Blogs and best practices from the world of Fintech
The dream of paperless bookkeeping was born with the market entry of the first computer terminals with video displays. In the 1970s the head of Xerox’s Palo Alto Research Center was imaging a feature without paper. Even back then, people could see the possible process speed increase and simplification for all stakeholders.
Today, nearly 50 years later, we can pay with our mobile phones and watches. However, for bookkeeping purposes, we have to keep every receipt and invoice in paper form. We have to stack them in folders and store them in file cabinets for 10 years.
But the tides are changing.
When it comes to advertising spend, the most important thing is monitoring your results objectively. There are plenty of products or services that provide a ton of metrics, but finetuning them is a complicated process. Thankfully, the very essence of these metrics lays in the amount of money you put in and the exposure, leads, or converted customers you get. If you have a way to track that easily, you will have a decent grasp of your advertising performance. In this article, we will share the perspective of two of our clients – an advertising agency and a public speaker who relies heavily on advertising.
Every now and then, a personal expense finds itself on a business credit card. While not illegal, this makes the life of your accounting team more difficult. We have written extensively about what you can do if this happens here. In general, companies have clear policies on what to do when this happens, and yet most people fail to adequately compare the risks to the rewards when it comes to business credit cards. This short article will give you a couple of examples you should be mindful of when you are out spending.
Credit and debit cards present significant advantages to managing your expenses. However, most banks apply a series of surcharges that are not always clear and can significantly increase the costs of a card. For businesses, even small transactional fees make the difference. That is why we dedicated this article to look into the most common hidden fees and how your business can avoid them.
By working with Visa, Payhawk is enabling finance leaders across Europe to manage company cards at scale in a tax compliant manner.
The European directive PSD2 (“Revised Directive on Payment Services”) was in all news, when by the end of 2019, European companies had to start complying with PSD2’s Regulatory Technical Standards. The overall aims mentioned are honourable: To create and establish an integrated banking structure within the European Union to foster competitiveness between banks and non-financial institutions and provide better services to EU citizens, eventually. But, does this Open Banking initiative really brings the benefits the EU hoped for or comes it at the expense of security and user data issues?
No matter what industry you are in, chances are your company is struggling with managing its spending. Using cash or out-of-pocket payments makes it difficult to keep track of a company’s expense life cycle. The first step in solving that problem was the introduction of the corporate card. Nowadays, there are three types of corporate cards that your business can benefit from – Prepaid, Debit, or Credit card. This article explores how each one of them works and which might be the most appropriate for your business.
We are happy to announce the availability of two key features Fund Requests and Spend Policies! We hope to minimize the number of times employees are left without budgets by building the requests for additional funds and approval process directly within the Payhawk mobile app. We are also introducing the ability to manage multiple cards with a group spend policy so that you can set different spend policy levels for Executives, Managers, and Employees and assign it to cards.
Company spending policies follow the same rule as any other corporate process: build as much as needed when you need it. This means different things for different companies. We will share our observations of how different companies tackle the rules around their business expenses. Building on this knowledge, we have summarised the objectives the organisation needs to consider when defining a spending policy.