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Spenmo Reviews & Product Details - Page 2

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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0 people requested security information

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.
VY
AVP Finance
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?

It allows us to track our business expenses across categories and employees. The automated syncing of transaction data to our accounting platform is a big plus. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

Spenmo has currently met most of our needs Review collected by and hosted on G2.com.

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

Business cards assigned to individuals and employees claims. Review collected by and hosted on G2.com.

Paolo Alejandro A.
PA
Omnichannel Developer
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?

It's easy to manage funds using spenmo's wallets and virtual cards Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

nothing i dislike about spenmo so far. But still waiting for local debit cards Review collected by and hosted on G2.com.

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

Having able to generate new virtual cards for our business Review collected by and hosted on G2.com.

Nicole T.
NT
Finance Admin
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?

We've seen Spenmo grow and constantly try to improve its platform. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

Fees are very startup-friendly; however, we are considering other providers with the new pricing. Review collected by and hosted on G2.com.

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

Accounting and cashback. It allows me to record and gain cashback as well. Review collected by and hosted on G2.com.

ST
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?

There is always someone available to address your questions. Be it the account manager or customer service team. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

That it is currently not yet available on Apple wallet. Review collected by and hosted on G2.com.

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

I dressing issues quickly helps. Review collected by and hosted on G2.com.

Jonathan Matthew J.
JJ
Finance Associate
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?

Probably, the reimbursement feature and bulk bill payment. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

For now, all's good, so we're thinking of extending our partnership with them. Review collected by and hosted on G2.com.

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

The paperless reimbursement process and easy sending of salaries to your employees. Review collected by and hosted on G2.com.

Raymond L.
RL
CFO
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?

We love the easy management of various types of company expenses, for direct expenses using debit MC cards and the bill payment system. Everything is visible and tracked in real-time. Fees are very reasonable, compared with another platform we previously used. Plus, there's the added bonus of cashback that gives my AP team pleasant surprises. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

As an approver in the system, it would greatly help if I can use the app to approve/release bill payment transactions, so I can do everything on the go.... or, did I miss something, and it can already be done? Review collected by and hosted on G2.com.

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

We don't specifically have any problems before using Spenmo. What Spenmo does is bring added efficiency to our AP and expenses reimbursement processes, while reducing transaction costs. We moved from another platform to Spenmo for our AP. Review collected by and hosted on G2.com.

Derl T.
DT
HR Manager
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?

Convenient, and easy to use, the contact person is reachable and very helpful Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

Bank issues (slow sending of payment), payment revert (no explanation) Review collected by and hosted on G2.com.

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

payroll issues and assistance to start-up companies like us Review collected by and hosted on G2.com.

Sarah N.
SN
Accounts 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?

Ease of use when making overseas payment transfers. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The occasional unsuccessful payment transfers. Review collected by and hosted on G2.com.

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

Higher foreign exchange rates in other payment methods, and using spenmo has allowed us to keep our overall costs lower. Review collected by and hosted on G2.com.

Sying T.
ST
Finance
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?

Autosyn of the transaction to the accounting system. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The dashboard display and limitations of modification to fits the company request Review collected by and hosted on G2.com.

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

The approval matrix updated, allowing us to set multiple-layer approval. Review collected by and hosted on G2.com.

JZ
Project Manager
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
(Original )Information
What do you like best about Spenmo?

Easily accessible and quite intuitive to use. I like the orange and white colour scheme because it feels very energizing and upbeat and young and it makes me happy to use it. Review collected by and hosted on G2.com.

What do you dislike about Spenmo?

The different wallets can be a bit confusing to switch between at times. I don't like having to download an entire app that I only use a few time in a months especially when there is limited phone storage space. Review collected by and hosted on G2.com.

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

Troublesome claims submissions process. Spenmo makes the process simpler and immediately accessible from anywhere and anytime. I can now immediately manage my claims after every spend. Review collected by and hosted on G2.com.