Fremantle is a global media production and distribution company with offices in over 25 countries. Part of RTL Group, Fremantle produces and distributes award-winning entertainment, drama, films and documentaries, including popular shows like The X Factor and Britain’s Got Talent.
We spoke to Emma Cordery, Finance Director, and Rachael Coleyshaw, Production Accountant, about Fremantle’s transition from petty cash to Soldo and how it has improved how everyone – from runners to finance managers – manages money.
Before Soldo, Fremantle relied on cash floats via petty cash or bank transfer to manage certain production expenses. For example, the Art Director or Wardrobe Director would request floats from the Production Accountant and then handle large amounts of cash, which inherently brought significant risks.
“From an internal control perspective, we adhere to very high standards with limiting cash use being a key component” – Emma Cordery, Finance Manager
Float holders had to submit Excel expense forms, staple receipts to a blank piece of paper and return any remaining cash. With multiple productions running simultaneously, this could be inefficient and difficult to track. When more money was needed, all expenses had to be returned with receipts and fully reconciled before another float could be issued.
“We would give the runners and researchers a cash float, then they would do the expenses as well. There would be reams and reams of expenses to process, input and reconcile.” – Rachael Coleyshaw, Production Accountant
Finance and production accountants spent valuable time ordering large amounts of cash, collecting it from a bank or internal cash department and storing it in a large, physical safe with a combination lock. Lost or missing receipts were common, especially for employees on location.
For production assistants and runners, float holders would give them cash for day-to-day errands, such as coffee and props. Departments often struggled to accurately track who had money, how much and for what purpose.
Solution: Streamlined spending with Soldo
Since adopting Soldo in 2018, Fremantle has transformed its approach to managing spend:
- Dedicated wallets: Each production received a wallet funded upfront. Production Accountants control wallets and spending, assigning cards to individuals who need floats.
- Seamless compliance: Employees sign clear guidelines and upload receipts as soon as they purchase, improving accuracy and accountability.
- Enhanced control: Employees can only be assigned to one production at a time and must fully reconcile spending before moving on to another show.
- Clear responsibility: If a cardholder leaves, their final payment or invoice is paused until the card and float are fully reconciled, reducing losses and improving compliance.
Impact: Less admin, more control
Soldo has significantly reduced administrative tasks for Fremantle’s production finance team, so they no longer spend hours arranging cash or managing manual reconciliations. With instant visibility into spending, accountants can quickly identify missing receipts or discrepancies.
On a recent production, Fremantle processed 46 expense claims through Soldo. With real-time monitoring, the finance team saved around 45 minutes per claim, adding up to approximately 35 hours saved on just one production.
Finance Accountants can manage reconciliations, floats and expenses remotely and continuously throughout the production period, improving cash flow. Soldo cards allow instant refunds to be processed when items are returned, with the money appearing directly on the card. This was previously more difficult with cash, where returned items often resulted in credit notes, making it difficult to track spending or recover value.
“Since introducing Soldo, it has revolutionised the way we work,” – Rachael Coleyshaw, Production Accountant
The future: Eliminating cash and empowering teams
Fremantle has almost completely phased out cash floats in the UK. Company settled credit cards are now limited to select senior positions. Soldo ensures every employee has their own card, providing accountability and immediate visibility for finance teams.
“What’s fantastic from an accountant’s point of view is that there’s no longer any worry about trust. I can see exactly how each person is spending and whether they’re uploading receipts straight away. And it’s drummed into them.” – Rachael Coleyshaw, Production Accountant
With 50-70 regular employees empowered to spend with greater control, Fremantle now spends less time managing cash and more time focused on strategic and creative production, helping the business run more effectively, efficiently and securely.
