Care homes is one of the fastest growing sectors for technology company Soldo which supplies providers with a multi-user expense account system.
The service uses MasterCard payment cards and includes intuitive administration and reporting software to help care homes streamline their business expense cycle from spending to reconciliation.
Providers can create expense ‘wallets’ for their group or their individual care homes with MasterCards provided to key employees. The cards are automatically topped up to an agreed figure and the care home can set controls on how and when the cards are used.
“The app allows care workers to attach receipts and keep notes, while all transactions can be seen by the financial controller or accounts manager on a main dashboard,” says Soldo’s marketing manager UK Julia Robertson.
The Soldo platform is fully integrated with the popular online accounting software Xero and will soon be linked to other similar products such as QuickBooks.
“We were not specifically targeting care homes when we launched in 2017 but there has been a large uptake from providers,” says Robertson. “They can see the benefit of using the cards and the system to help care workers who may be taking residents on trips, for example, or have to buy items on expenses.”