Safe Solutions: Why A ‘Company Card’ Is A Thing Of The Past

17th November 2023

Do your employees currently use a company card to purchase goods, services or advertising? Looking for a safe and efficient solution to tracking and accounting payments?

Direct access to company funds is a risk to employers via fraud. As well as this, it is also logistically difficult for multiple staff members to spend at the same time. A typical business card provides no spending cap, no information on who spent what, and no means of protection from withdrawals and transfers.

Alternatively, your employees may still be part of the 70% of Corporate Cardholders that instead Use Personal Cards for Business Expenses (Fintech Times). Not only does this reduce the ease of consolidating expenses, it also impacts admin levels in order to approve reimbursements. Furthermore, larger purchases will also accrue interest for the employee, which cannot be claimed back as an expense.

Our solution? Your Own Safe, Branded Company Cards.

Crunch allows a business to allocate funds to their employees via it’s safe company card solution. This allows them to spend on their relevant department without overspending or needing to access company account details.

As Crunch is a safer prepaid company card solution, there is no overdraft, interest or APR. A company can choose to automatically load each card, or make one off top ups. As well as this, all payments can be directly traced back to the employee in question. This streamlines accounting and prevents any need for reimbursement from personal funds.

How Does Crunch Card Make For An Efficient And Safe Company Card Solution?

Predetermined spending budgets. Therefore, you’ll never spend more than planned on advertising, services or supplies.

Approval process. Team managers can authorise spending within their department, without needing to consult a superior employee. This streamlines spending and allows for dynamic and reactive decisions that would usually take weeks to decide.

– In-depth tracking. All purchases made by all team members can be exported, analysed and identified with ease.

Multiple purchases at once. Crunch allows for any department to make a purchase at any time. This prevents a waiting list of requests, for superior team members to approve.

Fraud prevention. Due to its allocated spending nature, Crunch prevents opportunities for staff fraud to occur. This reduces extensive admin tasks to recover lost and unaccounted for funds.

Interested in the streamlined and safe processes that a Crunch company card solution could bring to your spending?

Get in touch with our expert team today!

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