Corporate cards are a convenient payment instrument that can be used to pay for purchases related to the core business activities of a company and to cover hospitality expenses. They can be used on business trips to pay for hotels, train and airplane tickets or car rentals. It is a convenient tool for making household purchases – stationery, office equipment, furniture and everything necessary for the normal life of the business. Besides the fact that a corporate card is a convenient means of employee payment, it is also an effective tool for managing corporate finances.
Advantages of corporate cards for business
If earlier, to issue corporate cards, you had to apply to the bank and wait for a long time for approval to launch your card project; with the Business Wallester platform, the launch is carried out in the shortest possible time. With its help, it is possible to issue any number of physical and virtual cards that will help businesses to solve the following issues:
● speed up the expense categorization process. All employee expenses can be quickly processed and sorted, creating reports on all cards in a quick and centralized manner;
● optimize control. Platforms for managing card programs provide an effective mechanism for working with payments, eliminating the risks of making rash financial decisions. It allows you to avoid a lot of unnecessary and ill-considered spending;
● save time. Employees do not need to manually report on purchases made, as all payment processes are automated. When using a corporate card, its holder immediately receives a notification in the application and can add a photo of the account made with the help of the application to the system. All information about the transaction will be saved automatically.
Corporate cards can be easily integrated with accounting programs already used by the company. Finance department employees can track any purchases made with their help in real-time. Thanks to the ability to set individual card limits, the finance department can analyze corporate purchases more effectively and thus better manage the company’s budget.
Useful for business functionality of corporate cards
Corporate cards allow to bring the management of corporate finances to a new level due to the following features:
● instant issuance of cards through a special platform;
● card management via a mobile application;
● issuance of an unlimited number of physical cards with their delivery anywhere in the world;
● making payments with the card all over the world with automatic conversion at the most favorable exchange rate;
● setting individual spending limits on cards, which allow the employee not to worry about exceeding the budget;
● possibility to connect cards to contactless payment systems for fast and safe shopping with mobile gadgets or smart watches;
● activation of alerts allows to receive prompt information about any questionable transactions with corporate cards.
Corporate cards for employees are a convenient means of payment, while for businesses, they are an incredibly powerful tool that helps modernize and improve the work of the finance department. They are an optimal solution for start-ups, small and medium-sized businesses, and well-established companies with an extensive network of clients and partners.