Most common expense management problems that Budgetly solves

Managing business expenses can be a complex and time-consuming task, especially for small and medium-sized enterprises (SMEs). From manual reconciliation to lack of visibility on budgets, these challenges can hinder financial efficiency and control. Budgetly addresses these common problems with innovative solutions designed to simplify and enhance business expense management.

1. Manual reconciliation challenges
2. Lack of visibility on budget limits
3. Time-consuming receipt collection
4. Delays in credit card issuance
5. Integration with accounting software
6. Taking the next step in expense control

Manual reconciliation challenges

Traditional expense management often involves manual reconciliation, where finance teams match receipts to transactions, verify expenditures, and input data into accounting systems. This process is not only time-consuming but also prone to errors, leading to inaccuracies in financial reporting.

How Budgetly helps:

Budgetly automates the reconciliation process by providing real-time transaction data and integrating directly with accounting software. Each transaction made with a Budgetly card is automatically recorded, categorised, and matched with the corresponding receipt, reducing the need for manual intervention.

💡 See how Enterprise Services eliminates spreadsheets and “saves half a day” with Budgetly.

Lack of visibility on budget limits

Without clear visibility into budget allocations and spending, businesses risk overspending or misallocating funds. Employees may unknowingly exceed their budgets, leading to financial discrepancies and challenges in maintaining fiscal discipline.

How Budgetly helps:

Budgetly offers a centralised platform where administrators can set and monitor budgets for different teams or projects. Employees have access to their allocated budgets and can track their spending in real-time, ensuring transparency and accountability.

💡 Watch how Budgetly gives these two businesses complete visibility over their spending.

Looking to improve expense management? Explore free Budgetly resources at your fingertips.

Time-consuming receipt collection

Collecting and managing paper receipts is a tedious task that often results in lost documents and delayed reimbursements. This manual process can hinder timely financial reporting and create administrative burdens for both employees and finance teams.

How Budgetly helps:

With Budgetly's mobile app, users can instantly capture and upload receipts at the point of purchase. These digital receipts are automatically linked to the corresponding transactions, simplifying record-keeping and eliminating the reimbursement process.

💡 Read how Aurora Southern Highlands Steiner School saves 4 hours a week with Budgetly.

Delays in credit card issuance

Obtaining corporate credit cards through traditional banking channels can be a lengthy process, involving extensive paperwork and approval times. This delay can impede business operations, especially when immediate purchasing power is required.

How Budgetly helps:

Budgetly enables instant issuance of virtual and physical prepaid Visa cards. Administrators can quickly generate and distribute cards to employees, providing immediate access to funds and eliminating delays associated with traditional credit card applications.

💡 Learn how Arvensis Research eradicates complicated bank credit card processes with Budgetly.

Integration with accounting software

Manually entering expense data into accounting systems increases the risk of errors and consumes valuable time. Lack of integration between expense management tools and accounting software can lead to discrepancies and inefficient financial workflows.

How Budgetly helps:

Budgetly seamlessly integrates with popular accounting platforms like Xero, ensuring that all expense data is accurately and automatically synchronised. This integration simplifies financial processes, enhances data accuracy, and provides real-time insights into company spending.

💡 Supports In Sync shares how Budgetly and Xero help them reclaim 5 hours every week.

Taking the next step in expense control

Effective expense management is crucial for the financial health and operational efficiency of any business. By addressing common challenges such as manual reconciliation, lack of budget visibility, and delayed card issuance, Budgetly empowers businesses to take control of their expenses. With real-time tracking, seamless integrations, and user-friendly tools, Budgetly simplifies expense management, allowing businesses to focus on growth and success.

Start managing your business spending smarter with Budgetly.

Why not schedule a demo with us today, or watch a 10-minute recorded demo!