Looking for an alternative corporate card and expense management solution?

In this article, we look at why businesses are introducing Payhawk as an alternative to their former expense management and corporate card solutions. And why our market-leading integrations and globally accepted payment cards (with comprehensive approval workflows) make controlled corporate spending easy, transparent, and fast.

Why choose Payhawk over your current spend management solution?

You’re busy; we get it. That’s why we’ve summarised our core spend management solution benefits, including corporate cards and expense management software, into the handy bullet points below:

Corporate cards:

• Physical credit and debit cards
• Virtual employee payment cards
• Digital wallet options with Apple and Google Pay support.
• Our cards are accepted worldwide in multiple currencies (EUR, USD, GBP, BGN, DDK, and RON)

Controls:

• Custom approval workflows
• Multi-level spend approval & expense policies
• Daily limits
• Card auto-blocking
• ATM withdrawal blocks
• Subscription management for online purchases
• Custom workflows at the group level

Integrations:

• Direct integrations with market-leading ERP, accounting, productivity, and business travel tools, including NetSuite, QuickBooks, DATEV, Microsoft Dynamics, and more.
• Partner program to support enterprise implementations

Savings and ROI:

• A fast ROI of approx 10 months
• Reduced manual work by 50%.

Plus, data security is at the heart of everything we do; and we’re PCI DSS, SOC 2 Type 2 and ISO 27001 certified.

Make spend management easy

As your business scales, managing expenses becomes more complex. We’re all looking for intelligent digital solutions that make our lives easier, so here’s how Payhawk takes the weight off your shoulders.

Open accounts with ease and issue business debit cards in multiple currencies

If your business is international, you need a solution to support global payments in multiple currencies. With our globally accepted Visa debit cards, you can empower your team to spend money with over 46 million merchants, and with almost instant-to-issue virtual cards, you can start spending in seconds.

So, wherever your team is in the world and no matter what currencies they’re spending (EUR, USD, GBP, BGN, RON, DDK, and more), Payhawk is here to facilitate streamlined expense management for everyone. And adding your payment cards to Google and Apple Pay can make spending even more convenient.

Not only can you set your account up quickly and make international spending easier, but you can also spend knowing your data is encrypted using industry-standard AES-256 encryption. Data security is a top priority here at Payhawk, and that’s why we’re certified by some of the highest security agencies in the world — we’re PCI DSS, SOC 2 Type 2, and ISO 27001 certified.

Define your spending policies and approval workflows

Naturally, you want to ensure all expenses follow company policies and prevent any unauthorised spending. With Payhawk, you can define spending policies and set up advanced approval workflows across multiple entities. And you can manage entity-level workflows to meet specific requirements, such as designated spend approvers.

With our spending policies, you can set restrictions on payment cards, including recurring limits, ATM withdrawals, and online purchases. This approach to expense management gives employees autonomy to spend but restricts it within a framework so you always maintain control.

Keeping business spending visible at all times means you can accurately forecast the company's future spending and create an effective budget to align with your business growth ambitions. You can also improve accountability and compliance, simplify expense management, and avoid unnecessary expense approval delays with automated approval workflows. And, if you're a designated spend approver, you can approve out-of-office requests using our mobile app.

Set up quickly (and get ongoing support)

Access to smart software is only the start of improving expense management processes. You need a network of experts offering ongoing support to enact positive change. And that’s what we can provide you with from the moment you sign up.
Unlike other expense management platforms, it takes us only one month to integrate Payhawk into your organisation on average. That means fewer disruptions to your expense management processes, and you can be up and running and streamlining your spending policies in no time.

We deliver a 38%* faster time to value when compared with others in the expense management category

*This data is based on third-party reviews on G2 *

When you sign up with Payhawk, you’ll be assigned a dedicated account manager who can provide ongoing success resources at any implementation stage.

Or, if you’d rather explore yourself, we have an entire help centre packed with valuable resources covering every angle of implementation and beyond.

Final thoughts

Finding the best-fit alternative spend management solution for your business can be overwhelming. That’s why you should make the software company do all the heavy lifting.

At Payhawk, we welcome all your expense management questions. Our solution delivers endless value while streamlining all your business expenses in one place.

Ready to find out if Payhawk expense management is the business finance partner you’re missing? Book a demo and take the chance to grill our experts on making our features work for you.