Case study / Life sciences
Streamlining expense management & reconciling in half the time
The Brex Difference
Application & Removal Time
Banks, credit limits
Lab suplies, reagents
Top Spend Categories
$4M (Series A)
Othram uses DNA sequencing and genomics to advance biometrics and human identification.
Othram’s lab operates by making bulk purchases, and Othram kept hitting the limit of their Chase bank card. It was painful to get a credit card through a bank, and “I was expected to appear in person to apply,” said David Mittelman, founder and CEO. “Someone was required to personally guarantee it on behalf of the company.”
As an entrepreneur, Mittelman was receptive when Brex reached out. “Brex offered an inventive solution that would solve many of our pain points. All I had to do was fill out a form and connect my bank. I could afford to spend five minutes on this.” Othram received a substantial credit limit which obviated the need to send in payments mid-cycle. “Brex gave Othram the freedom to operate,” said Mittelman. “The rewards points are a bonus.” Mittelman immediately ordered physical cards for himself and his sales team, because they travel, and everyone else got virtual cards. “Virtual cards are brilliant for online subscriptions because they’re unaffected if you lose your physical card.” Before Brex, Mittelman used to manually log employee charges in a document, which made closing the books time-consuming and tedious. “Now, I can issue cards by project or by person and can easily track spend. It’s easier for our bookkeeper to determine what the charge was for based on which card was used.”
“It’s now twice as fast to reconcile at the end of the month,” said Mittelman, and there’s half as much work. Our bookkeeper can easily distinguish lab reagents for R&D versus those that deliver a service.” Brex’s automatic receipt-capture and memo also means that “no one was dumping receipts on our admin’s desk and our bookkeeper had complete context for each transaction.” "We've been telling all our vendors and suppliers we want to pay by credit card." Othram used to use Expensify to do expense tracking, but because Brex has the native ability to upload receipts, Othram streamlined its expense management. “It’s more convenient to just use Brex than have multiple software tools, so we stopped using other expense tracking tools,” said Mittelman.
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