Cory Mccabe: Wait here's a question—okay if you're using Divvy and you're like using virtual cards and stuff, how are you using mercury for you and your business or personally?
Alex Bass: Okay so Divvy is more of a budgeting expense management and virtual card platform. There's no money sitting on Divvy. Divvy is connected to Mercury and payments go to Divvy to pay off our credit card from Mercury. So the point is: you set up your budgets and then you create virtual cards for the budgeting categories and if none of it is tied to actual budgeting within a company.
Let's say that we pay you you send a receipt we trigger that to send to Divvy. Divvy then takes all of it packages it together and puts it into our accounting software and reconciles it. So it's more of like expense management software, whereas Mercury is a banking technology solution. We use Mercury as our checking, saving, and investment account. We don't use it for the credit card or debit card functionality because Divvy just goes way deeper in that specific area.
Curious what top SaaS companies are using the software stack mentioned in the video above? We've put together a list (and even tracked the software they used to use)!