How Cape reduced onboarding time by 50% and saved customers hundreds of admin hours annually

50% of reconciliation tasks automated

Hundreds of admin hours saved per customer per year

Customers onboarded within 24 hours

About Cape

Helping businesses save time and free up cash flow

Cape is an expense management platform and corporate card issuer dedicated to simplifying financial operations for Australian SMBs. Founded by a team of fintech veterans, the start-up understands that access to working capital can be the difference between success and failure for many small businesses. To address this challenge while saving its customers time and money, Cape relies on Codat to streamline underwriting and automate reconciliation—giving small businesses increased control over their finances.

The problem

Optimizing cash flow for SMBs requires deep integration

By combining expense management with corporate cards and payment solutions in a single platform, Cape is modernizing traditionally fragmented industries. To win SMBs’ affinity and woo them away from legacy providers, Cape needs to offer a time-saving, intuitive, and exceptionally gratifying user experience undergirded by automation—making powerful integrations a pre-launch must.

“Cape’s mission is to save growing business owners time and money. Automating the customer onboarding process means businesses won’t need to find and provide financial statements already in their accounting platform.”

—Ryan Edwards-Pritchard, Founder and CEO, Cape

Two-way data connectivity

To use accounting integrations to fast-track approvals as well as automate accounting tasks for users, Cape required the ability to push and pull data to and from customers’ accounting systems.

Real-time sync

To help users manage their expenses effectively, Cape needed to stay connected to users' accounting software, create and update records programmatically, and watch for changes in the structure of the general ledger.

Maximize development resources

Cape wanted to ship high-quality accounting integrations without diverting resources away from the development of its core product.

The solution

Running critical integrations on proven, purpose-built infrastructure

Cape leverages Codat to establish streaming connections with customers’ accounting systems, gather and enrich customers’ real-time financial data, and surface valuable insights to fuel its underwriting model. In turn, Cape makes quicker, more confident credit decisions, and customers get corporate cards in hand (or virtual wallet) faster than ever.

Once onboarded, Cape’s Codat-powered accounting automation incentivizes customers to stay engaged and maintain their data connections. This continual visibility into customers’ financial health lets Cape offer high-touch, value-add account services, like proactively raising a customer’s credit limit as their needs and risk change.

“Leveraging Codat to sync transaction feeds between Cape and major accounting platforms lets us remove downstream headaches and give customers increased control of their cash flow—a key factor for making insightful financial decisions and fueling strategic growth. ”

—Ryan Edwards-Pritchard, Founder and CEO, Cape

Less manual intervention

With Codat, Cape instantly pushes transaction data to customers’ accounting software, automating the reconciliation process and eliminating reliance on manual input and bulk uploads.

Faster corporate cards

By partnering with Codat, Cape has instant access to customers’ real-time financial data. This lets Cape reach credit decisions more confidently and quickly in response to customers’ evolving capital needs.

Turnkey access to major platforms

Sync for Expenses ensures Cape’s interoperability with key accounting software like Xero, QuickBooks, and MYOB—a feature that would have taken months or years for Cape to build in-house.

The outcome

Greater efficiency through streamlined operations

“We’re thrilled to work with Codat and ensure we open up these benefits to all our customers. It’s a quick win that benefits everyone!”

—Ryan Edwards-Pritchard, Founder and CEO, Cape

Key results

  • Automates up to 50% of expense reconciliation
  • Gets businesses from application to fully-fledged customers within 24 hours
  • Reduced errors thanks to real-time data syncing
  • Reduced customer onboarding time by 50%
  • Saves customers hundreds of admin hours annually

How it works

Dataflow 3

One-click reconciliation

Cape leverages Codat to retrieve customers’ Chart of Account rules for easy syncing and categorization of payments between systems.

Check verified

Supreme visibility

Cape pulls comprehensive financial data from customers’ accounting systems for a fast, holistic picture of creditworthiness that expedites access to operating capital.

Become your customers’ favorite way to spend

Get in touch with one of Codat’s data experts using the form below, and learn how our business data APIs can transform your expense management platform.