The UK-based Rockpool Tour Catering specialises in a series of catering services – spanning events, music tours, and rehearsals; alongside the provision of bespoke catering equipment and experienced personal chefs (clients include Muse, Red Hot Chilli Peppers, and Metallica, to name a few).
Staying on top of payments and expenses
The nature of the industry calls for staff to travel globally and across the UK – leading to unmanageable expenses. The music tour and event catering company had no oversight of staff expenditure. And at times, staff needed to use their own cash or cards; which, along with the cost of fluctuating FX, posed issues for reconciling expenses at the end of the month. Plus, Rockpool’s invoices are often paid in USD and converted to GBP via their bank – a transaction that incurs an expensive fee.
Rocking the Caxton account
Rockpool turned to Caxton to improve their expenses processes, and discovered a much welcome solution: we could manage all of Rockpool’s incoming international payments. Caxton provided Rockpool with its online account. They then distributed pre-paid, multi-currency cards among their staff – allowing them to load up currency prior to travel, with the option to top up while away. The benefits were mainly two-fold: Rockpool’s finance team gained access to full visibility of spending, and saved time on tedious monthly admin to reconcile staff expenses.
Serving up a timely payments platform
Peter Bailey, Managing Director said, “Working with Caxton has been great. Their team has really understood and continues to understand the problems we were facing, and provided an excellent service and solution(s). We’ve drastically reduced the time reconciling expenses at the end of each month, thanks to the automation of our expenses programme. And we have a full overview of incoming and outgoing payments (including the ability to hold all of our international payments) – making life so much easier for our finance team.
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