Managing expenses can be taxing for organisations, especially as they look to prioritise resources in areas of growth. One solution to this challenge is using a service like Expend Business‘ Card Connect, which has seen record up-take.
Expend, the expense management software with employee expense cards firm, aims to streamline financial management to improve efficiency. It achieves this by processing expense data from Mastercard and Visa transactions, which feed directly into an expense capability.
Johnny Vowles, CEO, Expend
Expend CEO, Johnny Vowles says: ‘’Card Connect has two important attributes. It enables companies to connect all of their business cards to our single platform, which has multi-card acceptance. This means that users can view and submit all of their expense claims in one app, whether, for example, they paid on their corporate Barclaycard or business HSBC card.
“The second is that these card payments can be viewed in the app instantly, as they happen. There is no wait time between making the payment and seeing it in the Expend app.”
Card Connect
The Card Connect service works by allowing employees to charge expenses on their Visa or Mastercard business card, and by connecting their preferred business cards to Expend, the transaction can be processed quickly. By adding receipts to the platform, employees can then categorise the expense and submit it for approval at the time of making the purchases, which adds convenience.
The app is also easy to use for managers and finance teams as well. They can view submitted expenses from multiple cards, in one place, and then send them through their approval flow for sign-off and accounting reconciliation.
Vowles adds: “All expenses paid for on different payment methods can be handled in one single platform, saving the headache of multiple logins and banking apps to collate expense data.
“Traditional expense management is an ‘eye roll’ moment for firms of all sizes, and their employees. Paper-based receipts, clunky claims processes, and long sign-off routines create headaches and delays for finance teams and colleagues. However, with Expend’s Card Connect, we are continuing to revolutionise the expense management market.
“Clients tell us that the choice of card is valuable. For example, some have a favoured business card on which they are accruing travel points or loyalty benefits. It also reduces friction when firms move to Expend, which is a card-agnostic platform. So, managers with a high travel and entertainment profile can continue with their existing credit facilities and can register their preferred cards seamlessly.”
Removing tedious steps
Typically, payments on business credit card balances are managed centrally by a firm’s finance team. This can cost the company valuable time in processing each expense purchase. This can include card payments needing to be checked against bank statements. Expend’s Card Connect removes this overhead. It also eliminates the risk of errors being introduced through manual data inputting.
Whenever a Mastercard or Visa Business Credit or Debit card that has been linked with the company’s Expend account is used, a notification will be sent to the recipient. They will be pushed to record the receipt on their smartphone and submit it for processing via the Expend app.
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