Tracking and keeping control of corporate spend is one of the biggest challenges that finance teams have. Hundreds of hours are wasted each month managing high-risk manual approval processes (therefore often requiring involvement from the most senior people in the organisation), receipt-chasing, reconciliation with accounting software and reporting. On top of this, poor visibility of spend means that businesses waste thousands of pounds on poorly managed subscriptions and risk making bad spending decision without the complete picture on their overall spend and budgets.

This impacts everyone in the organisation:

• Finance teams are demotivated by spending hours on low value admin
• Management teams are expected to manage a budget but don’t have the right tools to do so effectively
• Team members get frustrated by slow approval processes and don’t have any autonomy to make good spending decisions

Kloo are solving this with a platform that brings control, visibility and flexibility to company expenses. The solution comprises of:

• Flexible card (virtual and physical) and invoice management products that allows organisations to properly distribute responsibility for managing budgets across their team, in a way that enables the finance team to keep control
• Comprehensive reporting and insights on all corporate spend in one platform, in a way that enables teams to keep on top of their spend and identify opportunities for optimisation
• Integration with accounting software, so that Kloo fits seamlessly into the existing finance tech stack

To find out more about Kloo, click here