Have you ever stood at an ATM in the dark, being pelted by rain, only to see the dreaded words: Insufficient funds? It’s not fun, even on a sunny day. The right company cards can help ensure that your employees steer clear of those dreaded words. And that they always have access to the business funds they need to do their jobs. Even better, with the right company cards and supporting software, you can set spend controls and get complete visibility over company spend.
It's surprising, but many organizations can't control their business spending. These companies fully understand how vital spend management is. But, because they don't have a good view of their spending, they simply can't monitor it. Often, large companies find themselves dealing with legacy tools and processes that don't give them complete visibility on spend. While smaller or growing companies pick up multiple tools to help them and end up with a disconnected view.
Getting clear spend visibility starts with the way your business spends. If your company uses cash, you can't automate expenses, and you can't keep track of the spend very easily. Plus, each month ends with chasing receipts, trying to match them up with spend, and drowning in paper. Corporate cards can change all of this. Whether physical, virtual or connected to your employees’ digital wallet. Company cards and supporting software can give your business access to real-time spend data and better control via built-in spend compliance.
Company cards make sense. But, there are different options out there, so which card will work best for your company? Here's a brief rundown of each type of card.
For a few good reasons, debit cards are often the number one choice for company cards. Here are just a handful of the pros and cons:
The corporate credit card allows employees to make business payments when they need to use a credit line. Credit cards enable your company to use money belonging to the bank and pay it back later with a bit of interest. Using a credit card means the following:
Prepaid cards work kind of like electronic wallets. Companies can send money to them, and employees can use them as they need.
One type of company card will fit your business better than another, depending on the size and stage of your organization. But success, just like in your PC theme park, is going to come down to understanding your spend. Learn how we helped German automotive chain ATU take control of their spending, including getting full transparency and a super positive employee buy-in.
Whether you have tens, hundreds, or thousands of employees, we’re making your business spend work for you, giving you control over spending at scale with a single solution. Say goodbye to tedious finance tasks, schedule a demo with us today.