue a dedicated virtual card for each new team member or expense in minutes. As these cards were multi-currency, the same card could be used for their US and Australia teams. Clipchamp now had a real-time view of their employee card spend and SaaS subscriptions. They could also set flexible limits for each card to keep their teams on budget.
Streamlined global procurement and payments process with the right levels of access extended to the team
The team now had dedicated roles with the right level of access to view, create and approve payments. This created a scalable, secure and fast process for their global team to request and approve payments.
“Airwallex’s website is transparent and easy to use. It’s allowed my team to self-serve and create what we need to suit our growing business and teams. Whether it’s logins or virtual card for a new employee, it’s easy to create and gives us the visibility and control we need.”
Saved $1,500 each month on USD cloud and SaaS spend, paid directly with USD revenues at no extra cost
With Airwallex US Global Accounts, the team could continue to collect their USD revenues and pay USD expenses directly with no additional conversion or transaction fees. With the ability to collect, hold and pay in 11 major currencies, the team is confident that Airwallex is a global business account that can scale alongside Clipchamp.
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See how our customers are finding Airwallex
“Airwallex provides us with flexibility and cost savings in dealing internationally. We used Airwallex to receive our recent global fundraising round and pay international suppliers and are saving at least 5% per dollar transferred versus the big banks.”
George van Dyck
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“Airwallex is our one-stop shop for all our banking needs, in one easy-to-use interface. Without Airwallex, we would not have been able to scale our business as fast as what we’ve been able to achieve.”
Andrew Ford and Rosa-Clare Willis
“Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees.”
Chief Operating Officer, Dovetail
“Airwallex has made it really easy to pay our suppliers in any currency. We have not only saved $10,000 each month, but our suppliers now get their payments faster and in-full. We receive a notification once it’s dispatched, and it eliminates the worry factor of where our money is at. This is important for us to keep building a strong relationship with our suppliers.”
Director, Hawkeye Vintage