Loom switches from Brex to Navan for a streamlined, all-in-one solution.
In 2021, with the world settling into a hybrid workplace model, Loom’s user base skyrocketed and the company reached unicorn status after a $130M Series C / $1.53B valuation. It was named to both the 2021 Forbes Cloud 100 and Inc.’s 2021 Best Workplaces list. In short, 2021 was a milestone year for Loom.
With the company scaling its operations, Loom looked to clean up its tech stack. Their solution: Switch to Navan for an all-in-one travel, corporate card, and spend management solution. We sat down with Loom’s Senior Manager of Finance, Connie Nguyen, and Director of Finance, Lili Peng, to learn why Loom chose Navan over competitors Brex, Expensify, and Ramp.
“When we started looking into other solutions, we scoped Expensify and Ramp, but we loved that Navan is a one-stop shop for travel and expense management and offers a corporate card. There is a lot of appeal in having one place for employees to go,” said Nguyen.
“Coding was a little bit harder with Brex. For example, it would be really difficult to code when someone swiped their Brex card to a meals GL account versus a software GL account. Ensuring that expenses were correctly coded required investing many human hours per month,” said Nguyen. “We liked Ramp, but they lacked custom fields and the ability to track expenses at the level of detail that we need. Navan provides that.”
“Navan's spend dashboards allow us to enable self-serve reporting across the org, which is huge. They allow our finance team to remain lean and allocate more time to strategic initiatives rather than spend time producing reports for anyone who asks,” said Nguyen.
We love that Navan is a one-stop shop for travel and expense management and offers a corporate card. There is a lot of appeal in having one place for employees to go.
Senior Finance Manager
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