A Surprisingly Easy Way to Save Money, Raise Profits, and Simplify Operations
Any consultant worth their PowerPoint can tell you to leverage synergies, scale workflows, and reengineer processes. But if you want fast, real-world results you have to start with the easy wins.
If you’re using bank cards for employee and back office spending, you’d be hard pressed to find an easier win than PEX.
PEX customers report greater control over spending, 97% improvements in financial department efficiency, and huge cost savings. All without upending their business to implement a gaggle of buzzwords.
Here’s how PEX stacks up to bank cards.
| Bank Cards | PEX | |
| Real-time spend tracking and management | Yes | Yes |
| Charge Cards | Yes | Yes |
| Debit Cards | Card holders get access to ATMs and business checking accounts | Reloadable prepaid cards cap available cash and let you set spending controls |
| Cashback Rewards | Yes | Yes |
| Flexibility to distribute cards as needed | Limited | Give cards to employees, contractors, and others; no credit checks or signatures required |
| Spending Controls | Credit limits and some spending rules, credit cards only | Restrict spending to merchants, categories, amounts, days, times, and more on all cards |
| User Profiles | Any available controls must be set individually for each cardholder | Profiles let you define granular spending rules by role and assign users to that role with one click |
| Spending rule flexibility | Might need to contact bank to change credit limits | Instantly make spending rule and limit adjustments through through a web site or mobile app |
| Mobile app | Yes, with full account access to account balances and payment portals | Yes, with functionality limited to the privileges and needs of each individual user and administrator |
| Mobile account management | Check balances, pay bills, send wire transfers | Issue, enable, and disable cards; set spending rules; fund purchases — all admin functions |
| Vendor-specific virtual cards | Available with some credit card accounts. | Virtual cards can be prepaid debit or charge cards |
| Receipt capture | No | Yes, through user mobile app |
| Reporting and insights | Limited, usually transaction data sorted by merchant categories and dates | Reports can include budget, accounting-code, and other organization-specific data |
| Back office reconciliation | Card invoices must be compared to expense reports and receipts | All transaction data, including receipts, is automatically allocated to accounting codes |
| Integration with business software | No | Yes, including: QuickBooks, Google Sheets, & more |
Customers tell us that the reporting and integration features alone save them hundreds of hours a year. We also hear that the ability to easily distribute cards and control their use helps customers respond quickly to opportunities and serve customers.
How can the PEX solution help your business? Click here to schedule a free demo.
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Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).