Spend-management platform Spendbase has recently introduced a series of financial tools for enhanced expense control, including Digital Banking and Virtual Cards.
The launch of these new features extends Spendbase’s focus on spend optimization into the realms of business finance and financial management. These tools are crafted to help businesses manage their finances more efficiently and save costs.
Corporate Spend Management Solutions
Spendbase’s Digital Banking allows companies to streamline their operations by quickly setting up corporate International Bank Account Numbers (IBANs) for the EU and the UK. Additionally, it enables the creation of sub-accounts dedicated to specific teams, projects, or individuals, providing better financial control.
Users can also perform swift transfers through SEPA and Faster Payments with Digital Banking. The Virtual Cards feature enables organizations to issue between one to 100 virtual cards per entity, setting precise spending limits on each card. This not only enhances security but also allows for up to 1.5% cashback.
Spendbase aims to provide businesses with greater visibility and control over their corporate expenses. The updated functionalities enable tracking at the team, account, and individual levels, optimizing every expenditure.
Before expanding its services, Spendbase primarily focused on reducing software and cloud spending. As it grew, it introduced end-to-end spend visibility from procurement to payment. A key feature is its performance-based pricing model, charging 25% of the savings achieved by the users. This aligns with Spendbase’s commitment to its clients’ growth, as they typically save four times more than what they pay according to Spendbase.
This development signifies a significant step for Spendbase, as it continues to build on its functionalities, with upcoming features like treasury management, payables automation, and accounting integrations. These enhancements will position the platform as a comprehensive financial operating system for businesses.
