Go Digital and Wave Goodbye to Petty Cash

 

Aren’t we all tired of the headaches that come with managing petty cash? At times it’s about requesting a cash advance for company expenses. Other times we have to pay using personal credit cards, then compile receipts to file manual claims. 

This old system has been rooted in every company,  resigning unhappy employees to the old pay-and-claim method. Let us walk you through a typical situation in companies that handle multiple projects. 

 

Manual Pay and Claims Processes Add to Administrative Burden

Natasha, Head of Projects, knows firsthand the challenges of petty cash management. From month to month she has to request funds for company expenses; at times paying with her personal credit card. Every month there is the manual process of retrieving documents for every expense, reconciling accounts and filing for approval. She has no better solution than to focus on these tasks. Taking up invaluable time that’s better spent on strategic decisions and project goals.

 

Accountability and Transparency Issues

The manual processes often lead to lost receipts, late submissions and discrepancies in financial reports, making it difficult to justify expenditures to her finance team. As such she has to regularly answer their queries on specific spend. Most days, her reimbursements are tied up in bottleneck approvals. Sometimes her personal claims are even rejected. 

 

Cash Carrying: A Security Concern

As someone responsible for company funds, Natasha is wary of the security risks associated with carrying physical cash. Occasionally she has to tote large amounts of cash, instigating a threat to her physical safety. And if the cash were truly lost or stolen in a nightmarish scenario, it could disrupt ongoing projects and even undermine her financial integrity.

 

Seamlessly Managing Expenses with Merchantrade Money Biz 

Now there’s an easier way to transform the way your business operates with Merchantrade Money Biz, a comprehensive solution powered by Visa Prepaid Business Cards. These corporate expense cards interconnect with a multi currency eWallet and expense management portal to help Malaysian businesses simplify their entire expense management processes! Here’s how it works.

 

Business Prepaid Cards: Reduced Hassle, More Hustle

In Natasha’s case, her company issues her a business prepaid card that allocates spend for events and travel related expenses. She can confidently make payments, bypassing the tedious fund requests and manual pay-and-claims processes. She saves valuable time that’s better spent on other project matters, and ensures her personal credit limit is not maxed out on company expenses!

 

Make More Informed Decisions with Digital Expense Tracking

Who’s got time to compile and examine paper receipts? Not finance, and definitely not Natasha. With the Merchantrade Money Biz solution, she simply uses the card for payments. It’s easy for finance to track expenses when all transactions are recorded in real-time on the expense management portal. 

 

Reduced Risks, Enhanced Card Security 

The business prepaid cards ensure that Natasha keeps her personal and work expenses separate. With the adoption of Merchantrade Money Biz, Natasha’s admin keeps funds secure in the master account, dispensing fund top-ups monthly or as needed to her corporate expense card. Her company is also able to access extensive card security settings to customize card usage for Natasha or other employees.

 

Go Digital with the Future of Expense Management

Merchantrade Money Biz is the game changer for petty cash and pay-and-claims problems. Because making business payments shouldn’t tie you up in knots. It’s time to simplify company expenses for both employees like Natasha, and finance teams. Make expense management easier, safer, and more efficient. Say goodbye to petty cash headaches and embrace free time on the weekends! 

 

Get a Business Account with us today.

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