View the original posting from Finance Magazine here:
Spotlight re-posted below:
Key Takeaways
- Spendly, a financial services platform, offers a way for businesses to reevaluate their expenses and potentially save up to 85% on key services like Payroll, Payment Processing, and Insurance.
- By leveraging historical data and market competition, the platform is able to provide personalized deal recommendations sourced from top-tier providers across the country.
- Saving with Spendly is simple, businesses provide information about their current payment for a service and Spendly assesses if there’s a lower cost available.
Financial technology startups are beginning to disrupt traditional financial markets, providing new offerings that are changing the way businesses interact with their financials. One of these disruptors is Spendly, a FinTech startup based out of Charlotte, North Carolina. Spendly operates in the Financial Services, InsurTech, and SaaS industries and aims to revolutionise how businesses procure and manage their third-party services.
In today’s competitive market, it’s crucial for businesses to actively search for ways to optimize and streamline costs. This is where Spendly comes in. The platform is designed to make it easier for businesses to re-shop their financial services, providing them with potential savings of up to 85%.
What differentiates Spendly from other startups in the FinTech space is their data-driven approach. By leveraging historical data and existing market competition, Spendly can effectively recommend lower cost alternatives for the same services businesses are currently using. This unique business model shows their commitment to helping businesses find a better offer in terms of both cost and quality. Furthermore, Spendly covers a broad range of services, from payroll and payment processing, to over 15 types of insurance.
Although this business model is not entirely new, Spendly’s focus on utilizing historic data to find cost savings is a novel approach. By providing a streamlined platform that caters to businesses seeking to switch providers, Spendly has undoubtedly set a high standard for competitor platforms.
Looking into the future, Spendly’s potential is vast. As more businesses become cost-conscious, the need for platforms like Spendly will undoubtedly increase. With this in mind, Spendly is poised for exponential growth in the coming years. Meanwhile, the FinTech industry overall is expected to continue thriving, providing many exciting prospects for startups like Spendly.
With its innovative model and proven results, Spendly is a company to watch in the future of business finance solutions. To keep up with Spendly’s journey or to discover how it could help your business save, visit the website and follow them on their LinkedIn.
