This is quite an intriguing perspective. When I set aside the emotional undertones in this post, it seems to suggest a belief that the CEO demonstrates a notable deficiency in business acumen.
At a very basic level, since 2020, Spenda has been on a growth path with several key changes and achievements. They started by rebranding from their old name, Cirralto, to Spenda, with a fresh logo and a new website. This rebranding was more than just a cosmetic change; it helped them unify their brand with their mission to make business payments faster and simpler.
They also focused heavily on forming strategic partnerships. Two big ones were their agreements with Capricorn Society and Carpet Court. With Capricorn, they secured a long term 10 year agreement to provide software and payment solutions, which brings a sense of stability to their revenue streams. The deal with Carpet Court is another example where Spenda’s tech helps their partner process thousands of invoices more efficiently each month, cutting down manual work and improving productivity by 40% .
In terms of growth, Spenda’s hard work has paid off with substantial increases in revenue and the number of transactions processed. By 2024, they had increased their total payment volumes by 160% and saw a 73% jump in revenue. This growth is largely due to their expanding product offerings, which now include better ways to manage accounts, handle invoices, and even allow businesses to lend money to customers.
On the product front, they introduced features like dispute management and secure payments, all aiming to make transactions smoother and more secure. They didn’t stop there, though. They even automated some of their internal testing, allowing them to roll out improvements quicker.
Spenda has also invested in its employees, and it shows. In 2023, they recorded a 39% jump in employee satisfaction, which they measured with an impressive eNPS score of 60. This improvement is likely due to efforts in building a supportive and flexible work environment .
All these changes show that Spenda isn’t just growing; they’re thinking strategically about how to improve their business, support their team, and better serve their customers.
By continually focusing on what has not been accomplished, you risk overlooking the progress that is actually being actively made. If one (i.e YOU!) possessed a keen sense of business acumen, this should be quite evident, in my view.
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