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Spenmo Reviews & Product Details

Spenmo Overview

What is Spenmo?

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.

Spenmo Details
Discussions
Spenmo Community
Languages Supported
English
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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."

How do you position yourself against your competitors?

✅ NO hidden fees, or sign up fees
✅ Cheapest international transfers with 0% FX markup
✅ Real-time notifications, visibility and tracking of business spends
✅ Automated invoice payments
✅ Invoice approval workflows
✅ Instant access to unlimited virtual and physical corporate cards
✅ Seamless accounting automation and reconciliation
✅ Expense management software


Seller Details
Seller
Spenmo
Year Founded
2019
HQ Location
Singapore
LinkedIn® Page
www.linkedin.com
97 employees on LinkedIn®

Yun Fang T.
YT
Overview Provided by:

Recent Spenmo Reviews

Melinda S.
MS
Melinda S.Small-Business (50 or fewer emp.)
3.5 out of 5
"Not much use now"
easier to make payment to individual and paynow
ST
Sabrina T.Small-Business (50 or fewer emp.)
5.0 out of 5
"User friendly"
There is always someone available to address your questions. Be it the account manager or customer service team.
Paolo Alejandro A.
PA
Paolo Alejandro A.Small-Business (50 or fewer emp.)
5.0 out of 5
"SPENMO is the Best App for our Payment needs"
It's easy to manage funds using spenmo's wallets and virtual cards
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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
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60 Spenmo Reviews

4.5 out of 5
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60 Spenmo Reviews
4.5 out of 5
60 Spenmo Reviews
4.5 out of 5

Overall Review Sentiment for SpenmoQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
Melinda S.
MS
director
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
(Original )Information
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.

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

Credit card payment need to be improved Review collected by and hosted on G2.com.

Pheng Soon T.
PT
Consultant
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

HC
P
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

Claims process is traceable by me instead of having to check with the finance department of my company. It has reduced the time taken to check back and forth and I can now easily see the status of my claims submissions. Review collected by and hosted on G2.com.

Safira M.
SM
Accounting
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

spenmo helps me and my company in transferring money to vendors or others very efficiently and very easily, spenmo is also used by the team in my office to pay for some of our subscription software Review collected by and hosted on G2.com.

HW
Senior Project Executive
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

Spenmo resolves the issue of time to get back claims from the company. From the traditional reimbursement from finance via emails and Excel, this method on Spenmo allows me to visually track the past claims. Review collected by and hosted on G2.com.

Sam C.
SC
Chief Experience Officer
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.
TC
Finance & Accounting Supervisor
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

Before using Spenmo we did international transactions with third parties and it was too complicated but with Spenmo we do it more simple and easy Review collected by and hosted on G2.com.

Ming Hao T.
MT
COO / Co-founder
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

Budget control and payment to partners local and overseas. The overseas payout options at just $1 and with exchange rate near Google best rate is super useful. Review collected by and hosted on G2.com.

Bryan Z.
BZ
Founding Partner
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

High foreign remittance fees. Ability to pay to most countries Review collected by and hosted on G2.com.

JP
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
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.

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

Our Payment method for Facebook and other Advertising platforms, its helps us create more campaigns and scale faster Review collected by and hosted on G2.com.