How Open’s expense management eased managing our team expenses

Being an entrepreneur comes with its challenges!

Every startup or SME founder has a tough time creating a brand out of their dreams. And one of the biggest hassles that comes with making your business grow big is managing your company’s finances.

I am sure if you’re reading this you must have been taken down by millions of expense management software that are out there in the market. The ones that promise to make filing expenses & reimbursements hassle-free for both you & your teammates, but hardly deliver on those promises.

I’ve had my share of bad experiences with a couple of expense management software out there. And while there are a few good solutions like Happay, their expense cards are super expensive & so is their annual recurring cost. Also, Happay is built to majorly focus on the enterprise segment more than the startups.

That’s when I decided to research thoroughly to find a powerful expense management solution that is built specifically for startups & SMEs that puts a stop to all my nightmares.

And I was lucky enough to find Open — a neobank that comes integrated with expense management, efficient bulk payouts, automated accounting etc. It basically is a one stop solution for all your business finances worries. 🙌

Open literally simplifies managing team’s expenses

Once I started using Open, I genuinely stopped worrying about keeping track of where & how much my team mates are spending.

Their amazing Open expense cards act like prepaid debit card that I can easily handout to my teammates.

So to try them out, I ordered first 5 cards to handout to my admin, sales & marketing teams. (Fun fact: the first card is on them & other cards are just for a nominal fee of Rs. 199).

All I did next was to load them from my Open Account (this is the primary ICICI current account that I linked to Open during my Onboarding), set specific limits to each card & it’s done. It really puts me in control as even if I load some extra amount in the cards, I can set spend limits to each of these cards & control team expenses further.

Now whenever my teammates swipe their Open card, they get a WhatsApp notification. They can reply with a pic of their receipt & it’ll directly get uploaded on their Open dashboard. (No more cases of lost receipts!) Next, they can easily add their expenses to reports in minutes. I personally feel great investing in Open cards when I hear my teammates appreciate how much it has eased out their lives.

And they earned a brownie point from my employees because it lets them add their cash expenses easily too!

As a founder, I love how Open gives me an overall view of my team’s expenses in real-time & hence puts me in control & makes it easier for me to approve reimbursements in a click.

I can bet there isn’t an easier way to manage your team’s expenses. If you came across one, let me know in the comments!

Why I use Open to manage my end to end business finances

It’s only after I started using Open did I realise there’s so much more to it. It’s a neobanking platform in its true essence such that along with expense management it comes integrated with a whole lot of other features like automated accounting, bulk payouts, payment gateway, bookkeeping, invoicing and a lot more.

If I was to point out to a singular thing that hooked me to Open essentially is the comprehensiveness that it provides that it cuts off the need to switch between multiple platforms to manage various aspects of my business finances.

If you really want to focus on your business then using Open is surely going to save you a lot of time and effort & drive your business to the growth trajectory you’ve always wanted.

Also, I am really excited to try their Open Founders card — first ever credit card for startups! I have already registered myself on their waitlist. If you’re a startup or SME founder, you should definitely be on their waitlist too! 😊