If traveling for business by road, chances are employees will need to pay for fuel as well as other travel expenses. Do you have a plan in place for making these expenses effortless for your organization? Have you considered gas cards or a fleet card service? Many companies simply reimburse employee expenses, but that can be problematic for hourly employees who live paycheck to paycheck and it can be cumbersome for your company to cut checks. Often times it can be difficult to collect all the needed paperwork and receipts (link to chasing receipts). A better plan would be one that cuts operating process and makes travel easier.If you’re looking to save on fuel, you may consider a gas credit card.
However, this is usually only good for one brand of gas station and will require a separate card or cash for all other expenses. After all, employees also need a rental car, hotels and food. Fortunately, a Visa-branded prepaid business card can be a one-size-fits-all answer. You can have as many employee cards as needed and set up different spending rules for each. Funds can be added to the cards in real time and the control panel records all purchasing, making accounting easier and eliminating the need to process expense reports and cut checks. Because it’s a prepaid card, this credit crunch won’t slow down your business, giving you room to grow as fast as is feasible.
If you already use PEX Card, how has it helped you manage your travel expenses? And if you haven’t, what are you waiting for?
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.