How Shopello optimises its international costs and automates expense management
As Shopello expanded into 16 European markets, high currency surcharges and manual receipt management became a barrier to efficiency. Through Juni, they gained access to multi-currency accounts and automated expense management, which has eliminated high FX fees and freed up valuable time to focus on scaling the business.
Before Juni
- High currency surcharges and transaction fees when advertising across various markets
- Manual receipt management and time-consuming hunts for documentation created administrative headaches
- A fragmented overview of finances and cash flow
After Juni
High currency surcharges and manual administration created barriers to growth
Founded 15 years ago, Shopello is today a leading partner in Google Shopping and product data optimisation. By helping e-commerce merchants increase visibility at a lower cost, the company has expanded rapidly and currently operates in 16 markets across Europe.
As a small team, it is the founder and CEO, Oskar Elvhage, that handles the financial management himself. Consequently, the company’s expansion and success have required managing complex financial flows, particularly regarding international advertising and payments to platforms like Google Ads.
“As an entrepreneur, I want to spend my time and commitment on the right things. Sitting with manual administration and chasing receipts is not a good use of time,” says Oskar Elvhage.
For a company operating globally across various currencies, FX fees quickly become a significant cost. Shopello needed a solution that allowed them to retain more of their margins.
“I was quite fed up and irritated by all the high exchange and transaction costs added every time I used the currency accounts at my traditional bank. It became far too expensive and complicated to manage all the different currencies. I therefore began looking for a better solution that could save me both time and money,” says Oskar.
A frictionless platform that facilitates expense management
Oskar knew what he wanted: everything gathered on one platform, more intelligence, and automated solutions for a smoother financial management experience. In Juni, he found the solution to his problem. Previously, receipt management was a frustrating task requiring manual intervention. Today, Shopello has a workflow that largely looks after itself.
“Juni makes everything much smoother and saves me both time and money. They really simplify expense management, as everything is handled ongoing. When it comes to receipts, most are digital; I simply send the documentation to a dedicated email address, and I photograph physical receipts directly in the Juni app. There is significantly less manual work as almost everything is handled automatically.”
Juni’s virtual company cards facilitate work for both Oskar and the rest of the company, as he can create multiple cards for both employees and specific projects. This allows them to manage their own costs for tools and lunches without creating extra work for Oskar.
“I have now issued cards to my colleagues which they can use to pay for various software licences and advertising, as well as for business lunches and staff costs. It is very simple and smooth. We have also seen the benefits of the partnership with Tab, where receipts from restaurant visits are matched automatically in the background. It’s exactly the kind of intelligence I want in a financial platform,” he says.
Fortnox integration simplifies accounting
Through Juni’s integration with Fortnox and the intuitive platform, collaboration with Shopello’s accounting consultant has also become more efficient.
“My accounting consultant finds that it works very smoothly. We have a clear real-time overview, and even if I don’t need to dive into the figures every day, I know everything is there when needed. It saves her time, and her time is ultimately my money,” Oskar explains.
As Oskar mentions, his accountant Madelene Norgren agrees that Juni simplifies her job in several ways.
“It is practical to have the different currency accounts gathered in one place, along with the associated cards for each currency and person, as it makes it easy to have all card transactions collected in Juni. The integration with Fortnox works well and specifically simplifies the payment of invoices in different currencies, especially since the bulk payment function launched. It is also easy to export transactions and it has worked well so far,” says Madelene, continuing:
“Overall, I save a fair amount of time in my work; it’s easy to send reminders for documentation directly in the platform and export card transactions. It also helps a lot that invoices are automatically marked as paid in Fortnox.”
No unnecessary FX fees or surcharges
The handling of payments in various currencies has also been significantly simplified. With Juni’s cards and multi-currency accounts, Shopello can easily operate in global markets.
“Now we can easily create cards and accounts in each currency and thus avoid high FX fees. I can see in black and white that the costs for currency accounts have gone down, which means a lot as we use at least five different currencies. The headache and irritation I previously felt is gone,” he says.
Now Shopello can operate globally and scale the company internationally without worrying about unnecessarily high costs, extra fees, and complicated currency account management.
“We are in 16 different countries in Europe today and with Juni, everything becomes much easier. It is smoother management, lower costs, and less manual work. It is truly one of the best things about Juni,” says Oskar.
Enabling focus on new business ideas
With Shopello’s finances on autopilot, Oskar can now focus his attention on his new company, Agent Mama, where they train AI agents for marketing.
“Juni gives me the security and simplicity I need to let go of the administrative side. My goal is to build the business and generate revenue, not sit with receipt management. Juni allows me to focus on the future and my next big venture,” Oskar concludes.
About Shopello
Shopello is a certified Google CSS partner that optimises product data for e-commerce merchants. Through smart technical integrations, they help shops in 16 countries increase their sales on Google Shopping at a lower cost-per-click.
About Juni
Modern banking. Real-time control. Juni provides business banking, spend management, accounting and financing, on one powerful platform and app.
We minimise complexity so you can maximise growth. Gain complete control over business finances, put an end to manual processes, and even lower your running costs - all in one place.
