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.
See how our customers are finding Airwallex
"Airwallex have been a fantastic partner for Olsam Group as we grow our eCommerce brands to new channels and new markets. Their easy to use interface and integrations have been a joy for our finance team to use as we scale."
"For ME + EM, expanding into international markets such as the US has been our focus - and with Airwallex, we were able to use their local USD Global Account to collect from our Paypal US account, thereby allowing us to save 3% on each transaction. The process of working with Airwallex has been seamless - our suppliers get paid quickly, we have a dedicated Relationship Manager who has been really patient, helpful and quick to respond. I am keen to use their cards to pay for our ad spend in the near future to save further on our USD invoices."
Finance Manager, ME + EM
"We've had such a fantastic experience switching to Airwallex. Previously we were using a traditional bank to make all of our international transactions and they'd constantly lock us out of the account everytime we made a transfer, resulting in hours and hours of lost time on hold. Airwallex is secure, makes it super quick and simple to make and receive international payments."
Managing Director, Perspective Pictures
“We used to pay Stripe between $5,000 and $10,000 a month in conversion fees because most of our customers pay in dollars. Now we funnel that money into our Airwallex US dollar account, we don’t have to pay commission. We’ve saved more than $100,000 so far this year”
Founder and CEO, Brandbassador
"We love Airwallex! It has considerably eased our invoicing and payments to contractors around the world. Sending and receiving money is much faster and cheaper than before."
Co-Founder, Mobile Transaction
“We are so glad that we have found Airwallex! There are no hidden charges, they are quick to respond to any queries and we had the smoothest transaction with amazing support from the team continually.”
Supply Chain Executive, Miss Patisserie
"Our water solutions company, Dropterra (go.dropterra.com) has partnered with Airwallex since inception and it has been the best banking and payment partner a company can think of. International transactions are easy, secure, and fast, the technology is incredible and their client service fantastic! We look forward to growing and deepening our relationship with Airwallex!"