Soldo cuts time spent on expense claims in half.
Read the Forrester study to learn how.
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It is common, however, that in many SMEs a finance department normally comprises less than one employee, a part-time finance controller or even the business owner trying to keep on top of the finances themselves.
With so much riding on this function, it’s crucial that business owners create streamlined efficient processes and management systems for company expenditure.
A common pitfall in many small to medium businesses is the handling of employee expenses. This is a frustrating task for both the employee and the employer which can become a significant overhead in any business. That said, inefficient management of company spending can create terminal problems in some SMEs.
Employees begrudge spending their own personal money on expenses and then having to waste precious work time on claiming the reimbursements. Conversely, finance departments are often left with large unexpected payments to make each month when an employee processes their expense claims. This can put a real strain on the cash flow of a smaller business and employee morale can be adversely affected if the claims are not paid promptly.
Here at Soldo, we have created a solution to address the issues faced by both employees and business owners. Our prepaid business card allows expenses to be managed in a far more efficient manner.
Once companies get a prepaid business card, such as those offered by Soldo, the card will allow business owners to issue employees with individual prepaid cards, or virtual cards, to handle all expenses. The finance department can set limits on spending, and restrictions as to what the card can be used for and where it can be used.
Soldo’s prepaid business card allows better handling of expenses for everyone. The dashboard integrates with all major accounting software including Xero, Concur, Expensify and more.
Limits and restrictions on each card can be individually set for each card, making the card bespoke to the individual user. Spending restrictions can even be set on types of spending and geographical locations, for example, travel expenses in the UK only.
Soldo’s prepaid business card puts all team members on a level playing field when it comes to expenses. All too often, company cards are reserved for those in higher management positions, which can demotivate junior staff who are required to manage their own expenses out of pocket. Our card means that no employee is left out of pocket at the end of the month.
This is just one of the spending management solutions from Soldo. We are already empowering proactive, decisive, forward-thinking businesses to take control of employee spending and to keep a closer eye than ever on company expenses. Join Soldo today and find out how a Soldo account can help you cut down the hours of manual expense processing and devote that time to growing the business.
Read the Forrester study to learn how.
Download study
