Soldo has launched Purchases, a solution that reduces the time-drain and risk brought about by ad-hoc payment admin and corporate card sharing.
Purchases is the new Soldo tool for managing one-time payments. Usually carried out using physical cards issued to certain employees, such payments bring three key challenges to businesses: managing requests are tedious and costly, sharing card details is risky, and tracking spend proves tricky.
Purchases solves these challenges by handling the request and approval process and issuing single-use virtual cards for employees – empowering them to make their own online purchases and taking pressure off already stretched finance teams.
With Purchases, businesses can give the green light to certain types of purchases, block others and set total costs – giving finance teams peace of mind money, and the amount, is being used in the approved way. In addition to this, transaction data is available in real-time – so finance teams have sight of spending when and where it happens, without waiting until month-end. This visibility is critical always, but even more so in the current climate in which many businesses continue to work with tight purse strings due to the pandemic.
Carlo Gualandri, Founder and CEO of Soldo said:
“Our mission is to give businesses insight and control of spending across the entire organisation, with flexible solutions that meet their different needs. With Purchases, time and effort once spent chasing and approving requests, uploading purchase orders, and processing employee reimbursements is cut – so finance teams can spend time on the things that matter.”
