Spend-management platform Spendbase has launched a new range of financial tools for expense control, namely Digital Banking and Virtual Cards.
With the rollout, Spendbase adds to its spend optimisation offering and enters the business finance and financial management sectors. The new features are designed to support companies in managing their money in a faster and smarter way, enabling them to save more.
Corporate spend management
Leveraging Digital Banking, companies can decrease time to market, save time by instantly opening corporate IBANs for the EU and the UK, and gain more control with sub-accounts for specific teams, projects, or individuals. They can also make fast bank transfers via SEPA and Faster Payments.
With the Virtual Cards capability, users can issue from one to 100 virtual cards per organisation and set precise spend limits on each one. Additionally, they can multiply savings by up to 1.5% cashback and take advantage of better security with 3DS.
Spendbase’s mission is to offer businesses better visibility and control of their corporate expenses. With the new functionalities, companies can track teams, accounts, and individual levels better, optimising every dollar they spend.
Spendbase previously helped users cut out only software and cloud spending. As it continued to develop, it offered more expense management solutions, including end-to-end spend visibility from procurement to payment. One of the platform’s key features is performance-based pricing, as Spendbase charges 25% of what it helped businesses save. This reflects the company’s alignment with its clients’ growth, with clients typically saving four times more than they pay, according to Spendbase.
This move marks a milestone for the company, as its upcoming features are in development and include treasury management, payables automation, and accounting integrations, furthering its development and expansion into a complete financial operating system.
