In today’s business environment, corporate cards are a fundamental necessity. Keeping track of all cspending for the company’s needs can be done with corporate cards. To secure your company’s budget from unauthorized expenditures and abuse of trust by your staff, you must constantly monitor these cards’ expenses.
You will definitely need corporate cards if you want to use your company’s working capital correctly and with full accountability. Corporate cards will make purchasing easier and save money even if you have a small business.
Corporate clients appreciate the comfort of use and convenience of payment with a unique card program for their business. Suppose you are interested in such a solution and want to integrate it into your business. In that case, you can explore all its possibilities, advantages and features on the Wallester Business page . Open up new opportunities for your business with Wallester Corporate Cards https://business.wallester.com/
Payment convenience goes to the next level
Source: learn.g2.com
Your working capital is under complete control. New billing options become more intuitive. Every transaction can be controlled in real-time. Corporate cards are suitable for all customers without exception.
Quick payments without delays. Money turnover for services or goods from suppliers and settlement with customers is much faster and takes only a few days. Now you have special software with online access to all information, which significantly simplifies corporate financial transactions.
Payment is just a few clicks away. The dashboard has all the information you need for quick payments. You can also monitor the status of each transaction and view employee responsibilities and other parameters to make payments as easy and fast as possible.
Why you need a corporate card and what it gives your company
Source: zoho.com
All expenses are intelligently sorted. Reporting for each card is filed centrally. If an employee is on a business trip, it’s easy to sort staff expenses.
Expenses are fully optimized. The corporate card program allows you to intelligently manage business expenses and properly allocate your budget, reducing costs. You don’t have to think of anything else. With the tool presented, you can efficiently make daily financial transactions for small and full-fledged large corporations.
Employees save as much time as possible on payments. Your staff can enter their payment details. The program has already provided automated payment methods.
You no longer need cash to pay. The card works on a VISA basis, so you can comfortably pay by non-cash.
You can fully integrate the program with any financial software of your company. The accountant has a lot of possibilities:
- control of funds spent – an authorized person can control all purchases in real-time;
- expenditure monitoring and budget optimization – the accountant can set limits on the card, track team purchases and save the company’s funds.
How to intelligently manage corporate cards for maximum business benefit
Source: gi-de.com
If you want to introduce corporate cards into your business, it’s worth ensuring no one can abuse them. To do this, it’s worth introducing specific measures:
Sign an agreement. It’s best to draw up an agreement for a year that outlines the card’s terms of use, user obligations, guidelines and other things.
Analyze your spending. From time to time, it’s worth checking that the money from the card has been spent precisely where your firm needs it. Questionable spending is cause for concern.
Set specific limits. It is worth setting reasonable limits on expenditures from the corporate card to avoid excessive spending.
Set up an alert system. An accountant or authorized person may be notified when an employee plans questionable financial card transactions.
Keep records of receipts. To fully secure the company’s revolving budget against questionable spending, be sure to require receipts from employees for meaningful reporting.
Implement an automated payment system. With it, all card activities will be easily accessible and it will be very easy to identify any suspicious payment.
How to sign up for Wallester’s corporate card program
Suppose you are interested in the Wallester Business service and want to introduce a corporate payment card program. In that case, there are a few simple steps to do so:
- Start the registration process by entering an email address.
- Add more information about your company.
- Identify your account. To do this, submit corporate documentation for your business in a comfortable format.
- Confirm your identity to create an account:
- Provide personal information for each board member or CEO of the company. The system also asks for information on the ultimate beneficial owners. You need to indicate those who own more than 25% or 10%. If there are none, indicate the person who owns the most significant percentage of the business.
- To verify the identity of these people, you must include their phone numbers. To verify their identity they will receive a link to verify their identity in the Onfido system.
- Study the agreement and accept the terms of the payment system. This item appears after the service managers will verify all 3 blocks of information submitted (your business details, corporate documents and identity verification).
- If the proposed information satisfies each party, you can immediately start using the corporate card system.
Wallester Business corporate cards will help optimize each company’s spending budget. There should be no problems with using the program. A qualified support team will solve any questions quickly and easily if you have any questions. Suppose you are ready to introduce this program in your business. In that case, you may study its terms and conditions on the official website.
FAQ
What can I pay by corporate card?
Source: experian.com
The primary purpose of using a corporate card is to pay for services and goods for the company’s benefit. You can pay for a hotel room during a business trip, transport, and other goods and services with cards.
How does a corporate card work?
Company employees no longer need to use their personal cards to pay for work-related expenses – staff group entertainment, business trip expenses, etc. A corporate card works like a standard VISA card, which many firm employees have to pay for services or goods for the company.
Can I replace my corporate card with a business card?
The main difference between a corporate card and a business credit card is that the employee is responsible to the company for its charges. Whereas the business card holder is responsible for the costs of business cards.
Can I pay with my corporate card during business trips abroad?
Suppose an employee of the company needs money in another country during a business trip. In that case, he can safely use the corporate card. It is suitable for virtual payments and can also withdraw cash within the payment system.
