Managing any business is a tough ask in today’s time and on top of it having multiple branches and units, maintaining each and every outlet is an uphill task. Expense management can get into complete dismay if proper processes and systems are not put in place at the right time.
To prevent cash leakage & run a profitable branch-wise business, a robust system needs to help you manage business expenses automatically without your presence. FinlyFinance is one such digital expense management system which eliminates the manual process of automated expense reporting and brings in rich automation which captures all expense details and integrates it with your accounting software. Using this software can considerably reduce stress, helps you save money and provide your finance team with complete visibility into business spend along with insights into expense data .
This is where the prepaid card comes into play.
A prepaid expense card can be as specific as to your branch
A prepaid card works like a normal debit card but with more enhanced features and functionality. With a prepaid expense card, you alone have control over how much is spent, where & when. If you use a corporate credit card, there are a lot of rules and regulations to be followed as per bank norms and some policies might not go well with your organizational policies rising conflict of interests.
A prepaid expense card encourage sensible business spending
You can assign a Finly card specifically into each outlet and your staff can use our HDFC VISA cards for ATM withdrawal, online & POS spends. Load cash on the cards and set spending limits for each branch to keep expenses in check using Finly’s Dashboard. You can restrict spending limits to each card depending upon the spending limits in each outlet.
A prepaid expense card eliminates the need for cash advances.
Just allocate one to any of your employees who need to make purchases in the course of their work. The right prepaid expense card will do more than fund your franchise’s petty cash expenses. If there’s an emergency that requires an immediate purchase, or a one-off event with its own costs (such as travel/hotels), you can transfer the money to the relevant employee’s Finly prepaid cards with a click of a buton from your Finly mobile or web application. You’ll have the perfect mix of flexibility and total control over your expenses.
Track real-time spends & expense reports
Finance team have an option to centrally track & manage all expenses. They can be permitted to load or withdraw funds, view business transaction summary, approve expense reports all from Finly dashboard depending upon the organizational hierarchy.
Integrate with Accounting System
With a click of a button, Finance Teams can export all the transactions into their Accounting System.
By examining your existing environment and your business objective you too can make successful decisions regarding implementing Finly for numerous advantages.