Lola.com Launches Spend and Budget Management Tool
Lola Spend provides companywide solution for managing expenses >>
by: Harvey Chipkin
Lola.com, a business travel management platform, has expanded into business spend and budget management with a new product called Lola Spend. The offering provides a companywide solution for managing company expenses against budget in real time, freeing finance teams from repetitive administrative tasks, eliminating expense reports and getting everyone on the same page. Paul English, CTO, said that while the drop in corporate travel has impacted Lola.com’s business, “it also created an opportunity to expand into solving a problem faced by every business.” Lola Spend builds off the existing Lola Travel product and empowers finance teams and budget owners to gain real-time visibility into spend, to prevent teams from spending over budget and to eliminate expense reports. Mike Volpe, CEO, said, “The canyon between the budget set by finance and a department’s expenses against that budget is filled with blind spots and manual processes.” Lola Spend is already in use by beta customers and is now publicly available to all companies, currently for free.
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