How to Prevent Employee Theft and Manage Your Expenses EasierExpense Management
Managing a business or even just its finances is time-consuming and prone to a lot of headaches—employee theft, lost receipts, expense leaks, expense reports, etc. We know how much you’d love to spend time with your family or even grow your business, but the truth is your working hours don’t allow much free time.
Isn’t there an easier way? A cost-efficient solution to managing expenses?
Introducing Employee Expense Cards
Yes, you can now say goodbye to most problems that come from employee purchases thanks to Bento’s employee expense cards!
These cards function like employee debit cards—giving you more control and reducing the risks of employee theft. It’s a powerful card solution that will save you more time and money than you’d ever imagine!
How does this work?
All employee expense cards are under your control. You can set limits on dollar amounts or even select specific spending categories to prevent employees from spending the business’ money on other things. You can easily turn cards on/off through your smartphone as soon as employees request cash. Bento’s intuitive system can even send out text alerts for purchases made by your employees!
It’s a great alternative to corporate credit cards. Less risk, more control—what else can you ask for?
Bento’s Solution vs. Other Employee Reimbursement Options
Giving Your Employees Cash
Though it’s the quickest and easiest way to fund employee purchases, cash has too much value to be in the hands of your employees. This is probably one of the riskiest options for business owners and is prone to unintentional or intentional employee theft, loss, or other issues. Tracking receipts can also be a burdensome task for some.
Bento completely eliminates the risk giving cash to your employees has!
Buying Everything Yourself
In this option, you get maximum control over your business expenses since employees never touch your finances. But the main problem with buying everything yourself is that it’s both time-consuming and impractical. Someone as busy as you won’t always have the time to buy everything for employees. Your time is too valuable to be spent making simple purchases, and should be spent on more “big picture” tasks.
With Bento, you don’t have to buy everything yourself and you can get back to growing your business!
Issuing Checks for Employee Purchases
Issuing checks for employee purchases may seem like a good idea but it’s also impractical. Sure, it’s way better than handing out cash to your employees and you generally know where it’s spent but it’s time-consuming; you still need to chase down receipts, and stores may not accept checks.
Bento is as safe as issuing checks minus all the hassle!
Making Use of Store Gift Cards
Some stores, like Home Depot, have ready-to-use store gift cards. This option provides control over business expenses but not only is it time-consuming, it’s also a hassle. You’ll have to drive to the store to buy gift cards for each store and distribute them to your employees. And the remaining funds left on the cards always seem to disappear.
With Bento, using store gift cards won’t be necessary since you can set spending category limits!
Giving Employees Corporate Credit Cards
Probably the most common way businesses manage employee expenses. It’s quick, easy, and you can easily see what your employees purchase, but you may have to wait for month-end statements. While it may seem like the best option yet, it’s actually the riskiest option. You’re personally liable for these expenses and you’ll have to call your bank each time an employee leaves your company to cancel the card.
Bento eliminates all the risks corporate credit cards have and provides real-time visibility!
Be Smart. Choose Bento Today!
Bento can empower your small business and help you manage employee expenses easily. Probably the biggest benefit Bento can bring to you is more time to spend on more important tasks—such as growing your business or spending time with your family!
Try Bento today and say goodbye to expense-related problems!