If you are reading this, then it is likely that you either own a business, or work for one considering a new spend management software solution. Either way, you are in the right place! Here at University Fancards, we offer one of the easiest solutions on the market, Benjamin by Fancards, to streamline and simplify payments for companies with complex payment needs.
There are major benefits to implementing this type of solution. Below, we will illustrate a few general reasons why you should utilize a software solution.
Efficiency
Whether you are overseeing a small business, startup company or a powerhouse company, having a customizable and flexible spend management system reduces inefficiencies. Most companies manage their non-payroll expenses with an ad-hoc compilation of services, paper checks and cash. That can get expensive, lacks security and increases the amount of paper for receipts, approvals, purchase orders and so on. Having a tailored expense management system streamlines all of this to help business run smoother.
Reduce Costs
Having a system that is customized for your business can reduce costs in a number of ways. Paying for a single service to manage expenses instead of multiple is one way it could save money. However, even if your business is not currently paying for a software solution, there are more ways to save.
- Setting spending limits
- Approved/curated merchant category codes
- Quickly and easily shut off and replace lost and stolen cards
Save Time
Sure, this could fit within efficiency or cost savings, but the amount of time that can be saved by using expense management software can be a gamechanger. Our Benjamin system features bulk pay, which can load multiple card accounts at once in an instant. We also tailor reporting and alerts to make sure you are on top of company expenses without having to dedicate more time than necessary, freeing you up to move the needle in other areas. Some studies indicate that wasted time can cost most companies up to nearly $6,000 per employee annually.
We are really just scratching the surface on how much an expense management software provider can help your business. With Fancards Business Solutions and our Benjamin system, we can tailor it around your specific needs for payments and reporting. We can even offer a totally custom card design to provide another avenue of brand engagement between your employees and other stakeholders.
We have team members on standby to share more and show you how Benjamin by Fancards can help. Click below to read more about our features and to arrange a demo for your team.
