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What if you never had to pull another manual expense report ever again? With Teampay’s purchasing platform, finance teams can set spend policies, automate purchase requests and reconciliation, issue virtual and physical cards, and gain real-time visibility into spend. Our proactive approach to business spend eliminates the need for expense reports, resulting in a better experience for finance departments and employees across the board. That’s company spend, simplified.
Provider
Teampay
Located In
United States
Foundation
2016
Open API
No
Deployment
Cloud, SaaS, Web-Based
Mobile Apps
iOS
Training
Documentation, Live Online, Webinars
Support
Email/Help Desk, Chat, Phone Support, FAQs/Forum
For companies with 20+ employees looking to streamline their spend with an all-in-one purchasing solution. Teams should be seeking to streamline spend practices and consolidate AP and expense tools.
Content Source: Teampay
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Teampay Reviews
Pros
The cash back on all purchases is amazing. Implementation was easy and the spend management control is beyond anything I have seen.
I love that I get to see all of our credit card spend in real-time through slack notifications. It gives me great visibility into who is spending what and when.
As an AP Manager, here at The Bouqs Company, this tool has saves us plenty of time and money. Amazing speedy way of giving employees credit cards through an approval process.
My overall experience with them has been great. The customer service is very helpful.
Cons
The one negative part of teampay that I have personally came across is that not every merchant will accept teampay. Some flag for fraud (Doordash for example) when used multiple times.
The reconciliation between postings from the bank against their statements. Also, after the downfall of SVB, TeamPay was completely restricted without any workarounds.
It does not have very basic functionalities and implementation vs sales is very different. I start thinking that this company is scam, since how can you miss the most important functionalities.
Integration with SVB is a pain, mostly due to SVB themselves... the paperwork never ends. There are some blind spots, e.g. payments that are refunded are hard/impossible to find on Teampay.
"Great Product!"
Pros: Love how it integrates with existing workflow like Slack
Cons: Nothing I can think of- it's been a great tool
"Modern way to pay"
Overall: Easy to use, great slack integration! WAY easier than an a traditional expense report.
Pros: Way easier to manage corporate spending than expense reports
Cons: When creating a virtual card, at times you have to guess at the amount you will need and that guess needs to be high than what you anticipate - especially when using team pay for booking travel .
"More promised than delivered"
Overall: Not a positive experience with the implementation team. Product was over promised during pitch. They need to fix all bugs and issues before signing on clients.
Pros: Pros includes Amazon business integration and approval rules
Cons: Implementation is frustrating, we are 6 months into implementation at this point and core functionality of the product still does not work. There are multiple bugs within the system that we find every day.
"I will definitely use again "
Overall: Companies with multiple teams or departments, each with different approval processes, might find the workflows somewhat restrictive or not as tailored to their specific needs.
Pros: Teampay's platform is typically praised for being user-friendly. It’s designed so that employees can easily request, approve, and track company spending without a lot of training or complicated workflows.
Cons: Although Teampay is generally user-friendly, some users report a bit of a learning curve when first adopting the platform, particularly for finance teams or employees who are not familiar with spend management tools.
"User friendly for mid-size companies!"
Overall: Positive! Would highly recommend.
Pros: The ease of use and the integration with Slack and approval workflows
Cons: The reconciliation between postings from the bank against their statements. Also, after the downfall of SVB, TeamPay was completely restricted without any workarounds.
Vendor Response
