Why Your Finance Department Should Believe In Ghost Cards

No doubt about it, ghost cards (shared corporate card accounts) can sound scary to finance professionals. They float around an organization with no individual accountability. Possibilities of fraud haunt every transaction, and reconciliation can be a nightmare. Yet sometimes shared cards are the fastest, simplest and, yes, most cost-effective way to support timely departmental purchases.…

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Building a Modernized Finance Organization: Forging the Path Ahead

The benefits of modern financial organizations are widely acknowledged within the construction industry: heightened efficiency, increased flexibility, and the ability to monitor activities in real-time, providing instant snapshots for stakeholders, managers, and auditors. However, implementing sudden, comprehensive changes in processes and technology can prove counterproductive. Modernization is a gradual journey that commences with a single…

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Make Deep Cuts Into Your Construction Company’s Cost of Fraud

It started with a corporate card and a bottle of Coke. Hot, thirsty, and waiting in line at the local branch of a major hardware chain, Paul saw the refrigerator full of soft drinks. Company policy dictated that Paul use the corporate card for supplies and pay for the soda out of his own pocket.…

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Is Your Financial Infrastructure Built for Resilience and Growth?

What kind of financial back office do you want? One that is so slow and methodical that it becomes an impediment to performance. Or one that’s so fast, smart, and resilient, it drives success? That’s a trick question. In today’s business environment, you don’t have a choice. Friction from slow, methodical processes can ripple through…

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Easy, Easier, and Easier Still: 7 Big Updates to PEX Software

At PEX, agile development means more than the methodical, iterative evolution of our digital platform. It means using your feedback to create software that streamlines processes, enhances flexibility, and makes your business more agile. Here are seven updates, four new and three under development, that will make your financial operations easy, easier, and easier still.…

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How PEX Leads the Way in April’s Financial Capability Month & Beyond

As we close out April, it’s crucial to shine a spotlight on the significance of this month: Financial Capability Month. This month prompts a reflection on the importance of financial literacy and empowerment. In an increasingly complex and diverse digital landscape, having the right tools and knowledge is essential. Enter PEX, the game-changing platform that…

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Bento for Business Closing: A Smooth Transition to PEX Ahead

Effective tomorrow, April 30th, Bento for Business is officially shutting down the ability to reload funds to you card and by June 25, all services in connection with this card program will be discontinued. But fear not, PEX is here to provide a seamless transition with a robust infrastructure and unwavering dedication to customer satisfaction.…

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How PEX Helps Middle Market Companies Beat Their Competition

Competing as a middle market company is getting harder. The National Center for the Middle Market reports that fewer companies expect growth in 2024 and the overall growth rate is expected to fall, too. There are almost as many reasons for this as there are pundits. Inflation. Credit tightening. Labor force participation. And of course,…

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5 AI Tools to Supercharge Your Back-Office Productivity Today

Oddly enough, the basic formula to improve back-office productivity hasn’t changed since the invention of the adding machine. More mental tasks offloaded to a machine equals more time to focus on critical business challenges. Computers lifted back-office productivity a thousand notches. Artificial Intelligence (AI) is lifting productivity another thousand or more. And though we’re early…

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Proactive Workforce Spend Management

Cut Costs and Streamline Operations with a New Approach to Corporate Card Expensing You can’t run a serious construction business without empowering employees to spend. If every bag of nails, tank of gas, or flat tire repair had to go through procurement, every job would come to a standstill. To facilitate that spending, many construction…

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