Ernst & Young has become the first company to trial a new corporate solution from taxi booking and payments startup goCatch that will allow organisations to easily charge staff travel back to a single business account.
goCatch CEO Ned Moorfield said the feature will cut down on the administrative burden for businesses in managing taxi-related travel by allowing for easier processing of payments and tracking of receipts.
“For the first time our customers can now link multiple staff goCatch accounts to a single business account and receive a rich set of reporting on staff taxi travel. This eliminates the need for lodging time consuming expense claims and ensures businesses can achieve greater compliance with company policies,” Moorfield said.
The new solution, which joins existing features like emailing tax invoices directly to a business’ inbox and sending monthly reports on taxi usage, will automatically collate taxi receipts through the goCatch app, eliminating lost receipts, fraud, and “a lot of general time wasting,” said Moorfield.
He said EY is just the first corporate to come on board to trial the new solution, with goCatch also in discussions with organisations spanning the professional services, media, and IT industries. With the startup trying to break the dominance of Cabcharge, its main competitor, in the market, bringing on EY and other large corporates is a significant step towards achieving that goal.
David McGregor, EY’s Technology, Media & Entertainment, Telecommunications leader, said trialling the program is part of the organisation’s push for smarter business solutions.
“We see the potential value for our employees using the goCatch app. By systemising taxi travel through one platform, this allows us to save time and money when it comes to end-of-month processes. We’ll be assessing the trial closely and there is potential for this service to be rolled out across wider business units in the months ahead,” McGregor said.
He added that the pilot program is just another part of the organisation’s support for startups; earlier this year, Ernst & Young signed multi-year sponsorship deals with coworking spaces Tank Stream Labs and York Butter Factory.
McGregor said that the sponsorships are about helping startups develop new connections to financiers, to customers, and to potential partners or acquirers by building bridges between innovation-focused startups and larger corporates hungry for growth opportunities and new technologies.
goCatch raised $4.5 million in capital in October last year at a valuation of $19 million. It has more than 30,000 cabs around Australia using the service, and more than 280,000 users making bookings through its platform.