Bitwage Manages Crypto Payroll With Softledger

Operating in a rapidly evolving sector presents challenges, as industry-specific business solutions are often lacking. During its early stages, Bitwage faced the absence of a robust Enterprise Resource Planning (ERP) system capable of handling cryptocurrency accounting.

The volatile nature of Bitcoin and other crypto assets, coupled with associated trading fees and transfers, necessitated a powerful software solution. Bitwage needed an accounting software that could accurately calculate crypto cost basis and record all relevant outputs and receipts for crypto-funded payrolls.

Before discovering SoftLedger, Bitwage relied on extensive Excel spreadsheets and an in-house admin portal, resulting in inefficiencies and data processing delays, lasting days or even weeks.

By transitioning to SoftLedger and harnessing its dedicated crypto accounting module, Bitwage has unlocked the freedom to pursue new procurement partnerships while prioritizing strategies to maximize profitability. With reduced accounting maintenance requirements, the company can now devote valuable time to expanding its market share and driving growth.

Bitwage is also in the process of integrating APIs that will seamlessly connect SoftLedger to their existing systems. This integration is expected to streamline the accounting process, eliminating the need for Excel spreadsheets to track cost basis.

Moreover, the cloud-based nature of the SoftLedger accounting platform enables instant and location-independent access from anywhere in the world, providing Bitwage with unparalleled flexibility and efficiency.

To experience the benefits of SoftLedger for yourself, book a demo today.