The Sheet Society logo

How The Sheet Society launched into hypergrowth by automating their financial processes

Discover how this Melbourne-based bedding mecca transformed their financial operations while also driving bottom line savings.

Get started
Hero Banner Image

AUD$12,000

saved each month from currency conversion fees on global expenses

2.5%

savings on SaaS such as Shopify, Klaviyo and others

4+ hours

saved each week from simplified processes

The Sheet Society creates a memorable night's sleep with a timeless range of bed sheets, quilt covers and pillowcases.

Industry

eCommerce

Location

Melbourne, Australia

Company size

20 - 50 employees

Airwallex Products Used

Cards
Get started

The challenge

With explosive growth, The Sheet Society was experiencing their currency conversion and transaction fees quickly added up to a significant monthly amount. The team needed a simple, cost-effective and scalable way to manage their global expenses.

Expensive FX fees when paying their international suppliers in USD

The Sheet Society was using a domestic Australian bank account to pay their international suppliers. This resulted in expensive currency conversion fees on their growing supplier orders.

Physical corporate card with 2.5% foreign transaction fees

The team used this card to pay for their global SaaS subscriptions, including Shopify subscription fees and other USD-based eCommerce tools. With the team growing, it also became challenging to make card payments with a single, physical card.

Hayley Worley

Founder

“We couldn’t just look at the cost of the product, but also the cost of selling that product. We needed to factor in things like digital marketing spend, merchant fees and currency conversion fees on each sale.”

The solution

By paying their global suppliers and SaaS subscriptions through Airwallex, The Sheet Society has saved over AUD$12,000 each month. The team has also saved 4 hours each week by automating recurring payments and integrating into Xero for easy multi-currency reconciliation by the hour. This has allowed the team to re-invest back into the business to keep up with customer demand.

Andy Worley

Co-Owner & Director

“These small percentages here and there add up over time with a real bottom line impact. When I see the rates are good, I’ll convert my AUD into USD, knowing that I’ve saved money that I can re-invest into the business in the long-run.”

About The Sheet Society

The Sheet Society was dreamt up by Hayley and Andy Worley in 2017, with a simple idea to create a memorable night’s sleep that is uncomplicated and stress-free. From humble beginnings in a shared working space to their second warehouse expansion, the team has experienced a staggering increase in sales since COVID-19. The bedding mecca is now gearing up for launching into the US and UK.

The Sheet Society has blown apart the industry norm of buying in ‘sets’ and overemphasis on thread counts. With The Sheet Society, it’s simple to ‘mix and match’. Customers don’t need to worry about ‘matching sets’ anymore, with a timeless colour palette to choose from that compliments across all ranges.

How The Sheet Society build their business with Airwallex

Saved over AUD$12,000 on global supplier and SaaS subscriptions each month

The team could track and preemptively convert their AUD into USD with Airwallex’s transparent FX rates. This translated into real bottom-line impact, allowing the team to re-invest every dollar into the long-run of the business.

With 0% international card transaction fees on Airwallex virtual cards, the team could also save on their SaaS subscriptions, especially on their growing Shopify fees. With a growing team, being able to create a new virtual card in seconds has made it easy to empower a new employee.

Automated recurring payments and processes

The team has saved hours each week with Airwallex’s multi-currency Xero integration and batch payments feature. This saved hours of manual work for the team while creating scalable processes for the team as they expand.

Fast-tracked global expansion

As The Sheet Society gears up to launch in the US and UK, Airwallex Global Accounts have taken the hassle out of setting up foreign accounts. The team can set up US and UK local accounts, connect to AfterPay and collect in local currency in minutes.


Our products and services are provided by Airwallex Pty Ltd ABN 37 609 653 312 who holds AFSL 487221. Any information provided is for general information purposes only and does not take into account your objectives, financial situation or needs. Testimonials and case studies describe how our clients use our products and services. As such, the quoted savings are an estimate only and are not indicative of your actual savings. You should consider the appropriateness of the information in light of your own objectives, financial situation or needs. Please read and consider the Product Disclosure Statement available on our website before using our service. 

More stories from Airwallex customers

How Hawkeye Vintage saves $10,000 each month on international payments
How Coconut Bowls boosts profit margins by 2 - 3% with Airwallex Global Accounts
How Dovetail regained control of team spend and reduced SaaS bills by 15%

See how our customers are finding Airwallex

“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.”
Warren Durling

Chief Operating Officer, Dovetail

“Airwallex has been a game changer for us. I cannot recommend these guys enough. The forex services are super efficient and super competitive. The customer service is not gold-plated, it's solid gold. One of the best eCommerce services for merchants we have come across since Paypal hit the scene 20 years ago."
Murray Kester

CEO, Cosmetics Now

“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

Co-founders, Crockd

“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

Finance Manager, Zoomo

Watch a 3-minute demo

Enter your details below to watch the demo:
Loading...

We're not a bank, we're better.

Get started
Business Account
Global Accounts
Payment LinksBeta

© Airwallex 2021. All rights reserved.

In Australia, our products and services are provided by Airwallex Pty Ltd ABN 37 609 653 312 who holds AFSL 487221. Any information provided on this website is for general information purposes only and does not take into account your objectives, financial situation or needs. You should consider the appropriateness of the information in light of your own objectives, financial situation or needs. Please read and consider the Product Disclosure Statement.

Cookies on the Airwallex website

We use cookies to give you a better experience on our website. If you continue without changing your settings, we’ll assume that you are happy to receive cookies. However, if you would like to, you can change your cookie settings at any time here

Find out more