As a business owner, especially a small business owner, keeping your expenditure in check and within reasonable limits is of top priority. You may wear many hats, an accountant, talent manager, operations manager, etc. But with all the inevitable expenses day in and day out, it may be difficult to keep tabs on expenses and manage cash flow. This is when you know you’re in need of an expert to help you manage your books.
What if we told you, you need not hire a person to take over your books? What if we told you we could offer you a tool that will do all the bookkeeping for you and more?
Yes, that’s right. Bento for Business is a card-based expense management platform that gives you industry-leading card controls, reporting, and reconciliation tools for easy and accurate budget planning. Real-time reporting makes all the difference for expense management processes. Budget planners can do their job accurately by having ready access to spending information that’s up to date. There’s no need to wait for interim financial reports when Bento keeps track of expenses on the go.
Why automate your business’ bookkeeping and reconciliation process with Bento
Automating this time-consuming task comes with ample benefits that extend not only to you as a business owner, but to your company, employees, field worker, vendors, and contractors as well. Here are specific ways the automation brought to you by the Bento platform can streamline and vastly improve your expense management process:
Streamline your accounting operations
When your accounting operations are streamlined with the help of a powerful spend management platform like Bento, your accountants and controllers can do their jobs more efficiently and catch potentially catastrophic errors immediately.
Partnering with a spend management platform allows you to eliminate having to perform costly, tedious, and time-consuming audits to uncover potential fraud, locate areas where expenses are out of control, and find and fix accounting errors before the company finds itself in trouble. Bento also helps you limit spending, provides ready access to expense reports at any time, updates reports automatically, flags issues immediately and greatly simplifies the entire accounting process for fewer errors and more robust accounting practices.
Close your books up to 5x faster
Free up your valuable time to focus on high-value tasks. No more having to manually chase expense receipts and create reports. Continual syncing to your company’s general ledger means you won’t be scrambling at month-end to pull together the numbers.
Optimal cash flow management
Optimal cash flow management is a result of effective expense management and Bento helps you achieve just that. Bento provides you with greater control and better visibility to enable vast improvements in your ability to administer how much and when cash flows out of your company.
Bento’s debit card options allow you to give each employee card with built-in spend controls. Each transaction made on these cards is automatically recorded, tracked, and synced to the general ledger to keep your accounting books up to date. You can get accurate accounting reports instantly any time you need them – no need to wait until the end of a quarter to see your company’s true financial picture.
Accurate and real-time budget planning and expense reporting
As a budget administrator or business owner, you need an overview of all spending without having to reach out to Accounting and Finance teams for interim reports. Bento gives you full access to all the data and insights you need in real-time to manage budgets strategically.
Accurate budget planning helps a business keep running smoothly. With a platform that provides ready access to real-time expense reporting, it becomes so much easier to create a doable budget and most importantly, stick to it. Budget administrators have the information they need to successfully tackle expense management and come out winning.
Real-time visibility and control
As a Budget Administrator, you’re responsible for making sure company funds are used strategically. Bento’s easy-to-use controls allow you to set controls on employee spending and change them as needed.
You get control over cash accounts, receipt capture, and easy integration with major accounting packages. With Bento you get the data you need and time to make value-added business decisions instead of chasing down paper reports, saving you millions of dollars that can be invested back into your organization.
Do it all on a single, unified platform
This is probably one of the biggest benefits that you can get out of Bento. Using siloed systems for all your business expenses is difficult to keep a track of and therefore highly inefficient. The Bento for Business spend management platform allows you to manage all aspects of your business expenses on one platform. Our platform offers real-time visibility into all your spending with deep data analytics so you can make better-informed business decisions.
With Bento for Business, the possibilities are endless
Controls Setting up spend controls on each card ensures that all company expenses fall within your budget and are pre-approved before employees use their cards.
Planning Develop a budget, improve forecasts, and optimize cash flow based on real-time access to spend patterns and data.
Improve operational efficiency and reduce process variation to achieve more predictable outcomes with Bento.
Control, Empowerment, Efficiency
Flexible controls empower employees to spend money to do their jobs. Eliminate reimbursement hassles while maintaining budget integrity.
Eliminate Expense Reports
Employees have budget and expense controls. Receipts are captured in the app. It all syncs with your accounting system for seamless expense management
If you are looking for all of this and more, sign up for Bento today or request a demo from one of solutions expert!