We love the resourcefulness of small businesses. But without a dedicated accounts payable department, something as basic as onboarding, managing, and paying your team can require 3-5 different solutions. Every service comes with a monthly subscription fee, and it’s not long before all those logins start burning a hole in your pocket.
So how much is it actually costing you to do business? About $340/month. Is there anywhere you could save? Compared to Liquid, that’s $140+ down the drain.
But don’t take our word for it. We went through the numbers to break it down.
A Return to Math Class
It’s been a while since we’ve sharpened our No. 2 pencils, so we’ll keep this simple.
You’re a moderate-sized startup with a liquid workforce taking a streamlined, efficient approach to growth: you have a bench of 10 contractors and a roster of 10 domestic vendors and 5 international vendors. In other words, you’ve got 25 invoices a month to handle. You have 2 people who need logins for AP and accounting, 1 person for legal, and 5 people submitting or reviewing expenses.
Your Subscription Portfolio
Like a lot of small businesses, you’ve probably bought some subscriptions to streamline your operations. Your monthly subscription bill could include:
Gusto, to pay your contractors – $6/mo/person
Bill.com, to pay your vendors – $69/mo/user and an additional $0.49/US Invoice or $9.99/Int’l Invoice
Docusign, to sign documents – $25/mo
Dropbox, to store your legal documents and invoices for 3 users- $37.50/mo
Expensify, to track expenses – $4.99/mo/user
Mind Your Pennies
Six dollars here and five dollars there feel like nothing. But the math starts to crop up.
Gusto for 20 contractors ($6/mo each) = $60/mo
Bill.com for 2 users ($69/mo each), 10 domestic vendors ($0.49 each), 5 international vendors ($9.99 each) = $192.85/mo
Docusign = $25/mo
Dropbox = $37.50/mo
Expensify for 5 users ($4.99/mo/user) = $24.95/mo
That’s $340.30 in subscription fees every month, and that’s not even accounting for the time spent navigating between sites, matching invoices to work orders, and filling out wire transfers.
The Liquid Way
Liquid was created to empower small businesses to run efficiently – that means in terms of time and money. Not only does Liquid consolidate your invoices, legal documents, and work orders in one location, but it streamlines the costs of sending invoices.
Liquid Growth Plan: $199/mo for unlimited wire transfers
That’s a $140 savings over the mix-and-match approach, without the hassle of five different logins to keep track of.