Expensify, Inc., the easiest way to manage expenses, travel and corporate cards, has expanded Expensify Card spend rules to 14 countries. The company expanded availability to help businesses manage corporate card spending before transactions occur.
The new controls let administrators set spending policies for individual cards. They control where, when and how each card is used. This provides businesses with the opportunity to halt non-compliant transactions before the payment step.
In the past, many corporate card programs depended on post-purchase expense reviews. But Expensify has a different approach to card controls. When a transaction occurs, Expensify Card spend rules are enforced in real time.
Administrators can set up rules for spending ahead of time. And then the Expensify Card enforces those rules at the point of sale. This can help reduce unauthorized purchases and make expense management easier.
The company said businesses can set controls based on specific spending requirements. They also support recurring payments, one-off transactions, temporary projects and cross-border transactions.
Flexible Corporate Card Spending Limits
With Expensify Card spend rules, Admin can assign cards to be used for specific business purposes. Card Lock for Subscription Recurring SaaS Charges You can have a separate virtual card for every recurring software service. So the vendor is only allowed to charge approved spending to the designated card.
This configuration can also help to preserve subscriptions through staff changes. Subscriptions will continue in the event of a cardholder moving teams or leaving the company. No cards to replace or missed payments to worry about.
Admins can also generate virtual cards for one-time purchases. You can use these cards for things like event registrations or paying contractors. Businesses can set a maximum spend on each transaction. Expiration dates can be one of the controls. Companies can link a card to a specific trip, project or temporary assignment. The card expires at the end of the period indicated.
Administrators may also restrict purchases by merchant or spending category. For example, an office manager might use a card to purchase office supplies. But that same card could still be blocked from buying electronics. International spend can also be managed for cross-border businesses. Administrators can restrict cards to approved currencies. This helps companies avoid surprises or unauthorized charges internationally.
“Most corporate cards treat control as a review process after the money is gone,” said Jason Mills, Chief Product Officer at Expensify. “Spend rules flip that. You define exactly how each card can be used up front, and the Expensify Card enforces it at the point of sale, with no approvals to chase and no surprises to reconcile. It’s the most precise spend control on the market, and it’s now in the hands of businesses across 14 countries.”
Expensify Card Expands International Availability
The expanded Expensify Card spend rules are now live for businesses in 14 countries. Availability is North America and the European markets. The Expensify Card is available to businesses in the United States, United Kingdom, Ireland, and the Netherlands. The service is also available in Sweden, Denmark, Finland, Spain and Poland.
The card can also be used in Belgium, Luxembourg, Latvia, Lithuania and Gibraltar. The expansion gives businesses in these markets more proactive controls over corporate spending. Instead of auditing questionable expenses after they are incurred, administrators can place restrictions before purchases are made.
The move also strengthens Expensify’s position in the corporate card and expense management space. Firms still want more control over spending. At the same time, they need tools to cut down on administrative work.
Expensify’s solution to address both of these needs is to allow for spending policies to be applied at purchase. It blends virtual card controls with customizable spending rules. This enables businesses to manage corporate expenses more accurately.
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News Source: Businesswire.com
