Corporate cards are a means of payment for employees\u2019 (strictly) professional expenses. Linked to the company\u2019s bank account, there are several types and names: prepaid card, business payment card, or pro card.<\/p>\n\n\n\n
Unlike traditional expense reimbursement systems, corporate cards offer a number of advantages to help optimize business expense management. For example, employees no longer need to advance personal funds, which could have posed financial problems for them in the past. The cards also streamline the accounting reporting process.<\/p>\n\n\n\n
However, companies that use these cards will need to pay attention to security and control issues.<\/p>\n\n\n\n\n\n\n\n
Some companies use the bank cards offered by traditional banks. However, managers and CFOs are increasingly turning to more comprehensive payment solutions<\/strong>, which enable them to manage their employees\u2019 corporate cards more efficiently and accurately.<\/p>\n\n\n\n Service providers specializing in professional finance or expense report management have innovative technology and advanced digital functionalities<\/strong> at their disposal, such as:<\/p>\n\n\n\n To help you choose the best corporate card solution, check out our comparison of the main offers on the market.<\/p>\n\n\n\n Not everyone needs a corporate card. In fact, it would be counterproductive to give one to every employee, as it can complicate the management of payment methods. What\u2019s more, an employee who hardly ever uses his or her card is more likely to misplace it.<\/p>\n\n\n\n Start by drawing up a list of current expenses<\/strong> and costs<\/a> to be incurred in the course of your business activities:<\/p>\n\n\n\n Then, evaluate the frequency of spending. This is one of the main criteria for deciding whether or not to issue your employees with a bank card. An employee who regularly visits suppliers, invites customers to restaurants, or travels to far-flung production sites would clearly benefit from a corporate card.<\/p>\n\n\n\n Depending on the corporate card provider you choose, you can customize a number of parameters. First, set daily, weekly, or monthly transaction limits<\/strong>. You can also set a maximum amount per transaction, if you feel this is necessary.<\/p>\n\n\n\n You can also control the day and time windows<\/strong> during which the card can be used<\/strong>. You are free to align card use with your office opening hours. On the other hand, if your employees attend trade fairs or conferences that straddle weekends, you can broaden the scope of authorization.<\/p>\n\n\n\n Certain corporate cards enable you to control your employees\u2019 spending even more precisely. For example, adopting merchant filters<\/strong> means that employees can only pay in certain stores. This is useful if you have partnerships with specific hotel chains or wholesalers.<\/p>\n\n\n\n Finally, you can activate or deactivate<\/strong> ATM withdrawals, foreign currency payments, and online payments.<\/p>\n\n\n\n Before paying with their corporate card, your employees must be informed of the terms and conditions of use and the rules to be respected. Make sure you define your expenditure policy in advance<\/strong>, and create a user charter to which they can refer.<\/p>\n\n\n\n Specifically, it must state that only professional expenses are to be incurred with the corporate card. It may also include points such as:<\/p>\n\n\n\n Like any other internal document or procedure, the charter will evolve. Plan to update it regularly in line with company practices.<\/p>\n\n\n\n One the charter has been drawn up, prepare a demonstration of the chosen solution<\/strong>, i.e., the card and related application. This can be in the form of a meeting or a video<\/strong> for new recruits to view.<\/p>\n\n\n\n During this exchange, invite your employees to customize their card and track their spending. They can define a PIN code and receive notifications of each transaction.<\/p>\n\n\n\n You can keep control of your finances while enabling your employees to be agile and autonomous in managing their professional purchases. This trust will encourage them to be vigilant, which is essential for detecting payment hacking.<\/p>\n\n\n\n2. Determine the criteria for issuing a bank card to your employees<\/h2>\n\n\n\n
<\/a>3. Customize your employees\u2019 corporate cards<\/h2>\n\n\n\n
<\/a>4. Create a user charter for your employees<\/h2>\n\n\n\n
<\/a>5. Encourage your employees to personalize their payment methods<\/h2>\n\n\n\n
6. Track your teams\u2019 payments in real time<\/h2>\n\n\n\n