Corporate business cards are kind of dangerous, aren’t they?
They seem like free money cards. Sure, the business is obviously going to have to pay off the bill, but it’s not your own personal money. No need to worry, right?
Eventually, the company needs to pay the piper, and might be left with a hefty, unexplained bill. How do you curb overspending on your corporate business card?
The solution just might be spend management.
Business spending is something that every business owner needs to think about but doesn’t want to worry about. After all, you like to think that your employees are trustworthy, right? Even so, there is still that little voice in the back of your head, putting doubts in your mind.
Well, with spend management software, you can put that little voice to rest. Keep reading to learn how.
What Is Spend Management?
Spend management is a specific type of software that allows for dedicated tracking of corporate and business cards.
This software makes the business of tracking and reimbursing payments incredibly simple, and it allows for safeguards to be put in place to curb unauthorized spending.
For example, you’re able to set a daily spend limit on cards, restrict card usage to specific merchants, and track transactions in real time. Moreover, expense reports are generated automatically, and they can be exported into QuickBooks and other accounting software in an instant.
Unlike traditional corporate cards, you’re also able to create virtual cards, which are a safeguard against fraud and misuse.
Why Should I Use Spend Management Instead of a Corporate Business Card?
Spend management software is like a supercharged corporate card. It has all the features of a regular corporate card, in addition to the advanced features listed above.
If you hate worrying that an employee is going to misuse a corporate card, spend management software is for you. If you dread opening the monthly credit card statement because you don’t know what the damage is going to be, you need spend management software.
And if you would rather get a tooth pulled than do expense reporting, it’s time to start using spend management software.
Spend management software also makes sure you don’t spend money that you don’t have. Instead of acting like a credit card, where you borrow money and have to pay it back each month, spend management acts like a debit card.
You have all the protection of a regular VISA card, but none of the worries that you’re going to be left with bills that you can’t pay.
You can get your virtual cards here, and say goodbye to worrying about employee spending, fraud, and expense reporting.
How Do I Get Started?
Ready to ditch the old corporate business card and get started with spend management? It’s simple to make the switch, and you definitely won’t regret it. Spend management is the way of the future, so get in on the ground floor while you’ve still got the chance!
Did you enjoy this article? If so, be sure to check out the rest of our website for more great content!
