Case study / Tech startup
Cutting 25 hours off the month-end close
The Brex Difference
Under 1 day
Controls, visibility, time to close
Software spend, T&E, office supplies and equipment
Top Spend Categories
San Francisco, CA
500 - 1,000
With a mission to simplify startup equity, Carta provides services that seamlessly manage 409A valuations and provide a risk model for private markets. After launching in 2012 and with a current valuation of $1.7 billion, Carta now has a dozen products aimed to automate this for companies and investors.
As a rapidly growing startup, Carta was hiring new employees at an incredible rate. It was a great sign for the company, but also meant that software needs, office equipment purchases, and general T&E were getting more and more complex. It was taking longer to close the books every month—especially when it came to managing travel cards.
Carta was one of the first customers to use the NetSuite integration with Brex. So when the direct NetSuite integration launched, they started using it to automate a lot of manual work required for the monthly close. Brex’s direct integration with NetSuite helps Carta skip the hassle of manually categorizing each transaction in CSV files.
Carta used to spend over 35 hours a month coding transactions one-by-one in CSVs in order to import their transactions to NetSuite. “Formatting this information in a CSV used to be so tedious and required extra work to ensure the fields were accurate,” said Vanessa Majalca, Accountant at Carta.
Carta automated this process by mapping Brex categories to their NetSuite GL accounts and further customized how the data appeared using the integration’s Custom Rules—so transactions would automatically be mapped to the right department, class, and location depending on business logic, instead of requiring multiple formulas in a CSV.
“We are now able to code the majority of our cards directly in Brex, so whenever a card is swiped, the rule is applied and the manual review is minimal,” continued Majalca. “When I export the report from Brex, it’s formatted correctly, which significantly streamlines the process.” What used to take 3 hours to review now takes only 35 minutes.
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