Soldo - what to expect from this business expense management service?

What is Soldo?

Soldo is for businesses that still use expense reports, spreadsheets, and other manual processes to manage their employee's expenses. Its solution, which targets all sizes of companies, allows them to continue using their existing bank accounts while creating dedicated expense accounts. Prepaid MasterCard plastic and virtual cards and an app that allows transaction data to be recorded at the time of purchase and integrated with corporate accounting software such as Xero, QuickBooks, Concur, Expensify, NetSuite, SAP etc.

Besides, businesses can create cards with limits and personalized spending rules for their employees. The application also allows taking pictures of invoices to facilitate expense management.

The solutions proposed by Soldo are focused on meeting the needs of small and medium-sized companies, nonprofits and freelancers. 
Soldo Cards can be used around the world for both cash withdrawals and payments online and in brick-and-mortar stores. This solution is very flexible because it is a typical card, but the business/administrator maintains complete control and can monitor its management. Soldo offers these features:

• Approval Process Control
• Expense Tracking
• Budgeting/Forecasting
• Prepaid Cards
• Multi-Currency account (USD, EUR, and GBP)
• Workflow Management
• Receipt Management
• Reimbursement Management
• Spend Analysis
• Spend Control
• Time & Expense Tracking

Soldo services

Soldo is a product that was created for businesses (and freelancers) and has been structured in order to adapt to certain business needs.

For Small and medium-sized enterprises: Soldo allows you to comply with the new regulations regarding e-invoicing and digital control of expenses. If your company is growing, it will allow you to have specific control of your resources. For your employees, you can use individual prepaid cards to pay for various expenses.

Large companies: Soldo offers the possibility of having multiple prepaid cards (the number can be expanded) to help better manage a company's expenses with a large number of employees. This means dividing the activities of the individual departments and assigning cards with built-in budgets and tools.

Non-profit: If you are the owner of a non-profit enterprise, such as a cultural association, Soldo allows you to have prudent and careful management in full compliance with the new legal regulations.

Soldo products

Soldo offers two plans; please note that currently, it does not offer any free trial or a standard/basic (free) plan.

Soldo Pro

Soldo Pro offers a wider and richer range of services. Here are some of the features of the card:

• Issuance of multiple cards.
• Free transfer of funds to associated cards.
• Issue of the monthly statement.
• Receipts uploading.
• Diversification of roles and permissions to use the funds.
• Integration with Xero.
• App and web console.
• Basic reporting

Soldo Premium

Ultimately, Soldo Premium is the most comprehensive plan. In addition to all the features present in Soldo Pro, with Soldo Premium you can request non-nominal business cards, access more advanced reporting and the ability to custom-configure various company roles.

To get a complete idea about Soldo fees, please visit AskWallet.

Is Soldo Safe?

Soldo is a safe, reliable electronic money institution and is authorized to operate by the FCA (Financial Conduct Authority). If you were to rely on Soldo, you must know that your money is safe in protected accounts with Intesa Sanpaolo (an Italian international banking group). Your savings will also be returned to you in the event of company insolvency.

Soldo makes security its strong point. The data available to the company is stored through high standards of security, integrity and stability. Customer data is also protected and will never be shared with third-party commercial realities.

Soldo adheres to the new European regulations on access security, allowing access to the main account only through a double identity verification through the pin.

Conclusion

Soldo is a service that has attracted positive reviews from entrepreneurs and companies. It is an innovative solution that makes the financial management of your company simple. I appreciate that Soldo allows one or more Soldo cards to various centres (offices and company departments) or to each employee depending on the type of company structure. Each card is autonomous, so you can change the spending limits by customizing them according to different needs.

The solution also enables the management of the validation workflows, creation of accounts statuses and roles, etc. In our opinion, whether you are an individual entrepreneur, accountant or even financial director, Soldo is a convenient and easy-to-use solution.
With its vast array of features, enterprises of various sizes could benefit from Soldo; the prepaid cards with built-in budgets and tools are a great method to monitor spending.

Another benefit is that Soldo is available on desktop and mobile, which allows companies to manage their business expenses in real time. For larger structures, for example, companies can give managers the authority to refuse or accept an expense from the mobile application.

If you are interested in comparing Soldo with similar services such as Pleo, I recommend using the AskWallet platform with comprehensive reviews and real user testimonials to help you decide which service to choose.