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ComplicatedReimbursement Process
If you’re using a reimbursement process for
company purchases, ensure the process is as
seamless as possible. Reimburse your
employees in a timely manner to avoid
employee turnover.
Exposing Company to Credit Risk
A credit card solution is great for building
your businesses credit—but can also
expose your company to risk. Ensure you
know who has access to the company
cards, and check your statements regularly.
Petty cash can be hard to track and difficult
to manage. Businesses larger than 100
employees should not rely on a petty cash
system.
Relying onPetty Cash
Credit card solutions allow you the flexibility
to purchase funds while freeing up liquid
capital. However, if transaction fees and
interest rates are adding up, consider a
business debit card solution.
Transaction Feesand Interest Rates
As businesses change and grow, so do their
expense management needs. Outgrowing
your employee expense management
solution can cost thousands in unnecessary
expenses and employee time.
OutgrowingYour Solution
Companies that utilize prepaid business card
solutions save up to 35% when comparing
actual spend versus budgeted spend for
business travel due to tighter controls.
UnnecessaryTravel Expenses
Manual expense reports eat up time and
money. By streamlining your expense
reporting process, you can save on your
company overhead and free up capital to
invest back in your business.
BurdensomeExpense Reports
Many corporate credit cards require an
authorizing officer to sign for the account,
and they can be held personally liable for
the company’s debt. Switching to a prepaid
business card solution will add a safety net
for your employees.
Exposing Employeesto Credit Risk
There’s often room for misuse of company funds by employees, whether intentional or not. Use an employee expense management solution that allows you to set spending limits and increase control over which employees have access to funds and where they can use their card.
Loose FinancialControls
In an emergency situation, it’s essential
to have a way to get employees the
funds they need. Business prepaid card
solutions allow you to transfer funds
24/7 from your smartphone or
computer.
InflexibleExpense Solution