These savings are calculated based on various data points such as the average time spent processing expenses (45 minutes for employees per report!) and T&E spend as a percentage of annual revenue. See all our sources in the table below:
% of people in company filing expense reports
22.5% of employees file expenses
Number of expense reports per filer/month
Average 1.33 per employee
Average hourly wage
£14.80 (median hourly wage UK 2019)
T&E spend as % of annual revenue
1% travel spend as a % of annual revenue
Finance team processing time per report
Employee filing time per report
Decrease in T&E budget
Soldo lets you take control of company expenses, save hours on finance administration and gain valuable insights into spending patterns within your business. With Soldo, finance teams can empower employees to buy what they need to do their jobs, while addressing the limitations of corporate cards, employee reimbursements, petty cash and more.
Automate the expense management process, and achieve greater control of the bottom line with real-time visibility over company-wide spend.