End employee reimbursement processes at your business
For many business owners, handling employee reimbursement requests can be time-consuming. Your employees may be required to submit request forms that must then be reviewed and processed. All of these steps take away the valuable time of you and your employees that could be better spent on other tasks. Expense reimbursements may also be areas in which fraud and employee thefts frequently occur. Fortunately, you can help streamline your company’s employee reimbursement process entirely while also reducing the risk of fraud and theft by giving your employees business debit cards from Bento for Business.
How the Bento for Business debit cards replace employee reimbursement processes
The business cards from Bento for Business can eliminate your company’s need to use reimbursement forms for the money that your employees spend for their jobs. As Visa® debit cards, they may be used at thousands of locations across the U.S. and the world where Visa® debit cards are accepted, and they are not limited to branded stores. You are able to see the purchases that your employees make from your secure dashboard at any time and can print out reports. By requiring that your employees use the cards for all of their work-related spendings, you can eliminate the reimbursement process and the time it would otherwise take.
Spending categories and expense tracking
Expense tracking and expense management are areas in which businesses may have problems. The business debit cards make both of these tasks much simpler. Business owners are able to define the spending categories that are allowed on each card according to the employees’ jobs. If they attempt to make disallowed purchases with their cards, the attempts are denied at the point of sale level. For example, you can define the spending categories of your office manager to only the types of supplies that he or she needs to make for the office. If the office manager attempts to use the card to purchase gas, the transaction would be denied immediately. You would also be able to see the transaction attempt on your dashboard so that you could handle the situation appropriately.
The ability to limit the amount of money on each card and to track and control spending can make it much easier for you to manage and track your expenses. The data from your cards can be transferred directly into your office’s bookkeeping software or sent to your accountant.
Security for peace of mind
It is common for business owners to be highly sensitive about security. The business debit cards from Bento for Business use SSL-encryption technology, which has the same degree of high-level encryption that is used by banks. You can fund your cards by making a deposit into your account and then designate how much money to place on each card. You are also able to set daily or weekly spending limits on each card that you define. Funds held within Bento are FDIC insured to at least $250,000 through The Bancorp Bank; Member FDIC—giving you added peace of mind that you and your money will be protected.
Contact Bento for Business today
Business debit cards from Bento for Business can help you to eliminate the problems that reimbursement processes can bring to your company. The cards may also allow you to enjoy better spending controls and a stronger ability to manage your expenses. You can obtain up to 10 cards for just $29 per month. Get started on your 60-day free trial now or call us at 866.220.8455 to learn more.