Employer benefits

The benefits of using a business card for employers include:

Convenience - Cards are quicker to use than the company chequebook or cash.
Security - A stolen or lost card can be replaced, but that is not the same for cash.
Business payment cards in the UK are generally issued under global card schemes, and can therefore be used around the world – alleviating the need to obtain different currencies – but there is still a cost attached.
They are useful for everyday business expenses
They can also be used over the phone and online.
If you use them to cover business expenses, you don’t have to settle the bill immediately - you can benefit from an interest-free period depending on the card you use.
Enables employers to monitor expenditure - you can specify which employees receive cards and can normally set different credit limits for each card which will help you monitor expenditure.
A reduction in time and resources to process expense claims or purchase orders.
Statements can be provided electronically, and often online, or as a file that can be imported into your own financial systems.
Cards can be set up to provide better management information to identify most frequently used merchants, for example, a particular hotel chain, and which may help to negotiate a better deal for the future.
Purchasing and expense records are more accurate, with less opportunity for errors.
Some cards offer value-added incentives to your staff, such as medical and legal referral and insurance packages for travel.
Using a new business payment card responsibly can help to build up a business credit rating.

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