Company spending: Shed light on every cost

With most approaches to managing business spending – like expense reimbursement, company debit cards, and corporate credit cards – there’s little to no control over costs. But there’s a simple way to put control in your hands.

The Soldo platform centres around smart prepaid company cards that connect to a central administrative tool. You set budgets and rules, governing who spends what and when. Those rules are baked right into the cards – whether plastic or virtual – applying your policy automatically.

It all means there are no more nasty surprises, and you can finally take proactive control over your business’ spending.

What you can’t see, you can’t control. So, step one in gaining better control over costs is creating transparency around each and every transaction. Soldo does this by connecting prepaid Mastercard® cards directly to an online management portal.

Every transaction is visible in real time, showing exactly who spent what and where. And employees are prompted to capture receipts and additional details – like VAT rates, expense categories and more – right there at the point of purchase. The second it’s added, it’s visible to administrators, giving you the visibility you need to make better decisions.

When it comes to managing spending, there are a range of tools that help with procurement and approvals processes. They’re handy for managing spending on big ticket items. But the variable costs businesses incur each day – like stationery, software subscriptions, travel, and online adverts, for instance – are much harder to manage.

These costs make up around 20% of a typical business’ total costs, so it’s well worth getting a grip on these costs. And that’s exactly what Soldo is designed to manage. It’s a spend management platform that gives employees prepaid company cards to manage all sorts of business spending. And you get effortless control on desktop or mobile with intuitive administrative tools.

Spending can be a messy process with a paper trail that keeps finance teams and employees busy for weeks after each individual transaction. It’s inefficient, with the need to distribute funds, file expense reports, and reconcile accounts. But there’s a simple way to automate and streamline the majority of your business spending processes with one inexpensive tool.

Soldo combines prepaid Mastercard® cards with smart mobile apps. Management of funds is easy, with administrators being able to quickly allocate money and set spending rules. Employees get access to exactly the funds they need, and nothing more, with their own plastic or virtual cards. Reporting is automated, with employees simply snapping a photo of the receipt at the point of purchase and tapping in notes, categories and VAT. And Soldo integrates with your accounting software, so month-end reconciliation is a piece of cake.

If you can pay by card, you can manage it with Soldo. Manage company spending on all sorts, including software subscriptions, business travel, online advertising, office maintenance, IT equipment, training and rewards, printing and marketing… the list goes on.

You set the limits, so whether you’re spending pennies or thousands, you can control spending with Soldo.