There are more components to commercial card programs now than ever before, and corporate cards need to provide more benefits for their users than simply a payment method. While managing a card program may sound like a daunting task, the right blend of technology and platform support can help alleviate unwanted administrative headaches and set your company up for better future financial success.
Commercial card users and administrators are craving easy mobile systems, up-to-date technology and complimentary services and support to ensure their card program runs smoothly. Below are three key functions that can increase efficiency, eliminate risk and usher in a successful – and less stressful – commercial card program.
Simplify expense tracking
Too often, card users return from a business trip and realize they are missing a receipt for their expense report. Now, traveling employees can use an app to snap and store receipts for travel expenses instead of worrying about saving and submitting paper copies at the end of the trip.
Not only does this complimentary mobile solution make it easier for business travelers as they go about their busy day, but it eliminates a frequent challenge faced by program administrators.
Empower card program administrators
Many business travelers have experienced the panic when they exceed their credit limit while on the road. Through more advanced systems and new technology, program administrators can increase credit limits without going through the bank. This essential function will eliminate wait times and allow road warriors to still have access to their expense accounts for the remainder of their trip.
Solve the troubleshooting problem
Easy, straightforward troubleshooting solutions must be available to help customers resolve commercial card issues quickly and effectively. This feature decreases the lag time between issue and solution for the cardholder.
Beyond card user features such as mobile app support and the customer service number on the back of the card, tech-forward card platforms provide program administrators with a navigable library of resources and step-by-step tutorials to walk them through an array of platform capabilities from reporting and data analysis to employee administration and creating new cards.
As the payments ecosystem evolves with substantial growth in business card solutions, user experience, speed and ease of use are the most important factors to achieve stress-free, budget-friendly success.
If you are interested in learning more about how UMB can help your business as a financial partner, visit our website.