Best Business Credit Cards
Best Business Credit Cards
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Experience the benefits of strong financial control
Whatever market your business operates in, current economic conditions dictate that one factor is common to its success: strong, focus financial control. If you’re running a small business, you should take immediate advantage of the increased control made possible by a business credit card account.
Reduce financial management burdens
By providing staff with cards on your business credit card account you can minimise the amount of cheques your business raises and the needs to have petty cash on the premises. They also can prove to be effective tools in minimising administration and the time spent reconciling expenses.
Help your staff make better use of chargeable time
Corporate charge cards help staff spend less time completing expense forms and more time concentrating on critical business activities.
Minimise the time administering expenses
Research carried out by the Henley Centre highlights the benefits of business card accounts. It not only reports that 95% of businesses using charge cards believe that they bring greater control over business spending, but also that business credit cardholders spend an average of 24% less time completing expense forms than non-business card account users.
One key feature of business credit card accounts is that you control the individual spending limits for each cardholder. The spending limit of each card can be set, changed or cancelled at any time. You can even specify limits on different types of spend.
All you expenditure is tallied on one account so there’s only one monthly payment to make. This helps ease cash flow through the business.
At the end of the tax year you’ll get a free annual management report that breaks down the entire year’s business expenditure by credit card and then category. You’ll have:
- types of spending clearly segmented
- breakdown for every business card on the account
- records of every individual card transaction
This type of detailed information also enables you to negotiate supplier discounts as you are able to see where the business is spending most money. So with this amount of insight, financial control will become integral to expense management.
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