Expense management is a process of paying, tracking, controlling, and managing business expenses – from fuel to travel to general-purpose payments. It is one of the most tedious tasks of any business, which consumes considerable time, money, and other resources when done manually.
Still, businesses are using traditional expense management systems to manage their regular expenses. They struggle to make timely payments such as employee reimbursement and have no control over their spending.
With the automation of cash-equivalent payments using modern tools like expense cards or reloadable business cards, both enterprises and small businesses can streamline their expense costs.
InstantPay card that comes integrated with a smart digital account offers you a productive and hassle-free way to manage your company expenses effectively. You can do it all at ease from paying employees to auditing to limiting their spends.
So, let’s understand that implementing this card is the right strategy to streamline business expenses while eliminating the inconvenience of cash, receipts, etc.
Simplifying your team’s spend, a perfect alternative to cash or cheque-based payments
The InstantPay card can be issued to individuals, teams, or departments and easily loaded with the required amount so that it can be responsibly used for business spends. A more secure and transparent way to pay instantly, the card helps you automate payments for regular expenses as well as one-off compensation like travel, hotel, events, etc.
In addition to saving time on repetitive tasks, you can optimize your budgeting and simplify the complexity of allocating funds while eliminating manual entries for cash or cheque-based transactions.
Efficient management of your business expenses with real-time tracking
Designed to make banking a seamless experience, the InstantPay card is an ideal solution for handling your team’s spend. It allows real-time monitoring of all your business expenditure and gives clear insight into your company expenses via its intuitive payment dashboard so that you can make informed decisions for your growing business.
Not only that, the simple and effective reporting gives a quick overview of all your transactions in one place. Also, you can create a better employee experience by managing your expenses wisely.
Set spend limit or restrict card usage as needed – full control at your fingertips
Facilitating employers and employees both, the InstantPay card is a useful tool for businesses to meet their growing expense management needs. The other good thing about using this card is that it allows employers to set limits as well as define where and how this card can be used.
Besides, it’s a great strategy to provide specialized access to your teammates as per their needs, where having full control over expenses builds both trust and confidence. The card provides a good degree of protection because it can be easily blocked if lost or stolen and a new card can be issued using the InstantPay platform.
Convenient way to disburse salaries, incentives, and reimbursements
Owing to its benefits of budgeting, convenience, traceability, and security, the InstantPay card is great for disbursing salaries, incentives, and reimbursements to employees. Reloadable in nature, it offers a more convenient and systematic way to issue payments to workers, eliminating the need for a salary account.
The card is widely accepted at online as well as offline merchants and facilitates cash withdrawal at ATMs across India. Most importantly, it allows simple and uninterrupted payments for your staff without maintaining any minimum balance.
A smart approach to expense management
The InstantPay card is a simple yet modern alternative to cash payments that makes expense management easier and smarter for you. Designed for a cashless, contactless, and better experience, it empowers businesses to provide appropriate payment choices to employees, remote workers, and unbanked staff members while saving effort, time, and money.
We have customized this card to suit almost all businesses from startups to established organizations. All in all, it’s a future-ready card cum account by InstantPay that streamlines payments and expense management for enterprises and helps them grow in this digitally evolving world. So wait no longer, start using this business card to simply load, track, and control your spending from one place.