The best expense management software for your business

Soldo’s expense management platform – at a glance

Business expense management can seem like a daunting task, but Soldo’s software systems can simplify the process for you and your teams. Read on for an in-depth exploration. Classic business credit cards can’t keep up with the needs of modern business. There was a time when these cards were cutting edge; now, more and more businesses are switching to prepaid systems like Soldo’s.

The Soldo solution

Soldo’s solution pairs prepaid business cards with an intuitive expense management software. In fact, Soldo’s software is designed to make every step of the expense management process easy, from the point of purchase to the reconciliation. It’s especially useful for business owners, because administrators can view activity on all cards in real-time and keep an eye on expenditure from anywhere. This level of visibility makes spend tracking a breeze. Our software keeps track of any purchase logged by employees via receipt capture in our expense app and automatically creates expense reports. This eliminates the need to keep hold of paper expense receipts, and makes your finance team’s workload considerably lighter.

Efficient Reconciliation

Speaking of finance teams, they’ll love Soldo’s integrations with accounts software such as QuickBooks and Xero. At the touch of a button all of your spend data can be transferred to your preferred accounting platform. Spending, expense management, bookkeeping; Soldo makes it all easier. Get started today.

Expense management can be time consuming

Expense management probably isn’t a process you find particularly thrilling. It’s an aspect of running a business that can drain your enthusiasm. From double checking receipts to distributing funds, expense management has the potential to be an admin nightmare. But there is a better way. Here, we’ll look into how the right management tools can revolutionise your finance processes, saving you time and money.

Although we may not enjoy managing business expenses, it’s a necessary process.

Keeping track of the company’s outgoings is crucial to ensuring your financial plan is on track. And if you’ve got numerous employees spending on a daily basis, you need to know where it’s going.
As well as it being good business sense, efficient expense management is legally important, as there can be complications with HMRC if you aren’t following tax guidelines on allowable expenses correctly.

But all of this doesn’t need to be difficult. If you have a robust and simple expense policy that’s followed by the whole team, then you’re one step closer to getting expenditure under control. Even better than that, if you invest in the right expense management software, you can track, analyse, and alter your business spending with ease. Unfortunately, lots of companies are still using traditional expense processes that aren’t fit for modern businesses.

Traditional processes can’t keep up

As it stands, business credit cards are one of the most popular payment methods for businesses. Although these cards can be useful, they’re certainly better than petty cash but, they aren’t perfect.

Ordering multiple business credit cards can be difficult or impractical, many businesses end up sharing one card amongst an entire team. This poses multiple issues. For one, spending can easily spiral, and you may not find out how much has been spent until statements come through at the end of the month.

Related reading: Learn why Soldo’s solution is better than a business credit card

Even if you do know how much has been spent, finding out who spent it and what it’s been spent on can be a pain. You might find yourself sifting through stacks of receipts to find out where that missing £50.00 went. There is a smarter way to do business.

On top of these problems, company credit cards are also insecure. Because of their communal nature, the cards can easily be lost, stolen, or misused. And since they’re directly connected to a bank account, the risk of your company’s funds being compromised are much higher than they are with other systems like prepaid cards.

Overall, business credit cards have low spend-visibility, pose a security risk, and create admin nightmares. Thankfully, there’s a better way.

Simple expense management software

Rather than having a business credit card that you share amongst your whole team, why not switch to something more streamlined? Soldo’s smart prepaid system is designed to make every step of the expense management process simple. Every Soldo plan comes with a number of key features that will allow you to manage funds efficiently. Below are some of the most prominent features.

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Soldo prepaid cards

Soldo’s prepaid card system is part of what makes them so useful. Unlike traditional payment cards, which often have sky-high limits, each Soldo card is its own fund, and the limits that you set can’t be exceeded.

Our cards have no connection to the company bank account. Instead, you load them with a certain budget, which can be done manually or on a rolling basis, and decide how these funds can be spent.

This way you don’t have to worry about your team sharing one card or spending spiralling out of control. You always know where your cash is and how it’s being spent.

Automated expense tracking

Not only does Soldo make it easy to stick to a budget, our software also allows for easy expense tracking. Here’s how it works: an employee purchases something, snaps a photo of the receipt, and Soldo collates all the spend-data for analysis and reconciliation. It’s as simple as that.

With Soldo you don’t have to keep stacks of paper receipts around. Instead, you and your finance team can get a comprehensive view of the business’ finances all in one place.

Intuitive mobile app

Our mobile expense app is extremely versatile. Not only is it useful for capturing expense receipts, it can also be used to hold virtual cards, customise spend rules, and transfer funds from anywhere. Employees expenses are easier to manage using the app while they’re on the go in order to spend, while managers can view the finance data of every card issued.

Effortless approvals

Although Soldo makes it easy for employees to make secure spending decisions with minimal input from their directors, there will always be times when it’s necessary to approve an employee’s purchase. It could be a one-off item that falls outside of usual spend-categories, or it could be a purchase that exceeds an individual’s monthly limit. Soldo cards are customisable to meet those demands with single-use card solutions.

These virtual prepaid cards can be generated for a single purchase. Employees simply make an in-app request which directors can approve, generating a single-use card that expires after the purchase is made. Only you and the employee who requested the purchase can access the card details, which are securely stored in the Soldo platform. This makes for safe spending and easily traceable expenses.

Integrated accounting software

Soldo is useful for more than just expense tracking. Once you’ve collated your spend data, our seamless integrations with software like QuickBooks and Xero make bookkeeping effortless. You can transfer data across to your preferred program in a click, making life easier for accounting teams.

And if you use any other software, we’ve got you covered. Soldo’s expense reports are easily exportable and can be input into any accounting system.

accounting with expense management software

Switch to Soldo and save

Ultimately, Soldo exists to make employee expenses easy. Our versatile app for mobile or desktop provides a complete view of your finances, and offers total control. You choose how much can be spent, who can spend it, and what it can be spent on. Then analyse spending with automated expense reports. That’s expense management as it should be.

There’s a Soldo package for every business, and with no need for a credit check, you can apply in minutes and be up and running the very next day. Upgrade to the complete expense management solution by switching to Soldo today.

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“When we switched to Soldo, it became obvious that it was quicker and more efficient. There’s a greater feeling of security; we have more confidence in Soldo than the traditional corporate credit cards.”

Mark Taylor

Director of Finance at Plymouth College of Art

“Petty cash and reconciling credit cards took a total of 6 days a month. Now it takes me half a day. It’s saving us time! It’s got great flexibility and it makes my life a lot easier”

Sandra Curran

Purchase Ledger Coordinator at Making Space

Apply online in minutes and start spending in as little as one working day.

No credit checks, no hidden fees, no fixed contracts. Cancel anytime.

1. Complete registration

We need to confirm your identity and address. Upload a few documents and you’ll be done.

2. Add funds

Load money to your account to order your Soldo card. Receive it in 2 working days.

3. Start spending

Shop online or instore safely with your contactless card.

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Let’s find the right Soldo expense management plan for you

Choose a plan that fits the way your company spends. Apply in minutes, get going in as little as one working day, and cancel anytime.

Bank-level security – FCA regulated & PCI compliant

Start

A basic plan giving you a taste of the Soldo platform.

£0per user/month

Up to 3 users and cards

Features include:

What’s included?

Features include:

Virtual or plastic cards for your employees
Set individual spending limits
Google Pay and Apple Pay
On-the-spot receipt capture
Xero, Sage and QuickBooks integrations
Accountant access for reporting

Pro

Get added flexibility to control funds and manage company spending.

£6per user/month

Minimum of 3 users

All of Start, plus:

What’s included?

All of Start, plus:

Choose between individual, team and fuel cards
Allocate dedicated funds to users
Standard approval workflows for one-off purchases
Single-use virtual cards for one-off purchases
Virtual cards for recurring payments including subscriptions
Advanced card rules to control spend
Review and approve expenses

Best for growing businesses

Premium

Get increased visibility, control and support for multiple currencies.

£10per user/month

Minimum of 3 users

Every feature from Pro, plus:

What’s included?

Every feature from Pro, plus:

Multi-currency: GBP, USD, and EUR
Customisable roles and permissions
Auto classify transactions
Custom approval workflows for one-off purchases
Organise your company in teams or departments using groups
Advanced reporting

Enterprise

For medium and larger businesses, that need customisation, flexibility and dedicated support.

Custom pricing Unlimited users and cards

Book a demo

All the benefits of Premium, plus:

What’s included?

All the benefits of Premium, plus:

Add as many users and cards as you need
Dedicated account manager and customer success manager
Custom onboarding and training
Access to APIs for integrations

These prices exclude VAT. The Soldo software platform is operated by Soldo Software Ltd. The emoney business account and payment services are provided by Soldo Financial Services Ltd and are subject to additional fees such as, card issuance, cash withdrawals and others. See all the financial services fees here, and the typical limits here.

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