Managing Employee Expenses with Stampli Card

There are three main use cases for Stampli Credit Cards. Read more about Stampli Card for AP spend and paying your vendor invoices by Stampli Card. 

Managing employee expenses is critical for accounts payable teams, but is often fraught with challenges. Traditional expense management processes can lead to a lack of visibility and control, making it difficult to ensure transactions are compliant with company policies. AP teams also have to deal with an increased risk of fraud when credit cards are shared among departments or employees. The lack of integration with financial systems can create data silos and necessitate manual data entry, leading to inefficiencies and inaccuracies in expense data and financial reports. 

Additionally, employees may inadvertently exceed spending limits or make non-compliant purchases and the timing of expense report submissions can be unpredictable, causing delays in financial reporting and reconciliation. Matching expenses with receipts is a labor-intensive task, prone to human errors, especially if employees misplace receipts or delay submissions. All these factors contribute to inefficient expense report management and can lead to inaccuracies in financial statements. 

With Stampli Expense Cards you can streamline and transform the way your business handles employee expenses. 

With Stampli, you get an all-in-one system that automates Accounts Payable processes, employee expenses, and AP spend seamlessly. Our seamless integrations with 70+ ERPs ensures that all Stampli Card transactions are properly accounted for, eliminating the need for manual data entry and ensuring accurate financial reports. With greater visibility into transactions, Stampli expense cards allow for proactive monitoring and control over employee spending.

Stampli also offers a comprehensive set of controls for expense cards, ensuring efficient and secure transactions. Some key features include:

• New card approval workflows can be customized to align with company policies, ensuring only the employees who need a credit card receive a credit card. 
• Card usage can be restricted to certain usage types, like travel, helping you keep a tight grip on company credit card spend.
• Easily suspend or cancel cards for cardholders who do not submit expenses on time.
  

All of these controls are designed to provide AP teams with end-to-end management of all employee business purchases. 

For your employees, Stampli makes it easier than ever to manage their expenses. Our mobile app makes the immediate upload of receipts to the Receipt Library a breeze, helping to reduce the chances of lost or forgotten receipts. Receipts can be automatically matched to expense transactions and expenses can even be submitted automatically, speeding up the processing time and making life easier for both employees and your AP team. 

The different card types means employees get the flexibility of a corporate card while AP teams still have the control over employee spend that they need. 

• Employees can have either physical cards, great for employees who may not work at a typical office desk, or virtual cards, great for employees making online purchases. 
• Single-use expense cards can be created for employees making one off purchases, like a department manager buying a birthday cake. 
• Multi-use cards are perfect for employees making multiple purchases up to a certain budget, like an office manager restocking office supplies from multiple vendors. 
• Other card types and restrictions help provide maximum control over employee credit card spend. 

By providing enhanced visibility and control with a seamless ERP integration, Stampli Card simplifies the expense management process, making it more efficient, secure, and compliant. Whether you are exploring options to streamline your company’s expense management or seeking to maximize the potential of Stampli’s offerings, expense cards are an invaluable asset for any organization looking to modernize and optimize its expense management strategies.

Ready to upgrade your employee expenses? Talk to a Stampli expert today!

Learn more about Stampli Card for AP spend and paying your vendor invoices by Stampli Card.