With the flexibility of corporate credit cards these days, there are more than a few ways they can be adapted to fit a unique business model. When it comes to shared corporate credit cards, there are features that make it useful for making budgeting easier. In this article we’ll go over 4 ways a shared corporate credit card can assist with budgeting procedures.
1. A Shared Corporate Credit Card For Project Budgets
A shared corporate credit card that covers all the expenses related to a single project allows easy budget tracking and expense analysis. When using separate credit cards for a singular project, expenses become scattered across statements which require amalgamation before any analysis can be made.
2. A Shared Corporate Credit Card For Team Budgets
Similar to project budgeting, when a company is divided into distinct teams, a shared corporate credit card will attribute charges to the appropriate group regardless of the project they’re working on. This allows administrators to easily assess the expenditures of different departments independent of the associated projects.
3. A Shared Corporate Credit Card For Easier Budget Forecasting
When it comes to creating budget forecasts, shared credit cards can eliminate a lot of the guesswork associated with such projections. By examining prior spending patterns related to shared credit cards, it can be easier to predict future trends.
4. A Shared Corporate Credit Card For Staying Within Budget
By using a shared corporate credit card, employees feel part of a team rather than being a single entity with little effect on their surroundings. A shared card can create an environment where keeping expenses within the budget is reinforced among the team members themselves.
The Emburse Shared Corporate Credit Card
Emburse is pleased to announce the introduction of credit cards with varying settlement and invoicing options through a partnership with Comdata, a leading commercial card issuer. For more information, schedule a free demo with Emburse today.