Industry: Marketing Agency
In the time-based professional services industry, every minute of admin eats away at the bottom line. Gus and the team at Salience prefer to spend their time helping brands like Alibaba, Honda and Virgin Money to achieve ambitious growth targets. Thankfully, Soldo helps them do exactly that.
- Streamlined expense process
- Reduce administration
- Direct Xero Integration
For Gus and the team at Salience, losing hours to expense management and accounting administration is not an option.
“Soldo’s become an invaluable tool for my business, saving us a significant amount of time managing employee expenses.”
More than minutes
For Gus and his co-founder, Alyssa Crankshaw, the inefficiency of traditional expense management was just one of its disadvantages. The common practice of reimbursement – with delayed repayments and cumbersome administrative processes – was a poor fit for the company’s ethics.
Gus delineates: ‘Within the business, there are expenses that the team needs to make to do their jobs properly. As a business, we fundamentally don’t believe that our employees should be loaning money to the business.’
Wasted time also resulted in employee frustration – traditional expense management processes were tedious, keeping them from their work.
With Soldo, Salience completely transformed their expense management process, drastically reducing the time spent on admin. And, when Soldo added a complete integration with Xero – the UK’s most popular online accounting software – the time-savings multiplied.
Using the integration, Salience can export their accounting information – including receipts, tax rates and tracking codes – into Xero, in one click. And any spending from their team’s Soldo cards (everybody has one) flows into the accounts daily via an automatic bank feed. It means the team has an up-to-date view of cash flow and an effortless reconciliation process.
The business that matters
Because Soldo allows Salience to provide funds for expenses up front, employees are never left out of pocket. In fact, Salience now uses Soldo for employee perks and gifts – one employee even received funds to spend on her honeymoon. The Soldo card has become part of their culture – Gus says, when welcoming new team members: ‘They get an email address, a laptop and a Soldo card.’
And the time saved by streamlining expense management and accounting means Gus can spend more time doing the things he loves. Gus enthuses: ‘Now that I’m using Soldo, I can’t imagine business without Soldo. I’m in complete control of my time, to focus on the business that matters.’