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Spenmo Reviews & Product Details

Spenmo is the go-to payments software for growing businesses. We are an end-to-end payables software that brings internal spend management, corporate cards, automated bill payments, approval workflows, and accounting reconciliation into an integrated view. Companies that use Spenmo save over 50 hours and $10,000 every month. Upon completing the Y-Combinator program in 2020, Spenmo has since grown to over 200 employees and raised over US$85M in venture capital from leading investors such as Y Combinator, Insight Partners, Addition, Salesforce, Global Founders' Capital and Alpha JWC.

Seller

Spenmo

Languages Supported

English

Product Description

*Corporate and Virtual Cards -- Issue unlimited physical and virtual credit cards to your employees for secure local and international payments. Spenmo cards are equipped with security features such as real-time payment updates with quick detection of fraudulent activities and dubious transactions. With Spenmo, you can freeze and unfreeze cards with one click, block purchases from unauthorized vendors through our merchant lock feature, as well as customize the card limit of each team member. *Cheapest International Transfers -- Spenmo offers the cheapest and best FX rates, at 0% FX rate markup. We provide the rates that you see on Google. Never worry about burning FX charges when you’re paying overseas suppliers, remote workers, or international payroll. *Automated Local and International Transfers -- Reduce the time it takes to make your payments by 80% in 2 steps. Email your invoices to Spenmo or bulk upload them in your dashboard and our technology will be able to scan and extract the data required to automate the payout to your suppliers and vendors around the world. *Seamless Expense Claims -- You may also take advantage of Spenmo’s platform for seamless employee expense claims, which allows you to reimburse claims in 3 easy steps. Simply take a photo of your receipt or invoice, upload it, and have it approved via the approval workflow set by your company. *Convert Credit to Cash -- Utilise your company credit cards to their full potential with Spenmo. Upload funds to your dashboard using your credit card through Spenmo’s ‘Convert Credit to Cash’ feature. We support all major credit cards from Citibank, DBS, HSBC, OCBC, Standard Chartered, and UOB. *Payroll Management -- Empower your company and your employees with Spenmo’s free and confidential payroll system. With Spenmo’s payroll system, companies can process domestic and international payrolls for free. In addition, you can bulk upload employee salaries in a few clicks, regardless of what bank account they have. *Accounting Reconciliation -- Spenmo syncs with your existing accounting systems such as Xero Advanced Integration, Quickbooks, and more."

Overview by

Yun Fang Tay

Pricing

Pricing provided by Spenmo.

Basic

Free

Per Month

Premium

Per Month

View More Pricing Information

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Spenmo Media

Spenmo Demo - Building a magical payables experience for businesses

Homepage

Spenmo Demo - Get instant access to virtual and physical cards

Corporate Cards

Spenmo Demo - Enjoy seamless cross-border payments with the cheapest rates in the market

Bills Payments

Spenmo Reviews (60)

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Melinda S.

director

Small-Business (50 or fewer emp.)

7/24/2022

"Not much use now"

3.5/5

What do you like best about Spenmo?

easier to make payment to individual and paynow Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

make payment with card most of the time error Review collected by and hosted on G2.com.

Pheng Soon T.

Consultant

Small-Business (50 or fewer emp.)

1/31/2023

"All you need for your payables and employees' claim"

4/5

What do you like best about Spenmo?

Intuitive dashboard

Unlimited virtual cards for all of us with 1% cash back on card spending

Bills payment with attractive exchange rates

Integrate with Xero

Good support

2FA

Approval process Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

As an admin, there is no breakdown of how much we have in each and every wallet we have.

would be good if the transactions can sync to Xero automatically

for the layout, the side menu is nice but it collapses on it own so would be good if it can let me fix it or collapse it

would be good if can be cheaper Review collected by and hosted on G2.com.

What problems is Spenmo solving and how is that benefiting you?

1. attractive exchange rate and lower transaction fees as compared with the traditional bank that I used.

2. Unlimited virtual cards for all of us with 1% cash back on card spending so I created 1 card for each project manager so that I can monitor their spending

3. Approval process are online so it is very convenient. save paper Review collected by and hosted on G2.com.

Hans C.

Small-Business (50 or fewer emp.)

8/31/2022

"Great improvement to the claims process in my company"

5/5

What do you like best about Spenmo?

Submitting company claims is very simple and takes just a short time to do. The app interface is user-friendly and easy to learn for everyone in the company. From the traditional method of submitting claims to using Spenmo, it has been a huge improvement. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The submission of a cash disbursement claim on the Spenmo app directly leads me to the camera to take photo of supporting document or upload image. It would be good if I can fill up the claims information first before taking the photo. Also, would be great if I can upload PDF file instead of photos only. Review collected by and hosted on G2.com.

Safira M.

Accounting

Small-Business (50 or fewer emp.)

1/31/2023

"i will recommend spenmo to my friend"

5/5

What do you like best about Spenmo?

spenmo really helped me and my company to transfer money easily, and very efficiently Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

So far my team and I haven't found any problems when using this spenmo software Review collected by and hosted on G2.com.

Hans W.

Senior Project Executive

Small-Business (50 or fewer emp.)

9/13/2022

"Love the app it has been really useful"

5/5

What do you like best about Spenmo?

The app has been really convenient and helpful to my claims when submitting these claims to my company's financial department. It has been really a life and time saver for me. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The main issue with this app is that there are different sections/options that needs to be selected properly before the claim is processed. There were several occasions that the claim got rejected and bounced back to us as the claim options were not selected correctly. It would have been good if the options were clearly stated in the cash reimbursement function so that these can be reduced. Review collected by and hosted on G2.com.

Sam C.

Chief Experience Officer

Mid-Market (51-1000 emp.)

8/8/2022

"An excellent platform to help me centralize, manage and visualize my company expenses"

4/5

What do you like best about Spenmo?

- Simple Intuitive Interface which allows me to onboard everyone quickly

- Mobile App is simple and stable to use

- Easy to manage manage my Corporate Cards across the whole company

- Integration to XERO

- Ability to reimburse Staff via the interface using Paynow (reduce the need to separately login to bank)

- Excellent support from the Core team and my Accounts Manager (Kudos to Calvin Ng) Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

There is little to dislike about the platform. Minor peeves

- Tedious to manage and transfer $$ to individual wallets (too granular)

- Reporting capabilities are limited

Hope they really improve the Offline Archiving of Data (for internal audit compliance)

- Export of Past Transactions for offline archiving is not complete (all the digital uploads of receipts/invoices cannot be exported. Only a URL is provided which requires manual clicks to download) Review collected by and hosted on G2.com.

What problems is Spenmo solving and how is that benefiting you?

- Corp Cards from banks are not versatile enough as I can't issue for different departments. With spenmo, I am able to issue virtual CC anytime and specific with usage rules + ability to consolidate purchase evidence for various transactions

- Tracking CC usage + capturing evidence of purchase is very manual before spenmo

- Staff reimbursements and claims are paperwork intensive and tedious. With spenmo, the mobile app allows easy capture + ability to review & reimburse via Paynow within same interface

- Paying of Overseas suppliers using Spenmo interface+rates is much better Review collected by and hosted on G2.com.

Tiara C.

Finance & Accounting Supervisor

Small-Business (50 or fewer emp.)

1/19/2023

"Easy to use"

4/5

What do you like best about Spenmo?

Bill payments because easy for us to make local and international transactions only in one application. In addition, we can monitor employee transactions, reimbursement, budgeting, etc. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

I hope with a starter plan, we can have more than 5 users Review collected by and hosted on G2.com.

Ming Hao T.

COO / Co-founder

Small-Business (50 or fewer emp.)

4/20/2022

"Spenmo is an integral part of our biz processes (esp in budget control and pay out to vendors)"

5/5

What do you like best about Spenmo?

Spenmo helped us in our budget control. In the past, every employee will just make purchases using their own card and claim at the end of the month. This resulted in uncontrolled spending and many times, we crossed our budget for claims. With Spenmo, i can top up a limited amount per month and limits the spending of each employee. For employees, it is also a "benefit" as they are given a company credit card. How many companies actually give that? Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The credit card top up option was pretty useful to help us stretch our cashflow further. That was very useful especially for us as a DTC startup. Review collected by and hosted on G2.com.

Bryan Z.

Founding Partner

Small-Business (50 or fewer emp.)

1/29/2023

"User-friendly payables solution for supplier payments and expense claim reimbursements!"

4.5/5

What do you like best about Spenmo?

Efficient payouts to vendors at low remittance fees and good foreign exchange rates. Ability to reimburse employee expense claims instantly. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

Been seeing a lot of innovation and constant improvements to Spenmo platform and they always take feedback seriously. Hence, not much to dislike about it Review collected by and hosted on G2.com.

Jun P.

Small-Business (50 or fewer emp.)

2/2/2023

"Conveniet and Very Reliable"

4/5

What do you like best about Spenmo?

Spenmo's virtual cards, accurate transaction history and Account Managers that are very consistent in helping clients. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

There's no restriction in overcharge of Facebook ads. Review collected by and hosted on G2.com.