How Air Doctor replaced multiple providers with one unified global platform

Aviva Friedman

VP of Finance, Air Doctor

“Before Airwallex, we had multiple platforms and systems in place. Most payments were processed manually, making the work cumbersome and prone to human error.”

The challenge

What happens when a brilliant idea meets the complex reality of global finance? For Air Doctor, it was a barrier to growth.

Air Doctor works with providers and patients in 90+ countries, which means the company routinely handles many currencies, receives frequent customer payments, and makes disbursements to its partners. As a result, moving funds reliably and efficiently between multiple currencies is a crucial part of Air Doctor’s financial operations.

“Before Airwallex, we had multiple payment platforms and systems in place,” begins Aviva Friedman, VP of Finance at Air Doctor. “Most of our payments were processed manually through these various platforms, and required manual input in our back-office system, making the work cumbersome and prone to human error. On top of that, reconciliations had to be done manually, and working in this way became a major drain on the team’s time.”

As a growing company, Air Doctor recognised that overcoming these challenges would be critical to its continued scale. “As our volume of operations increased,” says Aviva, “we knew there had to be a better way to work.”

Air Doctor began searching for a unified financial platform to replace its complex web of banks and providers. The ideal solution had to integrate directly with the existing platform: automating payments, lowering foreign exchange (FX) costs, and providing multi-currency cards to streamline employee spending.

The solution

Automating global payouts with a unified platform

Airwallex replaced the cumbersome, multi-platform system with a single point of control. By automating inbound payments and outbound payouts through one integrated platform, the headache of manual international transactions became a thing of the past.

“Airwallex is now integrated directly into our system,” explains Aviva. “So we’ve eliminated most of the other finance platforms we used to work with and migrated 90% of our payments volume to Airwallex. We’ve automated our payment flow, so we can process both outbound payouts and inbound credit card payments directly through our system.” 

The impact on the finance team was huge. By finally eliminating the endless reconciliations and frustrating errors, Airwallex freed the team from the manual tasks that had drained their time and energy, allowing them to focus on more strategic, high-value work and save hours each week.

Cost-effective currency conversions 

The Airwallex solution has made a difference to Air Doctor’s bottom line, too.

By using Airwallex FX and transfers, Air Doctor can facilitate fast and cost-effective international payments. “We have massively saved on processing fees,” continues Aviva. “Being able to make payments globally at the cost of a local transfer has led to dramatic savings.” 

Not only does Air Doctor get access to interbank exchange rates with the Airwallex FX solution, but the team can also mitigate the potential financial risks associated with currency fluctuations.

“By working with Airwallex, we can now handle more transactions,” says Aviva. “Plus, we’ve saved over 45% on average on per-transaction costs by using Airwallex instead of our previous banking partners.”

Streamlining employee spend with Corporate Cards

Air Doctor has rolled out Airwallex multi-currency Corporate Cards to employees. These have enabled employees to pay for purchases directly from Air Doctor’s Airwallex accounts, eliminating the foreign transaction fees and other hidden charges that traditional banking partners typically impose. 

Using Corporate Cards has delivered substantial financial savings, enabling the ambitious healthcare platform to reinvest every dollar back into company growth.

Aviva and her team can now manage a higher volume of global transactions than before with the same employee headcount. In addition, adopting a more automated approach has driven efficiencies, saving precious time and effort, and reducing errors. Most importantly, this has better positioned the company for accelerated global growth.

Aviva Friedman

VP of Finance, Air Doctor

“Thanks to Airwallex, we’ve eliminated duplicate processes, costly errors, and endless reconciliations in favour of streamlined global financial operations. It’s costing us less, too.”

Results

The impact of this new, streamlined financial infrastructure was immediate and significant.

Efficiency that scales: As Air Doctor scaled, the finance team was able to handle double the transaction volume without any additional headcount, thanks to greater automation. The system now automatically recognises and reconciles payments, eliminating duplicate processes and human error. “The system recognises in real-time what was actually paid,” explains Aviva, “and our billing process works without unreliable manual intervention.”

Dramatic cost reduction: Switching to Airwallex had a direct impact on the bottom line. Access to market-leading FX rates and the ability to make local transfers globally helped reduce per-transaction costs by over 45%. The use of multi-currency Corporate Cards also delivered substantial savings on employee expenses, allowing the company to reinvest capital back into its growth, while the intuitive process has made it easy for employees.

Full financial visibility for future growth: The integrated system provides a real-time, accurate picture of Air Doctor’s financial position, facilitating more informed decision-making. With a scalable and efficient financial operation in place, Air Doctor is now better positioned for further accelerated global expansion.

These gains are just the beginning. “We expect to make even more savings this year as we finish integrating more aspects of Airwallex into our processes,” concludes Aviva.