Tech companies face unique challenges as they scale, so having tight control over cash flow and budget allocation is vital. As more and more tech businesses move away from office-only working, it’s key to find a spend system that supports a remote-first culture. Soldo offers the automation that’s evolving tech companies need to manage spend and expenses effectively.
Overseeing multiple offices and remote workers in different countries makes managing spend more difficult. When individuals and teams are spread out, it can be almost impossible to get full visibility and control over every purchase, which can leave you vulnerable to overspending.
With Soldo, you decide exactly who can spend what, where. Issue physical or virtual cards to individuals, teams, projects, or departments and set rules and budgets for each one. Users can submit receipts easily with the Soldo app – they simply take a photo. Then they can add purchase information like VAT and spend category in a few clicks.
The average business has 60 subscriptions – and this number is likely to be higher for tech companies who rely on website hosting, productivity suites, and online advertising. When remote workers manage payments, there’s a bigger risk of duplicate subscriptions that waste precious company funds.
Soldo offers a centralised view of spending, so it’s easy to spot and cancel duplicate or unused subscriptions. Give each subscription a virtual card that draws from shared or dedicated funds, so more than one individual can access the card to track and manage costs. That means no more interruptions to vital services or campaigns when individuals change roles.
Marketing teams need to spend but keeping track of multiple channels, stock content, printing, and more across different cards can add hours of admin.
Remove the complications of multiple payments with dedicated cards for each campaign or project. Avoid the risk of overspending often associated with business credit cards and create spend limits for each card or set auto top-ups to avoid low balances. Get a real-time view of marketing spend as payments are made and a quick overview of all costs, so you can identify trends and savings by platform.
Tech is a fast-paced industry, so tech companies need to be agile. For growing businesses, cash flow is often tight, so the flexibility to spend quickly and cut budgets in an instant is key.
If you’re hiring new starters, expanding departments, or branching out in new categories, you need a spending platform that can grow with you. Soldo allows you to set up your account to mirror the structure of your business, complete with individuals, teams, and departments. This means you get a clear view of exactly which areas of the business are spending what. This also allows you to quickly increase or decrease spending for the different groups, so you can react to the wider market, keep on top of every penny, and get the best ROI.
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With Soldo, you control all business spending and – thanks to the integration with your accounting system – you can reconcile expenses quickly and easily. You can equip some or all employees, entire teams, or even external collaborators with Mastercard® Soldo cards , deciding who has access to company money and the rules by which to spend it.
No. Soldo provides additional spend management features that work alongside your business bank account, instead of replacing it. You can use your Soldo cards to separate staff spending from your main company funds, as well as accessing powerful new features that aren’t available with a traditional business bank account.
Soldo Financial Services Ltd is an electronic money institution, authorised and regulated by the Financial Conduct Authority (FCA): this means we have to follow strict compliance processes. We don’t lend or take risks with customer money, we access it solely to execute the customer’s transactions. Client funds are always protected, as they are completely independent of Soldo’s business accounts and assets. The funds are safeguarded under UK Electronic Money Regulations 2011 and cannot be claimed by Soldo creditors.
Yes, Soldo integrates with all major accounting systems. Soldo has the world’s most complete API connection to Xero, sending transactions daily via an automatic bank feed. Our seamless integrations with Xero, QuickBooks Online and NetSuite also make it easy to share enriched transaction data including receipts, categories, notes and much more – in just one click.
If you’re using another accounting platform – like Sage, FreeAgent or many others – Soldo makes it easy to export transaction data in a variety of formats, in two clicks. Transaction data can be exported in XLSX, CSV, QIF and OFX formats, making your data compatible with all major accounting software solutions.
Soldo isn’t just for small business, it’s for all business. Soldo scales from one card to any number, matching the structure of your organisation with wallets for departments or individuals, which fund cards for teams, employees or contractors.
Though our software is intuitive and easy to use, powerful reporting is made possible by smart filters and granular transaction data. So, whether your business has two employees or 20,000, Soldo can help you gain visibility and control over spending, while simplifying expenses and helping you gain the advantages of financial planning in your business.
We’re sure you’ll be happy with our service, joining thousands of satisfied businesses. But if you ever want to leave, you can close your Soldo account at any time and all the funds available on your account will be transferred back to the account from which they were initially deposited.