Today we are proud to announce the launch of Emburse Cards for Abacus. Emburse Cards allow companies to issue virtual and physical cards to their employees right from within Abacus, giving companies real time control over expenses from the point of sale through reconciliation.
How Emburse Cards for Abacus Work
Emburse Cards is a card issuing tool that lives within Abacus. Businesses are able to instantly issue a virtual or physical card to their employees that draws from company funds. Administrators set granular spending rules for where, when and how much an employee can spend, preventing purchases at the point of sale that do not meet the policy.
Employees no longer need to make out-of-pocket purchases and layout their own money to then be reimbursed days or weeks later. In addition, traditionally, companies had to enforce the policy after a purchase was already made. So, if your employee spent $1,000 on a flight when your policy said the limit was $700, the company either needed to swallow the additional $300 or otherwise deny the additional expense.
With Emburse Cards for Abacus, companies can automate expense reconciliation immediately after a card is swiped. A notification is sent to the employee prompting them to add a receipt and submit the expense. By using custom routing and auto-approval rules, the expense is reconciled in real time.
Additional Card Features
Comprehensive Fraud Protection. With real time fraud detection, administrators of Abacus will get a notification immediately if something doesn’t look right.
Real Time Insights. Employees’ spend will be visible to administrators as soon as the card is swiped, providing the advantage of real time visibility to adjust budgets and spending rules accordingly.
Access from Mobile Wallet. Employees can add both virtual and physical Emburse Cards to Google or Apple mobile wallets for easy payments.
Direct Accounting Sync. Continuously sync expenses in either cash or accrual method directly into QuickBooks, Intacct, NetSuite, or Xero.
Improved Employee Experience. Give employees flexible options for their expenses with Emburse Cards or fast reimbursements.
Get Cash Back. Receive a percentage of cash back based on eligible transaction volume.
Abacus has always been focused on real time expense reporting allowing admins to have more control and visibility into their company spend. With the addition of Emburse Cards for Abacus, we are now able to make the expense reporting process even more efficient from the point of sale through reconciliation.
To learn more about Emburse Cards for Abacus, click here to request a demo or check out our product page here.