About Potens
The care sector plays a vital role in supporting individuals’ physical, mental and emotional wellbeing. As a result of recent events such as the COVID-19 pandemic, there has been a growing trend towards streamlining payments, automating reporting and transitioning to cash.
Potens is a prominent player in the care home sector. They grappled with visibility and control over expenses made locally in their 40 residential and 36 supported living homes. To get that visibility and control, they turned to Yordex.
Challenge
Potens needed help managing payments across multiple locations, impeding efficient payment monitoring and cost allocation. The lack of customisation in their existing financial tools stopped Potens from gaining a detailed overview of their spend.
Yordex Solution
The Yordex team listened to Poten’s feedback and collaborated to create a tailored reporting solution via the Yordex API, providing Potens with a consolidated statement of accounts across their numerous services. This eliminated the need to export each service account individually, streamlining the process.
To further enhance reporting , expense data can easily be exported to customisable reports, tailored to specific needs and based on the data available within the platform.
In addition to reporting, Potens utilises Yordex’s other key benefits to improve its spend and payment administration
Furthermore, every spend made with a Yordex Card automatically generates an expense entry within the platform. These expenses could then be reviewed, categorized, and queried directly within the system, saving valuable time and resources that could be reallocated to other responsibilities
Additionally, by implementing guard rails on spending, such as ATM withdrawals, and merchant blocking at a per-card level, Potens gained oversight of spend details by their staff. This not only ensured adequate financial controls but also facilitated audit compliance.
Overall, Yordex’ robust administration features empowered Potens' caregiving team with more autonomy, allowing them to make contactless payments securely. This improved their comfort and peace of mind and provided finance heads with increased visibility and control.
Results
Streamlining payments and going cashless with Yordex has given Potens, like many of our clients in the care sector, a range of benefits including enhanced operational efficiency, improved security, increased convenience for residents and caregivers and access to valuable insights.
As a digital payment platform, Yordex provides valuable data insights that can support informed decision-making in the care sector. The bespoke report developed by Yordex has become a best practice model, empowering Potens to:
- Attaining granular Insights: Potens now has a comprehensive view of all accounts through a consolidated reporting statement, enabling detailed analysis of spending patterns.
- Enhance Decision-Making: Armed with real-time data, Potens' leadership can make informed decisions promptly, providing Finance teams with more visibility into cost attribution.
- Improve Operational Efficiency: Yordex's solution has allowed finance teams to reduce time spent on manual tasks
Conclusions
The partnership between Yordex and Potens exemplifies the transformative impact of our tailored payment software on the care sector. Yordex's ability to understand Potens' unique needs and provide a customised solution has not only empowered Potens with enhanced business insights but has also set a new standard within the care home industry.
Embracing the benefits offered by the platform not only saves time and effort but also creates a safer and more convenient environment for all stakeholders.
With Yordex's API-first platform and comprehensive expertise across our team, we are uniquely positioned within the market.
As the care sector continues to evolve, Yordex is committed to driving positive transformations in service delivery and ensuring high standards for residents, caregivers and administrators alike.
For more information, please contact us.
