Likelihood to Recommend Very well suited for founders who are building companies in the US but are not US citizens. Works like a charm for start-ups who are looking for a cutting-edge product and not an outdated bank! Small-medium teams. Not well suited for those who are used to traditional banking and prefer in-person interaction or over the phone.
Read full review I work with several businesses and have attempted to bring ScaleFactor into multiple. Thus far the business status/environment has been suitable for ScaleFactor only once, but I'll continue to look for more. ScaleFactor is great when a company has matured beyond the owner making all accounting and banking entries. As soon as multiple systems are needed, it's likely a decent time to call ScaleFactor. I'm confident my operations could run through ScaleFactor for a long time as the next step for us would be something akin to NetSuite or some other more rigid enterprise solution. Additionally, our business has a geographically displaced work force, typically working from home. Having access to all systems via the cloud has been great. No longer do we have to pass a specific computer back and forth for a physical computer software license. It's enabled maximum work flow convenience.
Read full review Pros Rewards - The rewards were the main reason for us switching. Our previous card provider did not have a good rewards program. User Interface and experience - When a charge is recorded on the Brex card, users immediately receive a text notification asking them to send a picture of their receipt. Brex automatically attaches the receipts to the charge which has saved our users a significant amount of time. Read full review ScaleFactor has been a great resource for me as I got my business off the ground. They have allowed me to focus on marketing and strategy while they handle my Quickbooks and other accounting needs. Great accounting and finance solutions that don't require you to hire an in-house staff Presenting data clearly. Read full review Cons It can be somewhat confusing to transfer money between the credit card and bank side More help identifying areas of overspending More help tracking spending around specific accounts Read full review Could connect with All saving accounts i.e. Building society saving aswell as major banks. When a connected bank or savings account hasn't been used for a month or 2 it could show a 0 transaction to keep it updated rather then saying "last updated 3 months ago" Read full review Usability ScaleFactor has been a great resource for me as I got my business off the ground. They have allowed me to focus on marketing and strategy while they handle my Quickbooks and other accounting needs. Great accounting and finance solutions that don't require you to hire an in-house staff.
Read full review Support Rating Prompt and always extremely fast to respond. I also think the intuitiveness of their solution negates the need for much support
Read full review Not sure if support is still available.
Read full review Alternatives Considered Divvy allows you to get hyper focused in on how much individuals are allowed to spend. Honestly it is comparable to Brex, but is more well suited for micromanaging organizational spend. Brex is good because I am able to give my employees limits that match our budgets and I don't care about micromanaging their spend.
Read full review Scale factor, can be used like
Xero I believe. However all my past data was already stored in
Xero so I used it as an add on. It is a lot more user friendly and helpful, i.e. you don't need to be an accountant to use it. However I am not sure it is useable anymore or supported, so i have gone back to using
Xero alone.
Read full review Return on Investment No fee wire transfer. Net 60 credit card terms is good for our cashflow. Fast and easy employee credit cards saves us time. Read full review They have been fundamental in helping us grow and scale at a relatively low cost in comparison to out-sourcing these functions. We can spend more on other items that can fuel growth while knowing the back end is taken care of. They provide automated supports for key areas like payroll, expenses, etc so that we can quickly get back to focusing on the other items. Read full review ScreenShots