Bento For Business

3 Critical Reasons Your Company Needs To Use Spend Management Software


What You'll Learn About Spend Management Software

Running a business has much to do with the entrepreneurial spirit, innovative ideas, and following one’s dreams to bring a vision to life.

You put in the market research and find a product or service that a target audience can’t resist. You tap into something that makes your organization unique. You commit to giving your customers everything they want and need.

It’s incredible to see your brand come to life and carve a niche in sectors like construction, non-profits, startups & tech, professional services, etc.

That’s the beauty of an excellent idea and a can-do attitude. It’s like a magic elixir that fuels your fire.

All the same, this sense of magic and imagination faces many challenges. Inefficient and costly company spending is just one of those hurdles. What to look for when deciding on a great business management software.  The Bento software has tons of great features that will simplify your organization. The Bento Spend management software will bring all of your spend management strategies to life. 

SpendManagement BestEstimatedROI Small Business Roi
SpendManagement HighestUserAdoption Small Business Adoption
ExpenseManagement HighPerformer Mid Market HighPerformer
Elizabeth S
Elizabeth S
Executive Director Certified Prevention Specialist II
Read More
Bento gives our small nonprofit the flexibility of credit cards for employees without having to open a credit line. I can control spending amounts and expenditures purchased in the time it takes to log in to the app on my cell phone. I was at a conference when I need to have something printed in the business center. An employee when to the business center and had to purchase the copies. In the time it took them to cross the event venue, I was able to turn on their card, give specific permission for the expense all before she completed the printing job and had to pay. Bento also provides better fraud protection than our local bank provides.
Erica P
Erica P
Read More
"I love that bento provides a free plan allowing small businesses a way to track their expenses without paying a monthly fee. I love how much time I'm saving by not having to look through employees crumpled up receipts."
Laura W
Laura W
Office Manager
Read More
I like that the card auto reloads. It's easy to manage online. I feel comfortable leaving this in our company trucks since I can "turn it off" online. Another feature that I appreciate is that the transactions show up immediately after purchase. I love that the service is free with up to 2 cards. The card is also a versatile card to give to a new employee. This card is also flexible because I can give it to multiple employees depending on who is working. The card is not tied to one person. Another nice feature is being able to log on at any time and add funds to the card. If I know that an employee will be making a large purchase, I can reload for a more considerable amount.
Cedarhurst M
Cedarhurst M
Community Manager
Read More
The ability to scan my receipts to the site directly from my phone is a very helpful feature.
Gaby S
Gaby S
Owner and Principal
Read More
The ease of knowing the employees have the funding for business expenses and I do not have to worry about expense reports... Easy does it syncing to QBO!

Failing To Rein In Your Spend Management Prevents Your Business From Flourishing

There’s always something in the way of our dreams—an obstacle that can halt what seems like the most foolproof example of genius. An idea that could change the game or disrupt an industry can evaporate in moments at the hands of this specific roadblock.

Namely, we’re talking about checks and balances. Or, more specifically, spend management software.

Spend management is the great equalizer, and when it’s a struggle for your business, it’s the wrench in the gears that brings dreams crashing down to earth. Suddenly, your ability to make a splash on the market remains a thought in your head or an idea you wrote on paper–nothing more.

Conversely, you could have the financial wherewithal to make an initial splash and set the wheels in motion. Many of our clients do just that, succeeding over the years but realizing a ceiling rests atop their success. They don’t have a lid on the money that’s going out.

For instance, lacking visibility into your company’s spending can prevent you from optimizing your supply chain–because you can’t see where to make the necessary adjustments.

Provided your spend management isn’t under control, you might be dealing with a runaway financial train, leading to potentially catastrophic results. At the very least, you’d have a lot of cleaning up and would need to dedicate a vast chunk of your time to damage control. 

See below why our clients LOVE our easy-to-use customizable dashboard.

Previous slide
Next slide

Spend Management Has Many Moving Parts

Any weaknesses in controlling company spending cut directly into your revenue. 

Studies showed companies losing 2% yearly due to this weakness. When you’re pulling in eight, nine, or ten figures in revenue per year, that’s a lot of money to leave on the table, and it only grows more massive over the years.

A good analogy is the subscription services commonly used online. We all sign up for them but often don’t use them and forget to cancel. So, the cost keeps piling up. It’s like death from a million paper cuts. One subscription might not cost you much, but you’re suddenly cutting into your long-term wealth when you have five or six services you aren’t using. Moreover, you’re getting nothing in return.

Spend management is about plugging those holes and ensuring the money you’re spending is dedicated toward yielding returns and isn’t a net loss.

Say Goodbye To Paper-Based Spend Management

Any weakness with spending will cost your company. Those weaknesses are often brought upon by relying on paper-based systems. Of course, decades ago, this option was all your company had. 

While paper-based systems were the best and only choice in eras past, the pitfalls were always there, such as:

  • Human data entry errors
  • Increased fraud potential because bad actors can falsify expense reports 
  • Cutting into already busy schedules and distracting from important work

Fortunately, we’re in 2022, and you no longer have to rely on the clunky spend management methods of yesteryear. 

Ensuring your company’s spending remains efficient and return-forward relies that you leap into the future and embrace the top spend management software on the market. Bento.


Embracing Spend Management Software

Before getting into the specifics of our software, it’s best to grasp the definition of spend management. After all, we’ve discussed the term but haven’t said what it is exactly.

Spend management is also known as spend control, and it entails companies tracking and managing outgoing organizational funds to determine the following:

  • What money is going out
  • Where the money is going
  • Why the purchase helps the company and its employees

A solid handle on spending ensures that only approved purchases get made with company money and that you’re not stretching or exceeding budgets. 

The problem with spend management beforehand was its time-consuming nature. Getting derailed and caught up in tracking every outgoing company dollar takes everyone’s eyes off the prize. 

Still, spend management is a must, like scrubbing the floors or doing laundry. It’s not pretty or flashy, but it’s integral to maintaining financial hygiene. 

So, how do you remain focused on your crucial business functions while keeping company spending under control? Simple: by using Bento’s spend management software. 

What Is Bento For Business?

Bento’s number-one benefit to forward-thinking companies is that it stays out of the way. It allows you to focus on and run your business while working its magic in the background.

Merely set a few controls on your Bento Cards, and the Bento Dashboard offers you visibility of your outgoing money in real-time. You can actively see the money saved using our state-of-the-art spend management software. 

The controls allow you to halt unintended or unauthorized spending at the click of a few buttons instead of following an endless paper trail, saving time, money, and most importantly, effort. 

Insights derived from the data provided by the Bento spend management software aid in setting budgets and planning campaigns or initiatives. You can shore up weaknesses and hold onto enough money to take more profit-forward risks.

Furthermore, Bento syncs with accounting systems like QuickBooks, allowing you to consolidate the many components of spend management. You won’t get pulled in every direction imaginable keeping track of company spending–everything you need to know will exist in one place.

Below, we’ll delve into the three main reasons you need to start using Bento’s spend management software.

1. Bento Spend Management Software Saves Money

There are various ways for your company to cut down on spending to save money. Successfully implementing these methods offers you found money that bolsters your bottom line and gives you that extra edge over your competitors. 

You could use that found money to hire that next difference-making employee, it could fund your next game-changing campaign, or you can save it for a rainy day. In other words, extra savings buys you freedom and opportunity.

Bento empowers your company with financial freedom by tracking and preventing reckless spending through these features:

  • Placing restrictions on merchant categories
  • Limiting global transactions
  • Implementing daily spend limits
  • Turning lost or misplaced cards on and off

The typical Bento customer takes a 15%-plus chunk out of spending by transitioning from old-school business cards and cash to our corporate/virtual cards and accounting platform. 

2. Bento Spend Management Software Saves Time

As the old saying goes: time is money. We only have so much of it, and when it gets wasted on laborious tasks that don’t move things forward, it can halt a business’s progress. To that point, wasting too much time at work amounts to approximately $5,720 per employee yearly.

Keeping the above sentiments in mind, how do you define wasted time at work? 

We’re assuming that your team puts their best foot forward, as do you. So, the time wasted doesn’t stem from work ethic issues. Instead, time gets wasted because of inefficient processes that your company could easily streamline.

Bento eliminates those time-based inefficiencies and vastly limits the impact of time-wasting at work by taking elements of spend management and streamlining them through:

  • Eliminating the need for workflow approvals
  • Customizing controls based on the specifications of each card
  • Speeding up expense report generation and tracking
  • Real-time tracking of transactions

You and your team have busy enough schedules. Your collective work is crucial and requires all your focus and brainpower to keep your company thriving. 

Using Bento to eliminate the above processes empowers business owners and their employers to keep their eyes on the prize, directing efforts towards what’s most vital to the organization’s lasting success. 

3. Bento Spend Management Software Saves Effort

spend management software img

You and your employees are only human. 

Throwing too many spend management tasks on the table risks spreading you and your team’s efforts too thin, entailing many pitfalls, such as:

  • Damaged mental and physical health due to burnout
  • Reduced creativity
  • A lack of efficiency

That isn’t to say you shouldn’t promote hard work in the workplace. However, more important than working hard is working smart. Inefficient spend management practices like using paper-based approaches and traditional business cards are the opposite of working smart in 2022.

Conversely, Bento is all about working smart. Speaking to that notion is our AI-power receipt capture and our reporting tools that bolster efficiency by:

  • Storing receipts and expense reports in one place
  • Exporting data into accounting platforms (e.g., QuickBooks)
  • Automating the expense reporting process

Here’s some additional food for thought: even a work environment with top-tier culture can place stringent demands on team members.

The realities of today’s business landscape put pressure on your people–and they’re happy to step up when necessary. However, bogging yourself and employees down further with administrative work could be the straw that breaks the camel’s back and halt productivity. 

Conversely, Bento removes all of that work and ensures your team can direct their efforts to more productive, momentum-building tasks. 

Bonus Content: Three MORE Reasons To Use Spend Management Software.


Do you still want to learn more about using business spending management software before investing in it?

We understand. Every tech investment your business makes requires much rumination, and we’d never urge you to rush your decision.

Saving time, money, and effort are all significant motivators to invest in spend management software. That’s why they encapsulate “part one” of our three reasons to use spend management software.

Still, a spend management software solution like Bento For Business offers multi-layered benefits to your spending process. Thus, the three reasons to use the right spend management software can be examined through multiple lenses.

The lens we initially examined (i.e., saving you time, money, and effort) was the proverbial meat and potatoes. All points explained the concrete benefits of investing in spend management software.

This section will be different–yet equal in value. We will take a trip down a road paved with the philosophical side of your business spend management process and required solutions.

Where will this road take us? On a route filled with unique insights.

The twists and turns will make you contemplate the purpose of prioritizing your spend management software investment. It will help you understand the value of every dollar you spend and ask yourself crucial questions about your allocation of resources.

So, keep reading to learn more about what business spend management solutions can do for your company.


Why Should You Assess Effective Spend Management Software From All Angles?

You’ve worked yourself to the bone to take your company to the next level. You’ve put your nose to the grindstone and developed top-tier products or services that your clients love. Every bit of revenue you’ve earned is precious because of the sweat (metaphorical and literal) you’ve poured into every sale.

The pride you take in your company means you should protect it fiercely. Part of protecting your business is scrutinizing all potential investments. 

So, when we tell you that effectively managing spend with state-of-the-art tech like Bento will save you time, effort, and money, we’ll likely get your attention. Still, a gulf remains between wanting to hear us out and signing on the dotted line to invest in our software.

As a company that helps businesses with managing spend, Bento prefers for our customers to make the most informed investment decision to avoid unnecessary spending.

On the above note–and to offer complete transparency–here’s a list of hurdles preventing you from benefiting from our software and sticking to more manual processes.

You Won’t Use The Software.

All failed tech investments start with the best of intentions. Sadly, the tales surrounding these business-spending missteps are all too familiar. A business pours a wealth of company funds into an exciting innovation to transform its processes. Then, nobody’s using it three months after installation.

Another unideal scenario is a company insisting on their employees using tech they’ve yet to successfully implement. From there, it only leads to headaches, miscommunications, and stifled productivity because it’s improperly used.

These hypotheticals aren’t something we’re pulling out of thin air. TechRepublic reports that only 10% of companies that have invested in new tech have trained their team to use such tools.

As discussed above, a lack of proper training to use these tools often hinders tech investments.

Before you invest company funds in a tool like Bento–ask yourself if you have the resources to train your team to use our spend management software.

We’ll point out that Bento is almost a failsafe with implementation issues. The software is intuitive and user-friendly. It doesn’t take long to learn the nuances and maximize the value of each tool. 

Even with our seamless, simple spend management solutions, the implementation process must be prioritized to ensure success. Our tech must be ingrained into your systems to ensure all relevant parties use it.

You View Tech As A Separate (Or External) Tool.

We might refer to Bento as a spend management tool. The term “tool” might undersell its overall value and importance for companies aiming to drive business growth.

A more accurate way to view spend management software is as budgetary bedrock. It’s the foundation on which cost-efficient business spending strategies are built. 

Spend management software must be central to your business and budgeting processes. As much as your employees know about your products or services, they should grasp how your spend management software solution impacts them.

When a software solution like Bento is simply on the periphery, its usage becomes ad hoc. It fails to permeate your culture, nor is it seamlessly melding with your operations and overall business model. 

One advantage of Bento is when you begin using it, the benefits are immediately evident. Sure, the first few weeks of usage will only scratch the surface of what our spend management software solution can do for you. All the same, you’ll promptly save enough time, money, and effort to realize that Bento must be an integral part of your budgetary and financial strategy to bolster your company’s performance.

Bento Doesn’t Make Sense For Your Business…Right Now

We do not want our partners spending on software subscriptions that don’t make sense to them.

Solopreneurs and small-scale operations with straightforward spend management requirements don’t necessarily require Bento. It’d be like hiring a CPA for a job more suited to a bookkeeper.

Bare-bones operations often benefit from equally bare-boned solutions. Spreadsheets or invoicing tools like Wave are usually enough.

There’s another side to this coin, though. 

Say your operation is relatively small-scale, but you plan to expand and drive business growth. Soon enough, you’ll employ a bigger team needing to spend company funds to make things happen.

Instead of waiting for your team to assemble–then implementing tech like Bento–consider doing things the other way around. 

Being proactive with your investment will help prevent the spending inefficiencies that will hamper your business if you wait.

Expanding your company presents many challenges. You’ll face new organizational aspects that’ll pull you in every direction at once. Thus, you could’ve already lost thousands of dollars when you wait to implement your spend management solution. In fact, all those company funds could’ve evaporated before you’d had a chance to breathe and gather your bearings.

Considering that 82% of failed businesses list cash flow problems as a primary factor in their demise, can you afford to risk these losses?

From there, you must still make the tech investment, learn how to use the tools and train your team. 

By proactively investing in spend management software solutions, you’ll hit the ground running as your company expands. Not a single dollar will be misspent on business expenses. 

Specifically, headaches like petty cash management, employee reimbursements, cutting checks, and gathering receipts will be mitigated. Most importantly, you’ll be better positioned to drive business growth because you won’t waste time, money, and effort on these tasks.


The Importance Of Buy-In.


We have one more discussion point before delving into our second “top three reasons” list of why you need to use spend management software solutions. 

Namely, we must explore the importance of employee buy-in with spend management software solutions (and tech, in general).

While your launch or rollout of Bento (or another tech tool) might be successful, usage and interest can wane. 

Some companies have leadership try to enforce tech solutions on their teams. We appreciate the desire to be insistent about your team using a software solution–you paid a lot of money for a tool and want it to be used. Unfortunately, trying to shoehorn a solution into your staff’s day-to-day comings and goings could hurt their performance. 

Buy-in goes beyond telling teams they have to use a tool. View it as more of a marketing campaign. Your team is your target audience/customer.

Get your team invested in Bento–or other solutions–by illustrating the benefits (e.g., saving time, money, and effort) and hammering them home. Show enthusiasm for the rollout. Present use cases and data backing the implementation of this new tech.

Why is buy-in so crucial with tech?

Realistically, employee buy-in is essential for all aspects of your company. You want your team to be engaged in all tasks and objectives to guarantee they’re putting their best foot forward.

Still, tech buy-in has its own distinctive value that goes beyond other aspects of your company. 

For one, buy-in helps overcome technophobia–a pervasive problem throughout many businesses. To this point, 33% of surveyed companies were still using Windows XP in 2019–it would’ve been around 18 years old at the time. 

How come businesses struggle with technophobia and limited buy-in? We commonly hear these five reasons:

  1. “Our tech might be limited–but it’s easier to stick with what we know.”
  2. “The market is oversaturated with options. It’s impossible to find the best solution for my business.”
  3. “I can’t afford the risk of transforming a business process–it could send the company into a tailspin.”
  4. “The team has already spent hours learning the old tech, and we’ve poured company funds into it.”
  5. “My people don’t have time to implement and learn new tech.”

Much of the above lines of logic come down to comfort zones. People like sticking to what they know, even if it’s inefficient.

Focusing on buy-in will help alleviate these concerns and escape comfort zones. 

Buy-in starts from the top. All business leaders need to see the value of a spend management solution for employees to feel the same way. Your enthusiasm and belief in the new software solution will be infectious. So–be loud and proud about rolling out Bento and other tech tools. 

How To Ensure The Utmost Employee Buy-In For A Spend Management Solution.

Below is a list of strategies to ensure your team buys into your spend management software solution to improve your company’s performance.

Communicate Why Your Company Requires A Spend Management Solution.

Your employees don’t ask for much. They merely like to be considered when implementing new tech. A simple explanation of why your business requires a new tech solution will go far in encouraging buy-in. This way, your team will have clarity about why they need to introduce a new process or procedure into their busy schedule. 

With business spend management, you can outline how a software solution like Bento offsets human error, spending inefficiencies, and time/effort being wasted on expense report tracking and approval workflows. Align these benefits with other existing goals surrounding your products, services, and long-term mission. This will help your employees grasp why implementing spend management software is crucial before you roll it out instead of after.

Make Employees Part Of The Spend Management Solution Rollout Process.

A core philosophy in successful employee buy-in and engagement is involving your team in the decision and implementation processes. 

Thrusting a spend management solution at team members after they’ve been locked in will hamper buy-in. Your people need to use these tools, so they should be part of deciding which ones will be used.

Involve your employees in the tech investment process the moment you realize a need for improved spend management. They’ll provide insights into what your company needs versus flashy tools that are only appealing on the surface. Your team will also clarify what tech won’t work for them, preventing the potential for pushback during and after the implementation process.

We’re confident that your people will quickly realize the value of Bento for spend management. Since you included them in the decision process, they’ll be more invested in successful implementation and harnessing the long-term benefits of our tool.

Explain The Benefits Of Spend Management Solutions Based On Your Team’s Needs.

Saving company funds is a top-tier benefit. Nonetheless, is it a benefit that would appeal to your team? 

Undoubtedly, saving money is vital to your company’s long-term health and, in turn, your staff’s employment. Still, they’ll find more value in how Bento can help them do their job better.

Focusing on how Bento saves time and effort is like rocket fuel for employee buy-in. Your team members will get to avoid various manual processes that hinder productivity and collaboration. They’ll also have peace of mind regarding issues like lost credit cards or exceeding spending limits. 

Getting your team pumped up for how Bento will improve their work processes will better ensure their buy-in.

Prioritize User Friendliness When Choosing Spend Management Software.

We’ll double back to technophobia for a moment. 

People often fear new technology because learning to use it is far too complex. Your people have challenging enough jobs without having to master a complicated new software solution that impedes their productivity.

A software solution your team can implement with minimal disruptions will be an easier sell. Here’s where Bento shines. Our entire purpose is to make spend management easier. Thus, implementing our tech is straightforward enough for even the most technophobic employees.

For instance, say one of your employee’s Bento virtual or corporate cards is stolen. Turning them off requires only one click. Their manager or your financial team won’t need to call a credit card company and wait on hold as a thief racks up your company bill.  

Train Your People How To Use Your Spend Management Software.

Bento is easy to use–that’s our promise.

Regardless, there’s no accounting for levels of technophobia. 

For every tech-savvy, fully modernized team member you have, there could be someone who struggles with the simplest tech concepts. That isn’t to say they’re unqualified for their job–they might grasp enough tech to do the bulk of their work. They might just need some extra help when adapting to new software solutions.

Take nothing for granted when implementing and rolling out Bento. Train your team to use the tool based on what they’ll need to use it for. 

What will your employees need to learn with Bento?

Non-finance employees must grasp how to use their corporate/virtual card and upload the receipt.

Accounting/Controllers will be far more involved in controlling budgets and spending and will need to get more immersed in the tech. Budget admins, CFOs, and CEOs will also need more extensive training to get comfortable using Bento.

However, even team members relying heavily on Bento won’t find the learning process too challenging. We’ve designed a product with intuitive features that don’t take much trial and error to figure out.


The Heart And Soul Of Spend Management Software.


This section will fully delve into our second set of three reasons to invest and use spend management software.

     1. Managing Your Spending Is What Keeps The Lights On.

Allow us to start our list by referencing the show Mad Men. At one point, the central ad agency on the show, SCDP, was on its last legs financially.

SCDP was a great ad agency–but they didn’t have enough money coming in compared to what was going out.

If you watch the show, you’ll know that business spending drives revenues for SCDP. Accounts people are doling out company funds to impress clients through fancy dinners, gifts, parties, etc. They’re also spending the majority of their budget on making ads.

So–how did SCDP keep the lights on?

Enter Lane Pryce, the “P” in SCDP.

Lane had no expertise in advertising. He wasn’t a creative mind, nor was he sales-driven.

Instead, Lane was a financial officer. He assessed finances from every angle, from the pens used to the paper wasted in the office. He left no stone unturned in scrimping and saving, helping the ad agency through its most tumultuous period.

The moral of this story? 

SCDP’s main selling point was making exceptional ads–but that alone couldn’t keep them in business. This fast-moving business–backed by very wealthy owners–only survived through its financial officer’s rigorous approaches.

So, yes, your products and services are the lifeblood of your business. They’ll be what attracts customers. They are the glitz and the glamor that garner attention.

However, spend management is your bread and butter–the aspect that will allow you to keep providing those products and services.

These two components–spend management and products/services–don’t exist in a vacuum. Part of spend management is ensuring you spend in a manner that supports the continued production of high-level products and services.

For instance, satisfying a client might require a few extra hundred (or thousands) of business dollars spent on providing them with optimal services. Let’s say you took them out for an extravagant dinner after they signed on for a subscription upgrade.

A solution like Bento helps you track that spending to ensure it doesn’t get out of hand and remains strategic with returns in mind.

Spend management also helps ensure you’re not wasting time and money in a manner that reduces the cash flow needed for more high-priority expenditures. This way, no business dollar is wasted, even when you do need to take a risk on an investment.

    2. Spend Money To Make (And Save) Money.

It might be a cliche to say it, but there’s no way around it: you’ve got to spend money to make money.

Even winning the lottery comes with the upfront cost of the winning ticket. 

Underspending flies in the face of progress because you get what you pay for. Underpaying employees, for instance, means you won’t attract the top people. Also, investing in cheap materials means you won’t make high-quality products, which could hurt your reputation in customers’ eyes.

Specific to our product, underspending on spend management software solutions hampers team efficiency and productivity. Too many companies rely on outdated tools like spreadsheets to manage business expenses. These organizations aren’t small-scale, either. Yet, the underlying technophobia pervading the business landscape causes organizations to balk at many tech investments. There’s an (incorrect) idea that software solutions are all bluster and have no substance.

We empathize with the balancing act you’re facing in spending wisely. After all, one of the driving forces behind Bento is saving you money.

Yet, our products wouldn’t exist if businesses didn’t need to spend. Your company can’t grow and obtain a competitive edge without taking strategic investment risks. More to the point, underspending means–at best–your company will spin its wheels.

The answer lies in striking the ideal balance with your investments. It’s strategically sound to spend on business opportunities that generate returns while avoiding unnecessary expenditures that hamper your cash flow. Investing in the Bento for Business spend management software accomplishes both of these feats.

Bento is a proven money-saving entity. Investing in this software will shore up inefficiencies that cost your company thousands of dollars annually. This is found money you can count on to bolster your bottom line year in, year out. 

What’s more?

With those added savings comes the freedom to invest in more business opportunities. You’ll do away with the financial handcuffs that cause detrimental risk averseness. You’ll have heightened confidence in your spending decisions because Bento enables businesses to plan budgets and forecast spend. Every dollar you spend will be backed by the numbers–that are readily available because of our solution.

    3. Trusting Your Financial Reporting.

You can’t rely on your financial reporting when you don’t use business spend management software and stick with dated processes. 


You don’t have access to real-time expense tracking. Effective spend management isn’t possible when accurate, updated data isn’t readily available. 

Each client interaction, website visit, product/service purchase, vendor transaction, etc., gives your company new data. These scenarios are happening continually, and the information they provide can better formulate your business strategies.

Lacking a real-time data source means your data won’t be updated or accurate. Yet, nearly 60% of companies reach decisions based on old, unreliable data. 

Moreover, according to IBM, poor-quality data costs businesses in the US $3.1 Trillion annually.

Can your business afford those losses? Doesn’t your financial team deserve updated data that gives them the complete picture of your business spending? 

The possibilities are endless when your financial team can leverage real-time data. You’re supercharging their capabilities because they can respond immediately to whatever story the data tells.

Say the data tells a more concerning story–perhaps, there’s a payment discrepancy with vendors. In this instance, your financial people won’t be caught off guard if they have the Bento software solution. They won’t formulate plans based on receiving those payments only to realize no payments were made. Instead, they’ll flag issues the moment they arise and respond accordingly.   

Updated data is a bearer of good news, primarily. Real-time finance reporting helps your financial team pick up on trends as they develop. As such, you can respond to comings and goings in your sector with agility and spryness. You won’t have to wait for industry heavyweights to set the tone–you’ll be the one whose business is ahead of the game. 

Additionally, more accurate expense reporting enhances your appeal to potential business partners, investors, suppliers, and clients. You heighten your reputation because of the transparency you provide. 

You can offer your partners updated, accurate information on your company’s financials (including real-time expenditure data) to aid in their decision about your business. They can formulate their own opinions about your business’s viability and performance.

One example is how a supplier will ask for financial reports while they decide whether to work with your company. They may want to see your sales trajectories. Or, they might ask for expense reporting to see how much money your company has coming in and going out. 

Accessing real-time data for these parties will do wonders for how your company is perceived. Recipients of this data will appreciate your professionalism and that you’re on top of your finances.


Stop Limiting Your Company With Dated Processes

You’ve worked so hard to set your company apart from its competitors and establish an ideal place to work. So, when you hamper your growth and profitability with outdated processes like paper-based spend management, it flies in the face of your tireless effort.

Business owners and critical decision-makers owe themselves and their teams to say goodbye to inefficiencies and embrace ways to improve processes while saving money.

Bento’s spend management software gives our clients the keys to optimized efficiency. Most importantly, beyond all the time and effort saved, we’ve also saved our customers $ 85,568, 454+.

Bento Helps Your Vision Come To Life

The little nuts and bolts bring the biggest entrepreneurial dreams to life.

Your company can’t grow as it should if you don’t look at every angle to save money and plan your spending accordingly. With Bento’s real-time visibility and effortless spending controls, you’ll hold onto the funds you need and know precisely where you financially stand at all times.

This way, you can confidently keep charging forward and attacking growth opportunities with gusto. 

Other Helpful Articles