Though Salary and Benefits (S&B) are often the largest governable annual expense, the spending incurred by Travel and Expenses (T&E) often occupies second place for the majority of companies.
Such a high expense emphasises the importance of companies clarifying their travel expenses, focusing particularly on the risks posed by underperforming exchange rates and the loss of cash.
To counter these ricks, prepaid travel cards represent a versatile multi-currency solution, streamlining the operation of business travel and effective budgeting. Offering more tight security than cash, Chip and PIN travel cards are protected against the use of thieves and insurable.
Replacing travellers’ cheques and cash, conferring a prepaid travel card on traveling staff ensures a pre-planned understanding between employer and employee on budgeting requirements and spending locations. Usable at POS, ATMs, hotels, restaurants and car rentals, prepaid travel cards have already gained wide acceptance across the globe.
The benefits to the traveller extend to the team of financiers back at HQ. Resulting confusion or spending abuses from foreign expenses by wandering staff is reduced, with budgets clearly stated and receipts logged. These benefits lead to saved time when monthly expenses are counted up, with transparency effectively countering any potential fraud.
Back in foreign locals, those provided with a travel card are assured that they will not be impeded in their work by lack of funds due to administrative errors or delays. The integration of the cards with mobile applications also provides full run downs of transactions as well as the total balance to ensure the employee is aware of their spending.
Prepaid travellers’ cards offer even greater benefits for those employees working in countries with multiple currencies, multi-currency cards eliminate the hassle of constant cash exchange, and the pooling of useless penny change in unnecessary denominations. Allowing the quick transfer of unused money to different currencies on the one card, travellers’ cards offer unrivalled versatility.