Paperless vs. Wise

Paperless is good for formalising the authorisation process. In my opinion, where it falls short is that the software is slow and has limitations. Some limitations are known to the company but not told at point of selling, leaving the user with add-ons that are useless. e.g. the Company Inbox module, which is used to automatically upload invoices to Paperless, is not fit for (our) purpose due to the fact not all emails can be uploaded to the system automatically. Apparently companies who send invoices using software packages such as Xerox / Quickbooks etc. have rules which do not allow onward forwarding. Therefore you need to cross check what has been uploaded and what hasn't. This is time consuming and we found manual upload was far easier. We wasted time and money implementing this add-on which was useless to us.

Incentivized

For a small business looking to expand internationally, transferwise offers lower admin fee and no hidden fee which is very important. It also remove the hassle and headache of setting up accounts with the local banks. Other than the low fees, the best part is we can use transferwise safely with a peace of mind as it is being regulated by the MAS. Lastly, any small business can set up their transferwise account within minutes which is very convenient

Incentivized

• Formal authorisation process
• Easy to search invoice archive

Incentivized

• Quick - because funds are transferred domestically, even when going international, you don't have to wait long.
• Easy - the printout of what information I needed to give the sending bank was complete and easy to understand.
• Affordable - the fees on both ends were minimal.

Incentivized

• Slow software
• Mailbox management not fit for purpose
• Hidden costs

Incentivized

• For large money transfers, the tax is a bit expensive so it would be nice if that was adjusted or if there was some economy of scale.
• Ability to schedule recurring transfers could be useful.
• Be able to transfer money by using a mobile phone number, like with Mobile Pay or Bizum, when the sender and receiver of the money are in different countries.

Incentivized

We haven't really had to engage with TransferWise support. The platform is simple and easy to use.

Incentivized

We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case of a new payee).

Incentivized

• We feel the product over promised and under delivered

Incentivized

• We can save around 5% on our transfer fees
• The online account management is easier than going into banks personally
• There's no negative impact...