How To Set Up A Corporate Credit Card Within The Company?

In recent years, more and more companies have started to opt for corporate cards . Indeed, many employees depreciate the expense report system for the reimbursement of their professional expenses because of all the formalities they must complete . To remedy this problem, entrepreneurs now offer their employees the use of the corporate bank card, which is a very advantageous solution . It not only facilitates the reimbursement of employees, but also optimizes the management of professional expenses. Have you also decided to adopt the corporate card in your business  ? It’s a very good decision.However, you should be aware that this will mean a transformation for your company and, therefore, will require effective project management. This is why we are providing you with this article which will show you all the steps to follow for setting up a corporate card program.

Above all, we first offer you a definition of the corporate credit card, since some people do not know anything about it. A corporate credit card is a professional payment card that a company issues to its employees for the payment of their professional expenses (business trips, hotel accommodation, restaurant bills, fuel or tolls, train tickets, etc.) . It is a credit card backed by a bank account opened in the name of the company. Thus, each professional expense made by an employee via his corporate card is directly debited from the account in question. The mode of operation of this card is no different from that of the classic payment card.Its particularity lies mainly in the fact that it can be configured according to the user .

Phase 3: Monitoring, Control, And Improvement Of The Corporate Card Program

The first step in setting up the corporate card program will be to negotiate the corporate card program with the service provider you have chosen. This negotiation will have to take several elements Iran Phone Number List into account, in particular the pricing conditions, the deferred debit period, the spending limits (normally, it is not up to the company to define the monthly spending limits, but rather to the bank according to the card but you can always modify the threshold of the ceiling after having discussed with your bank), the conditions of expenses abroad, the ancillary services(for example travel insurance and assistance). This is where you must also choose the account to which the corporate card will be linked. If you choose to back it to the company’s account, the responsibility for the transactions is yours.

Iran Phone Number List

Know that each of these options has its advantages and disadvantages. It’s up to you to see what suits you best. This first step in setting up a corporate credit card will then end with the issuance and signing. Of contracts with the card provider and with cardholders. Second phase: effective implementation of corporate credit cards and training of cardholders corporate card. This step is very important and constitutes the very core of the process of setting up corporate cards. It is broken down into several sub-steps that we will detail for you. Before implementation If you had already chosen in advance the employees who should hold the corporate credit cards, you will need to organize a communication campaign with them. The objectives of this campaign will be among others: Inform employees; Train in the use of corporate cards; etc. To be sure of succeeding in this task,

Second Phase: Effective Implementation Of Corporate Credit Cards And Training Of Cardholders

The latter will lead this campaign effectively. For this, it will be necessary to prepare the media will the corporate card program. This is very essential work for the success of this sub-phase. Also, consider distributing these materials throughout the company. It is essential to involve all departments in this internal communication campaign. During implementation, You must be accompanied by your corporate card provider during the actual implementation of the corporate card program. It has several roles to play: he will deliver the corporate cards to you; He will then assist you in integrating card data flows into the company’s.  ERP systems and into the management tools for dematerialized expense reports; It will help you configure the corporate cards (monitoring of expenses and consolidated views, management of ceilings and authorized suppliers). The communication campaign should continue in parallel with the implementation.

In reality, each stage of the implementation necessarily includes precise instructions to be provided. For example, employees must have information relating to the receipt of cards. The place of receipt, the procedure to follow for choosing the secret PIN code, etc. After implementation Once the corporate . The implementation has really taken place, the next challenge will be the training of stakeholders. When we speak of “stakeholders”, it is not just about corporate cardholders. But also all managers, administrators, travel managers. |Other employees involved in expense management procedures. It will necessary to ensure that all these actors benefit from good training.  This can have a negative impact on the implementation of corporate cards .

Leave a comment

Your email address will not be published.