How Soldo Slashed Costs, Boosted Efficiency, and Saved a Manufacturing Giant
In November 2018, Forrester Consulting teamed up with London‑based FinTech Soldo to crunch the numbers on a smart payment platform. Their report, The Total Economic Impact™ Of Soldo, delivered a clear, data‑backed picture of how far a company can go when it swaps out cumbersome bank cards for Soldo’s intelligent solution.
Case Study Snapshot
The focus was on a European Union manufacturing firm that had 2,000 employees—many of whom jet‑set to meet clients worldwide. They migrated from traditional bank‑issued credit cards to Soldo and instantly felt two big wins:
- Streamlined control—each department now sets its own spending rules.
- Time saved—the cards automatically capture receipts and category data.
Forrester modeled a three‑year, risk‑adjusted financial impact and uncovered a whopping 630% ROI with a payback period of less than three months.
Soldo’s Core Features
- Prepaid debit cards that employees can spend with—budget limits enforced at the card level.
- Instant approval and deduction at the point of sale.
- Spot‑photo upload for receipts, cutting down manual paperwork.
The Workforce Numbers
- Year 1: 450 employees using Soldo.
- Year 2: 550 employees.
- Year 3: 600 employees.
On average, every worker submitted 1.33 expense reports per month and saved 45 minutes per report. Half of those time savings slipped into more productive tasks.
What It Means for the Company
With bank cards, employees spent hours sorting receipts and manually entering data. Soldo cut that hassle by capturing expenses instantly and categorizing them via the app – no more tedious, receipt‑heavy reporting.
Financial Takeaways
The study found that a smart payment solution like Soldo can trim a company’s costs by over €250,000 across three years. That’s a tidy sum that proves efficiency matters.
Beyond the Numbers
Soldo also delivered:
- Employee satisfaction—freed from paperwork headaches.
- Data protection—pre‑authorized cards reduce fraud risk.
- Reduced overflow of overspending and unnecessary fees.
- Simplified reconciliation for finance teams.
- Less conflict and disputes between staff and management.
In plain English: the thousands of hours once lost to clunky processes were reclaimed, and the firm could finally focus on what matters—innovation, growth, and the occasional cheeky office pizza break.
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