"The Total Economic Impact of Brex” reported by Forrester
Our mission is to reimagine financial systems so every growing company can reach their full potential. But it’s not enough to simply have that as a goal. We wanted to dig into the numbers and find out exactly how we’re serving our customers, so we can continue to improve.
That’s why we commissioned Forrester Consulting, a leading third-party research firm, to conduct a Total Economic Impact™ (TEI) study. This study would provide concrete data, including average time saved per month and overall return on investment (ROI).
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed six customers using Brex corporate cards. Prior to using Brex, the customers used a mix of automated clearing house (ACH) scheduled payments and personally guaranteed, consumer-oriented credit cards with cumbersome back-end expense processes and management technology. By switching to Brex, customers started building business credit immediately and realized increased accounting and management productivity, cash equivalent rewards, and a reduction in expense report fraud. Brex also provided easy access to real-time spend information promoting user flexibility as well as user controls.
Forrester reported the following key findings:
- $2.6M in quantifiable benefits using Brex over 3 years
- 490% ROI over 3 years
- $446,514 value of rewards realized over 3 years
To learn more about the time and money Brex can save your business, check out the full report.