Employees use company cards for company-related expenses. A company card offers many advantages, but every time it is used to pay an expense, more work occurs in relation to documenting, approving, checking, accounting, and posting the expense.
Acubiz is compatible with all company cards and allows the user to make transaction data ready for accounting – digitally, fully automatically, and with the necessary documentation. In this way, the company card “handles the bookkeeping”.
In this blog post, we give five reasons to use company cards with Acubiz:
1. You save time
How much time do you spend when your company has to pay an expense? The task of obtaining the necessary documentation and other information that the finance and accounting department must use for posting expenses is often manual, time-consuming, and difficult.
That process can take a few seconds if you integrate your company card with Acubiz. You can use the Acubiz One app to take a picture of the receipt, then enter some information, and finally register the payment. The card transaction is automatically imported directly to Acubiz and your registration is automatically attached. The expense is then ready for approval. That’s how quickly it can be done!
2. You get full control of outlays and expenses
The use of company cards equals increased control for the company and assurance that all expenses are tied to the correct information. In addition to all card transactions containing the necessary information about the payment, it is also possible to see precisely what was used, where, and when. You can therefore follow the transaction in real-time.
3. You no longer have to ask employees to use their own cards
The employees do not have to pay themselves when they have a company card – instead, the payment is made directly from the company’s account. This of course means that the employee does not have to think about when the money will be repaid, what the interest rates in the bank will mean in the interim, or what exchange rate their outlay will be reimbursed at. Issued company cards can, together with Acubiz, therefore have a great impact on how satisfied employees are.
In the worst case, you can end up with employees deliberately trying to avoid making payments if they do not have a company card. One of our customers, KAB, has experienced this, and they learned not having a company card damages employee satisfaction.
4. You can set conditions for the use of the card
With a company card, it is possible to change the conditions of use. This means that in many cases, for example, consumption limits can be set. In general, the use of company cards leads to improved overview and increased transparency, as it is an effective data analysis tool that helps track and manage costs.
With our service, Company Policy Manager, you can ensure that employees and users of Acubiz comply with your guidelines and policies in connection with expenses. You can define rules about consumption limits for the individual employee or specify amount limits for certain cost types. This helps to create transparency.
5. You can create a digital value chain
How do you create a digital value chain that connects your company’s company card with your financial system? And how can your employees themselves handle the task of accounting for their expenses? Acubiz can help you create the digital value chain. We can take care of retrieving transaction data from your company’s company card, facilitate that the individual user fills in the necessary information, and finally hand over data ready for accounting to your financial system.
Acubiz, therefore, makes it possible to digitize and automate the journey of the expense – from the moment it occurs to the moment it has been through the bookkeeping process.
Those were some of the benefits of company cards and reasons to use them with Acubiz. Unfortunately, stories of corporate card fraud hit the news media from time to time. However, this should not prevent companies from using company cards. If someone wants to commit fraud, they will – also with company cards. Combining company cards with Acubiz increases transparency and you gain insight into the documentation surrounding the transactions, which makes it easier to identify whether there has been a breach of rules and guidelines.