Companies today are requesting tools to ease administration, more than ever before. Company credit cards are a great way to ease administration, and there are even more reasons to issue company credit cards to employees. Her is our top 4 list of reasons to issue company credit cards.
1. It saves you time
How long does it take every time your company has to pay an invoice? There can be many steps involved in paying an invoice: registering, manual entries, archiving etc. All of this takes time. However, if your employees use credit cards to pay for expenses, and then use Acubiz One to take a picture of the receipts and register the payment, it all takes 5 minutes from beginning to end. That’s it!
Card transactions are imported directly to your Acubiz EMS, where the relevant receipts are attached automatically. After that transactions are ready to be approved.
In particular, there is a lot time to save if you use credit cards for services employees frequently use eg. toll fees, brobizz, parking services or subscription services. Because transactions are imported automatically, there is next to no manual work involved, which eliminates human errors, and oversights AND it saves time!
TIP: If you use Fast Track, users can send transactions for approval directly from their mobile devices. As a result users save even more time! Contact us if you want to know more!
2. It gives you full control of your expenses
All card transactions contain detailed information about the expense, and you can see exactly what has been spent, where and when. The receipt is automatically attached to the payment. This gives you a full overview and certainty that all expenses contain the correct information. This means that you can easily get insight into what a project or a trip has costed. It also means that you are protected against fraud and misuse.
TIP: In Acubiz EMS 6.5, we launched the function “Company Policy Manager”. This gives you the ability to set rules for individual employees’ use.
3. No cash expenses means happier employees
With company issued credit cards, employees do not have to pay in advance and wait for a reimbursement. Instead purchases are made directly on company accounts. This means that employees do not have to worry about when they will get their money, interest rates in the meantime or what exchange rate their advance will be reimbursed at. This can mean a lot to the individual employee. It may also greatly affect how satisfied they are with working for your company.
4. You are secured against fraud and bankruptcy
Credit cards are the safest way for you to pay when making a transaction involving distance selling. You are more secured in case of ie. fraud or bankruptcy. This is because you can reverse a transaction by getting a so-called chargeback. You can recieve a chargeback if ie. the product is damaged, the seller has charged too much money or the company has gone bankrupt.
