It is increasingly being offered by companies corporate cards to its employees and managers. It is an important tool that can bring many benefits, but be careful: its use also requires a certain diligence on the part of the employer and the employee.
Benefits of corporate cards
have company cards many uses: Pay for employees’ travel expenses and meals and even buy office supplies. However, if there is no control by the responsible company, this form of payment can cause the employer some headaches.
The use of company cards makes it possible to generate custom reports facilitate bookkeeping and cost control. Therefore, they serve to know where the money is going, who is spending how much and how, etc.
In a large company where detailed control is not always possible, it is a very useful toolbecause it reports a more knowledge about expensesboth employers and employees.
Company card, when the benefit should be extended
If you decide to provide your employees with a company card, you will need one adjustment time to verify if the benefit worked or if it was just a headache for the administration.
If indeed there was an improvement, you might be wondering if you should extend the benefit to other employees. But how and when should you make this decision?
Business columnist Elaine Pofeldt, in an article for Credit Card Portal, argues that distributing many corporate credit cards, especially if the company is small, can be a major headache.
Since the business owner is usually the cardholder, this is recommended Be careful with the distribution. The first step, the expert said, is knowing you’re doing good business for the company, regardless of the type of card you choose.
As you increase the number of cards (which also increases the value of the spend), you are likely to receive Best results with your rewards program. However, one should evaluate whether this compensates for the values used.
Another piece of advice from the columnist is Analyze each case individually: A sales representative who travels with only their personal card and has to wait for a refund from the company may feel disadvantaged. Then the company card can be a solution.
At the same time, it is not worth giving a company card to an employee who hardly ever makes purchases for the company, as he might do make control difficult and hurts the budget. Best of all is a card volume that makes things easier for both the employer and employees.
small business card
North American startup Bento has one prepaid card especially for small businesses. With master cardThis card is designed to help manage employee expenses.
Unlike the traditional business card, Bento works like a debit card, allowing the business owner to use a spending limit per day, per week or per month for your employees.
Bento Mastercard allows business owners too control in which companies the employee may use the card: For example, the company car fuel card is activated, but it must not be used in facilities that are not associated with use for work.