Choosing the Right Corporate Credit Card for Your Business

Choosing the right corporate credit card is a decision that can have a lasting impact on your business. Your employees will be spending money on behalf of your company, which means you need to make sure they're spending it wisely. A good credit card will allow you to manage your spending and keep track of expenses with ease, but there are a few things to consider when choosing a card:

1. Built-in expense management

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The first one is whether you need a card that comes with built-in expense management. No matter the size of your company, chances are, you've been on the receiving end of having to decipher some questionable expenses from employees who don't know how to keep track of their spending.  

A corporate credit card with built-in expense management helps ensure that you have better oversight over employee spending and more importantly, makes it easier for employees to document every expense. This is especially helpful if you're not able to oversee your employees' spending directly. It also cuts down one more unnecessary app your business would need to use in order to manage the business’s finances.  

2. User permission and access

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The second is knowing whether you’d like the autonomy to be able to instantly issue, pause, and cancel cards at any time. Enabling you to easily manage all your corporate credit cards on your own and in your own timeframes, without having to liaise with an account manager or fill in paperwork.  

A corporate credit card that has a user permission and access feature, will also allow you to set up permissions for each user based on their role within the organisation—so if an employee is only cleared for certain types of expenses (like office supplies or meals), they can access only those types of transactions.  

3. Spending limits and merchant restrictions

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Finally, another important factor when choosing a corporate credit card is how much control over spending limits and restrictions you’d like to have. If you want more control over these things, then it's probably best if you choose a card that enables you to implement spending limits and restrictions for merchants on every card. So that you’ll never worry about employees going over budget again, whilst protecting your business from having deductions made from unapproved vendors.

The right corporate credit card can be a powerful tool for your business. It's important to consider the features that will help you stay organised, reduce risk of fraud and charge backs, and ensure that expenses are documented properly.

Boasting all the above-mentioned features, Paytron's corporate credit cards will help you free up cashflow, implement detailed expense management, and gain more visibility and control over your business’ finance. Plus, with Paytron, you can unlock access to credit in as little as 24 hours with no personal guarantee.  

New to Paytron? Find out more about our corporate credit cards here and start your free trial today. Already an existing Paytron user? Apply for your corporate credit cards here.

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