No matter the industry, expense reconciliations is vital, yet often neglected or mismanaged accounting function within a business. Usually compounded by the strain and time sensitive month-end requirements, many organizations feel the pain involved with their current reconciliation processes. The good news is that there is a way to reduce risk, implement procedure improvements, automate payments and make your entire reconciliation process easier to manage.
Reloadable Expense Cards for Businesses
Reloadable cards offer a streamlined and more effective way to distribute funds to employees, manage budgets and reduce payment processing costs. They eliminate the hassle of having to manage multiple expense reports, improving operational efficiency. The cards can be created and assigned with just a few clicks, can be linked to specific budget groups or pools and eliminate the need to track down missing receipts from employees. Using reloadable debit cards also offer better security and protection for your organization as employees no longer need to share one physical card or risk sending the card number via email or instant messaging to another associate. Funds can easily be disbursed as required, providing organized expense tracking and automated receipt collection.
Here is an overview of four major ways that using reloadable debit cards for businesses can grant better oversight of corporate expenses and save on precious resources.
Better Disbursement Administration
- Secure, safe online administration tools for simple reloadable debit card ordering and allocating funds
- Improves reimbursement policies and procedures
- Streamlines expense reporting
- Enables strict budget control
- Streamlined administration of fund disbursement
- Eliminate costs associated with creating paper checks
- Able to make payments online
- Reduced service charges and credit card fees
- Reduces costs of canceling and reprocessing lost or stolen checks
- Cards can easily be replaced if lost or stolen
- Protected by MasterCard's zero liability policy
- No personal credit check or bank account information required
- Safer than carrying cash
- Can be used online and in stores wherever Mastercard is accepted
- Cardholders and administrators can track transactions in real time
- Syncs directly with major accounting platforms
If you are ready to take control of your business expenses and seamlessly manage your payment reconciliation process, Emburse can help. Our business reloadable debit cards provide flexible spending controls, improved budget control, and expense policy enforcement through mobile receipt capture.
Contact a member of our team today so we can provide a live demo of our employee reloadable debit card program and show you how we can help your business reduce the pain points of expense management.