A Surprisingly Easy Way to Save Money, Raise Profits, and Simplify Operations

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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 CardsPEX
Real-time spend tracking and managementYesYes
Charge CardsYesYes
Debit CardsCard holders get access to ATMs and business checking accountsReloadable prepaid cards cap available cash and let you set spending controls
Cashback RewardsYesYes
Flexibility to distribute cards as neededLimitedGive cards to employees, contractors, and others; no credit checks or signatures required
Spending ControlsCredit limits and some spending rules, credit cards onlyRestrict spending to merchants, categories, amounts, days, times, and more on all cards
User ProfilesAny available controls must be set individually for each cardholderProfiles let you define granular spending rules by role and assign users to that role with one click
Spending rule flexibilityMight need to contact bank to change credit limitsInstantly make spending rule and limit adjustments through through a web site or mobile app
Mobile appYes, with full account access to account balances and payment portalsYes, with functionality limited to the privileges and needs  of each individual user and administrator
Mobile account management Check balances, pay bills, send wire transfersIssue, enable, and disable cards; set spending rules; fund purchases — all admin functions
Vendor-specific virtual cardsAvailable with some credit card accounts.Virtual cards can be prepaid debit or charge cards
Receipt captureNoYes, through user mobile app
Reporting and insightsLimited, usually transaction data sorted by merchant categories and datesReports can include budget, accounting-code, and other organization-specific data
Back office reconciliationCard invoices must be compared to expense reports and receiptsAll transaction data, including receipts, is automatically allocated to accounting codes
Integration with business softwareNoYes, 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).