How Paypr helps businesses use time more efficiently

A quarter of business owners tell Xero they’d like to spend more time outside work. One third says they’d like to save time, and those businesses tend to be the smaller ones where someone’s doing all the work themselves.

The Xero Signals programme brings data together from 10,000 Kiwi small businesses and provides insights into what really keeps them awake at night.

Xero Signals identifies macro-economic trends and uses them to offer insights into how small business owners can streamline their business.

At Paymark we could see businesses wasting time fiddling with paper receipts and saw an opportunity to help. It’s why we built Paypr, to free business owners from spending their days trying to account for their expenses and to let them get on with the real job at hand – running their companies and spending time with their families.

Typically, the end of month ritual is to empty out the envelope of receipts, rummage through the wallet for any strays and gather up parking receipts from the car. Then begins the tedious and brain numbing job of trying to marry up the right receipt with the right client or event.

Did I pay for coffee with this client or that one? Why have I got a parking receipt for Monday when my diary says I didn’t go anywhere? Why haven’t I got a receipt for that lunch?

After an hour or so of hassle the job is done, for another month, generally with a vow to be better at keeping receipts and at scribbling notes on the back of them.

Think about how long it takes to process each receipt you’ve got. It’s anywhere from one minute to five minutes per receipt. Multiply that by the number of receipts each month and again by the number of staff who are writing out expense reports and you’ve got some idea of the size of the problem. Then add on the time it takes for your book keeper to check each one, and then how long it takes the accountant to go through them at their end.

With Paypr, you get all that time back to do more with your business, to do more with your family.