What would it look like if you could manage your team budgets in real-time? Some companies try to achieve this by sharing a company card, but that comes with its drawbacks. We created team cards - the easiest way to gain full transparency and control over your team budgets.
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Or maybe you need to make a forecast for next month’s marketing expenditure. In that scenario, having a quick snapshot of your current marketing spend is a must. The problem is that at the end of the month, most companies have no clue how much they’ve actually spent.
Still, unexpected expenses can arise. In those instances, companies need a way to check their planned versus actual spending in real-time and increase the budget, if necessary.
The financial manager would hand out a card for 'marketing' spent and another for ‘hardware purchases’. While this might remove the need for calculations, it certainly adds several complications to the equation.
Since there is only one card, employees cannot always have access to it, which adds unnecessary steps to any payment process. Additionally, finance teams cannot be sure how much from that budget is being spent, nor by whom. At the same time, managers don’t know which employee to chase for invoices for a given transaction.
That made us think of a more convenient and secure way to manage your team budgets.
Unlike sharing a card, you can connect multiple cards to a single budget. Each cardholder has easy access to their linked card in the mobile app, making it possible to spend when needed.
As a result, the finance team knows by whom and how much is being spent from the total budget and can easily connect each transaction with the respective linked card and responsible employee.
With team cards, financial managers have real-time transparency and control over their team budgets and subscriptions without the downsides of sharing an actual card. We believe this is the way modern companies should manage their spending.
Your first team card is just a few clicks away.
If you are an existing customer, you can link your current cards to a new team card. If you just started using Payhawk, you can issue new cards and link them to your team card.
You can read more about Team Cards in our help center. If you have any questions on how to set up your team cards, don’t hesitate to contact us directly.
Take financial control and manage your business debit and credit cards and spend easily, all from the same account. That's the power of all-in-one finance.
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