Business Expenses
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Challenge
Businesses generally have a complex and inconvenient accounting system. Accounting corporate expenses is usually based on bank statements; hence, real-time cash flow tracking is not possible. Information for recurring expenses can often delay all other payments made by different employees. All this in mind,
business accounting is hard to control and delays are inevitable.
Payment cards typically used from employees are limited in their functionality. Companies use standard cards, which make personal expense management difficult, let alone business accounting management. They do not carry any customization for specific purposes, like setting spending limits per card/merchant category, real-time transactions monitoring, etc. Not having such features can potentially lead to many complications:
• lack of funds when attempting to make a payment
• unplanned expenses
• overspending and so on.
From bookkeeping to payroll, business finance and accounting processes are complex experiences for employees.
Solution
Issue your own multifunctional Mastercard (whether that’s Prepaid, Business Debit, or Credit).
This will allow your business to optimize all processes connected to expense management. Be in control of accounting, receive real-time transaction alerts, rely on instant payments processing. Reduce administrative time by accessing a complete overview of company’s finances in one place. Simplify reconciliation.
Reloadable cards are the perfect corporate tool to control employee expenses, whether that’s food, fuel, travel, multiple currency, or any custom requirement of your business. Virtual or plastic cards, expenses become traceable and secure.