Most companies today rely on shared company credit cards or employees paying for work-related expenses out-of-pocket, filling out expense reports and then waiting to be reimbursed. This can be a lengthy process for both the company and the employee, sometimes causing friction and making things more complicated than they need to be.
Trust and transparency with Soldo build a healthy company expense policy, rather than one that is based on mistrust, delayed expense reporting and manual control.
Advantages for administrators
With just a few clicks account admins can distribute cards to whoever needs to make purchases for the company. Soldo’s main feature is that it enables managers 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. Account admins are also in control of any purchase made and therefore know exactly where the company is going in real time, making it easy to spot and prevent any suspicious behaviour.
Advantages for 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.
Advantages for 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.