There are two goals we want our customers to achieve through their adoption of Soldo: Simplicity and Efficiency, because we believe that efficiency is a competitive advantage in business. But unfortunately what we see in many businesses today, is that complex procurement processes, outdated payment methods, and tedious reimbursement approaches are a drain on time which slows down progress.
That’s why we built Soldo. To change the way businesses spend, for the better. So every employee, department, and team are more productive and successful at work.
A study conducted by Forrester Consulting, commissioned by Soldo, found that finance managers reduced time spent on expense claims by 62%. Soldo also delivered an 80% time-saving on financial reporting, and an average ROI of 358% over 3 years.
Soldo, from a top-level, provides three advantages:
- Ability to control spend without delays. Help your team buy what they need for work, on time, and in budget. Customers use Soldo to give controlled, trusted access to company money when and where it’s needed.
- Streamline financial administration. Free up more of the financial and accountancy teams time for strategic work, with Soldo’s automation capabilities and integrations. With Soldo, Finance teams can automate up to 80% of their spending admin and focus on their work that matters most.
- Unlock real-time insights. Get real-time visibility of company spending to make better business decisions. Finance teams use Soldo to generate detailed reports and create a single source of truth on spend.
Specifically Soldo provides advantages and benefits to a number of key roles in a business:
- Finance Managers. Can configure an organisational structure within the platform, that represents their business and the way company money can be spent. Divisions, teams and projects can setup, with relevant employees, so that money can be allocated correctly, using Company Wallets, based on operational budgets. This means that only the money assigned is spent and that reporting is based on business structure. Finance managers can also distribute cards, in a few clicks, to whoever needs to make purchases for the company. Soldo’s main feature is that it enables finance managers and budget holders to have real-time control over all company spending. By setting individual spending limits, managers can make sure that employees never go over their weekly or monthly budget, and any suspicious behavior can be identified proactively.
- Accountants. Soldo was initially designed for and by financial people who often found themselves performing tedious financial tasks such as chasing people for receipts or trying to identify unknown transactions. With Soldo, accountants can have a full overview of company spending while employees are made responsible for adding receipts to their transactions. Using custom tags ensures that Soldo fits in perfectly with the company accounting procedures.
- Employees. Soldo makes it easier than ever for employees to make company-related purchases. No need to fill out paperwork, pay out-of-pocket or ask managers to share their card. Employees receive their own virtual or plastic Soldo card from their manager which they can use anytime they need to make company-related purchases. Real-time notifications remind them that they have to add a receipt to the expense.