Why Did We Create KlearCard?
KlearCard was launched in 2019 with the goal of revolutionising the way businesses in Asia and the Middle East manage payments. Our Founders were fed up with corporate expenses, reimbursement processes, and being left out of pocket as employees, so they came up with the idea. KlearCard was created because there had to be a better method for businesses to monitor their expenditure.
KlearCard is an expenditure management tool that allows companies to give their employees prepaid cards. Each card includes pre-set and changeable spending limitations that may be adjusted by team, employee, and category type. Your accounting software automatically captures and reconciles all expenses. There will be no more manual receipts or out-of-pocket expenses for employees. We adhere to the most stringent security and data privacy requirements and are MAS compliant.
Virtual cards enable your team to pay for and manage all project or client expenses using a single card that they all have access to.
You can build spending wallets for each project or customer with KlearCard. Set spending limitations and restrictions on the types of purchases that are permitted.
Staff might request a top-up for urgent or one-time purchases that don’t comply with your spending policies. Admins can approve requests immediately through the app.
You can build spending wallets for each project or customer with KlearCard. Budget carefully for travel, software, client entertainment, and other expenses.
So Why Does Your Business Overspend?
Controls on spending are lacking : Giving teammates a blank check or access to your entire credit limit encourages them to spend beyond their means. A set spending limit establishes accountability and safeguards your money.
No visibility : Budget owners can’t concentrate on a goal they can’t see. Staff are left in the dark about how much they can spend right now while they wait for the month-end financials to close.
A lack of employee ownership : Staff spending is personal, but it may have a big influence on the firm as a whole if it gets out of hand. The opportunity for the entire team to see how much money is being spent fosters accountability and trust.
Finance Teams That Are Distracted : Finance employees spend their time on admin rather than developing your financial operations due to time-consuming reimbursement and expense processes.
Capture of receipts and invoices
When you use KlearCard to make a purchase or request approval, you’ll be asked to upload a photo or PDF of your receipt or invoice. These are then automatically synchronized with your accounting software and transactions page.
Source : www.klearcard.com