Issue expense cards
Issue expense cards with proactive spend controls
Empower your teams to spend while keeping control of cash flow with Soldo’s pre-set spending limits and pre-programmed expense cards.
Empower your teams to spend while keeping control of cash flow with Soldo’s pre-set spending limits and pre-programmed expense cards.
Traditional expense cards fall short for finance teams. They lack visibility into what’s being spent, require manual reconciliation, and don’t sync with accounting software. And without spend controls, they’re often limited to a few trusted employees.
Soldo offers a more proactive approach so you can get ahead of overspending before it happens. Finance teams are no longer reacting to month-end – they’re actively shaping them. Set clear spending guidelines with pre-programmed controls on expense cards. And use real-time data to manage spending as it happens. Finally, with integrations, everything is automatically synched to your accounting software.
When overspending only becomes evident at month-end, it’s too late to intervene. Every transaction made on a Soldo company card is visible in real time, allowing you to set limits, enforce policies, and control how your business spends.
Your team needs company funds to do their jobs, but you can’t risk a spending free-for-all. Soldo company cards empower employees to spend within set limits, ensuring compliance and preventing overspending.
Paper receipts slow down your finance team. With Soldo, every receipt is captured, every transaction categorised, and integrated into your accounting system. End-of-month reporting – made simple.
Lady Bacardi Media S.p.A, a global player in film production, used Soldo company cards to streamline their production expenses.
Here’s how it transformed their financial management.
A business expense card is a prepaid card that gives employees access to company money. Instead of having to use their own money (pay out-of-pocket), employees can use a business expense card to make purchases that relate to their work. Companies can allocate plastic or virtual cards to specific employees, teams, departments or projects to be used for spending with a pre-approved and allocated budget. To pay for business travel, for example, entertain clients or for recurring payments such as online subscriptions.
Expense cards provide controlled and immediate access to company money that businesses can issue to employees, teams, departments or projects for business purchases. Unlike corporate cards, Soldo expense cards are separate from the main business bank and connect to expense management software. Companies can then control spending by allocating expense cards with custom limits and rules that ensure all payments adhere to their expense policy. Expense cards can be plastic or virtual cards and used online or in-store. Some expense cards are named physical cards, allowing for pre-approved spending for the duration of the employee’s time at the company. Other expense cards may be temporary virtual cards, created for a single ad-hoc purchase or for a limited amount of purchases over a specified period of time.
Whether or not you can put business expenses on your personal card will depend on your company’s employee expense policy. Some companies will allow you to use your personal card and then they’ll pay you back as an expense reimbursement. It’s important to check the expense policy first because this will tell you what kind of purchases are approved and how much you’re allowed to spend on specific items or within particular expense categories. If you put a business expense on your personal card that falls outside of the expense policy, you may not be able to get an expense reimbursement.
The most efficient way to monitor monthly expenses is by using expense management software. This allows you to review and track company spending in real-time with visibility over who is spending, on what and how much. Good expense management software will generate accurate reports across all transactions for you. You should also have the option to sync and reconcile expenses and receipts with your accounting software and other business systems. Monitoring monthly expenses through a single platform like this is easier than switching between spreadsheets or other systems and is less susceptible to human error.
No, a business card isn’t the same as a credit card. A business card – also known as an expense card or prepaid card – is a more secure option that provides greater visibility and control over spending. There are several differences between a business card and a credit card. A credit card, for example, relies on an employee using credit to make purchases. A statement usually arrives every 30 days and the business is able to settle the bill, along with any interest. A business card, on the other hand, is topped up with a pre-approved amount of company money that is transferred in from the main business bank account. That means no surprises at the end of the month.
See Soldo in action. Talk us through the complexities in your expense management process and we’ll show you how Soldo can help.
