Discover how Regency streamlined its accounts payable with Melio, saved valuable time and grew its business revenue by 30 % during COVID-19
Musicians and performers were among those hit the hardest by Covid-19. Getting paid on time has never been more crucial and SPN EVENTS, which specializes in musical services for events, needed a reliable yet flexible payment solution that keeps its artists happy.
Of new supply partners
Increase in revenue
By pivoting quickly to new supply demands
2 hrs / Day
On manual data input
Founded by Mason Sagan, Regency has a diverse range of products, including office supplies, janitorial supplies, customized printing, promotional material, and corporate apparel.
Regency has solidified its reputation with competitive pricing and exceptional service. Recognizing the need for a modernized ordering experience, Regency has implemented a unique single-shopping cart platform for supplies, print, promo, and apparel that helps companies keep consistency in their branded materials.
When the Coronavirus broke, Regency’s ability to pivot quickly and secure vital products was crucial to keeping its clients in business. Melio’s flexible payment solution allowed it to easily connect with new vendors and stock supplies its customers needed.
“Melio has been a huge time saver for us. I estimate that we save at least 2 hours a day just on the manual input of invoices details. And when you are working with a company that cares, it makes a huge difference.”
Finding ways to streamline administrative work, like bill paying and receiving payments, helps Mason and his team free up time to improve their customers’ experience and increase their buying power.
Initially, Mason searched for a solution to work with ACH transfers efficiently. He then became interested in paying his business bills with a credit card to earn card rewards, travel points, and other perks. So he Googled potential solutions and found Melio.
Within a matter of minutes, Mason implemented Melio into his accounts payable flow and it’s been a game-changer in a number of ways:
- Unlike other A/P tools they used in the past, Melio saves Mason and his team 2 hours per day on manual data entry by scanning their invoices and pulling all the information straight into the interface, as well as automating their check writing.
- The team also saves time on sending ACH transfers. Instead of going to the bank, they can transfer ACH transfers directly with Melio, from any location and device.
- Melio’s simple but robust dashboard makes it easy for Mason to view payment activities and pinpoint any oversights.
- Choice and control are the real differentiators for Mason and his team. They can pay their invoices for free with an ACH transfer or use a credit card for a minimal 2.9% fee, to defer their payments till the next billing cycle and also earn card rewards.
Pivoting in times of Corona
Regency’s customers started working remotely when the pandemic hit, and while demand for certain products went down (like customized apparel, promotional items), other products, like janitorial supplies, became vital for Regency’s on-site customers to stay in business.
Mason and his team recognized the need to shift quickly and secure those hard-to-access products. With Melio’s flexible payment capabilities, they easily connected with new partners, made purchases quickly, without the hassle of vendor onboarding, and got the supplies to their clients in record time.
Since communication is vital during uncertain times (whether via Zoom or socially distanced visits), Mason can concentrate on reassuring his customers that they will be well stocked with everything they need, instead of spending time on accounts payable.
It’s all paid off; the Regency team has increased revenue by 30% from securing and supplying crucial equipment and also has a large bank buying exclusively from them.
Keeping user experience top of mind
Melio is committed to improving payment solutions and developing features that will enhance users’ experience. Listening to our customers is a key factor in that goal. Mason has been instrumental in providing valuable feedback and already had sessions with different departments to better understand how Melio can best answer his needs.
“I got connected with Melio at the beginning of the year. From the first moment, Alexandra and the team were interested in helping me, learning about my business, and finding out what we needed. Recently, I requested a couple of features or changes from Melio. Within a day a meeting was scheduled with the actual project lead at Melio. That shows me that Melio is genuinely committed to my success.”
Recommending Melio to others
In addition to running Regency, Mason helps a close family friend run the financial aspects of his portfolio of businesses. Because he finds Melio so useful, Mason has helped his friend implement Melio as his accounts payable solution.
His friend uses Melio to collect rent from his business tenants via ACH, saving time on visiting the bank to deposit payments. Melio also helps automate his check writing. Where before his accounts payable person had to write and send checks manually, Melio takes on this time-consuming task and sends a check (or bank deposit) on his behalf.