Vendor Management

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Top 7 Corporate Credit Card Management Software in 2024

Team Zluri

11th March, 2024

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Corporate credit card management is critical for organizations looking to improve financial transparency and control. Implementing a corporate credit card management solution also streamlines the reimbursement process, saving time and improving employee satisfaction. With numerous options available, organizations can choose the software that best fits their specific needs and budget.

Corporate credit card management software is a powerful tool that helps organizations manage their corporate cards and expenses more efficiently and streamlined. The software can help organizations track all the transactions made through corporate cards and provide valuable insights into spending patterns and trends.

It helps organizations streamline their expense management process and gain greater control over their spending. The key features include real-time tracking, automated reporting, fraud detection, and integration with accounting systems.

Features of Corporate Credit Card Management Software

Below mentioned are the various features of corporate credit card management tools.

• Expense tracking: Automatically tracks and categorizes all corporate credit card transactions in real-time, reducing manual data entry.

• User management: Control user access, set spending limits, and monitor user activity with advanced user management tools.

• Reconciliation: Automatically reconcile credit card transactions with vendor invoices and bank statements for accurate reporting.

• Reporting: Generate reports on spending by department, vendor, and cardholder to gain insights into spending patterns.

• Fraud detection: Advanced fraud detection algorithms and real-time alerts help identify and prevent fraudulent transactions.

• Integration: Integrates with popular accounting and ERP systems, allowing for seamless data exchange and real-time updates.

This article will offer you a list of alternatives that will provide advanced corporate credit card management capabilities.

Corporate Credit Card Management Software

Below, we have listed some of the most preferred credit card management software. 

0. Zluri

Zluri is a robust SaaS management platform that provides an all-in-one solution for managing SaaS apps. With Zluri, finance teams can streamline their SaaS expense management process and improve their financial control.

Zluri's centralized dashboard offers a clear overview of all the SaaS applications used in the organization, along with their respective costs. This allows finance teams to identify underutilized SaaS applications or not being used at all, resulting in cost savings for the organization.

Furthermore, Zluri's spend reports provide app-wise monthly reports, enabling finance teams to understand and analyze their spending patterns. You can also access insights on department vs. budget reports, empowering you to identify departments that are overspending and exceeding their budgets. 

With these reports, finance teams can make informed decisions and clearly understand their financial situation.

Additionally, Zluri's platform can track the various payment methods used to purchase SaaS apps in the organization, including credit cards and bank accounts. This enables finance teams to track their spending and control unnecessary expenses, improving overall financial control.

1. Volopay

Volopay provides a corporate credit card management platform. It offers robust features of providing virtual cards and effective reports. The tool provides two types of cards, one virtual card for one-time use and the other a recurring card for optimizing payment on subscription. 

Additionally, Volopay provides real-time visibility of when the card is swiped, and the admin can change policy whenever possible. The cards, whenever swiped, provide expense reports regularly. These expense reports are automatically triggered when a purchase is made, the bill is immediately recorded on the spend management platform. This will ensure effective tracking of spend across the platform. 

Pros

• The tool integrates with many corporate card programs, making it easy for businesses to manage their expenses

• It offers robust reporting capabilities, allowing businesses to track expenses and monitor spending easily

Cons

• It may not offer as much customization as other expense management software options, which could be a disadvantage for some businesses

2. Zoho

Zoho provides an expense management platform, ensuring every transaction is shown on the dashboard, and you can easily track any transaction summary. This platform shows how many active, inactive, and unassigned cards are available. 

IT admins can integrate Zoho expenses to corporate cards with your login credentials. Every data or feed will be automatically imported to Zoho Expense, which gives accuracy to the finance teams to review.

Additionally, with Zoho, IT admins can assign owners to the various corporate cards in organizations. Further, it automates the process of auto-scanning the receipts and lists of un expenses transactions which the finance teams can keep or exclude. It automatically generates an expense for corporate card feeds to be updated immediately.

Pros

• Zoho Expense integrates with other Zoho tools like Zoho Books, making it easy for businesses to manage their expenses in one place

• It automatically tracks expenses, reducing manual labor for employees

Cons

• It may not have reporting capabilities, restricting the users from getting data and making informed decisions

• It may not support all corporate credit card programs, limiting its usefulness for some businesses

3. Expensify

Expensify offers a corporate credit card management program that allows organizations to manage employee expenses, and track spending. It is linked with an expense management platform and provides real-time expense tracking, enabling automatic expense generated to the platform. 

The tool automates reimbursement for employees who want to submit expenses for reimbursement through the Expensify platform, which is later approved and processed. Finance teams can create policies by linking to companies' custom expense policies, ensuring all expenses made with cards are compliant.

Additionally, the tool allows organizations to generate reports and track employee expenses by category, employee, project, and more. This card helps streamline their expense management process and improves visibility into employee spending.

Pros

• It streamlines the expense reporting process by automatically tracking expenses and receipts

• The automated tracking and receipt capturing help to ensure that expenses are reported accurately

Cons

• It may not support all corporate credit card programs, which could limit its usefulness for some businesses

• The software may take some time to learn, especially for those unfamiliar with expense management software

4. Ramp

Ramp provides businesses with a complete solution for corporate credit card management. It makes it easy for businesses to track and manage their expenses, giving them complete control over their finances and improving their financial visibility.

The platform provides businesses with real-time insights into their spending, helping them to identify areas for improvement and to make more informed decisions about their finances.

Also, it provides businesses with robust security and compliance features. ​​The platform uses advanced encryption technology to protect sensitive financial information and complies with all relevant regulations and standards, helping businesses stay protected from fraud and other security risks.

Pros

• It provides a centralized platform for managing corporate credit card transactions, making it easier for companies to keep track of their spending and reconcile expenses

• It automatically generates expense reports based on transaction data, saving companies time and effort in tracking and reporting expenses

Cons

• The platform may be complex to learn and use, particularly for companies that are not familiar with corporate credit card management tools

• It may not integrate with all financial systems, limiting the functionality and usability of the platform for some companies

5. Stripe

Stripe is a leading B2B SaaS platform that offers a comprehensive corporate credit card management solution. The platform provides businesses with an easy and secure way to manage and track their corporate spending, ensuring they always control their finances.

Moreover, the platform uses advanced encryption technology to protect sensitive financial information, and its infrastructure is designed to be highly secure and reliable. This helps businesses to stay protected from fraud and other security risks and to ensure that their finances are always in good hands.

Pros

• Stripe integrates easily with most corporate systems, making it simple to start accepting credit card payments

• It uses industry-standard security measures to protect sensitive financial information and keep transactions secure

Cons

• The pricing structure for Stripe can be complex and difficult to understand, making it challenging for companies to budget for payment processing costs

• It offers email support, which may not be sufficient for companies with complex needs or a high volume of transactions

6. Brex

Brex is a financial technology company that offers corporate credit cards specifically designed for startups and high-growth companies. It offers a rewards program that gives cardholders cashback and rewards so both employees and the IT admin benefit. 

The rewards program is tailored for startups and high-growth companies, and you get rewards for software subscriptions, travel, and office expenses.

Further, the tool also offers real-time expense tracking and reporting and integrations with popular accounting and expense management software.

Pros

• Brex uses multi-layer security measures, including biometric authentication and real-time fraud detection, to ensure maximum protection of sensitive financial data

• It has a simple and intuitive interface, making it easy for employees to manage expenses and keep track of their spending

Cons

• It is more expensive compared to traditional corporate credit card solutions, which might not be suitable for small businesses

• It offers some customization options, making it difficult to fully customize the platform to meet the unique needs of each business

7. Airbase

Airbase provides a comprehensive solution for corporate credit card management. The software simplifies the processes of expense tracking, approval, and reporting for finance teams. The platform offers features such as corporate card management, bill payments, expense tracking, and automated accounting.

With Airbase, finance teams can easily track and manage expenses in real-time. The software automates the expense tracking process, reducing manual effort and saving time. This enables finance teams to focus on more strategic tasks, rather than spending time on administrative tasks.

Pros

• The platform allows managers to review and approve transactions in real-time, ensuring that expenses are in compliance with company policies

• It integrates with accounting software such as QuickBooks, Xero, and NetSuite. This allows finance teams to automate the accounting process, reducing manual data entry and the risk of errors

Cons

• The setup process for Airbase can be complex and time-consuming, particularly for organizations with a large number of employees, resulting in delays in the implementation process

About the author

Team Zluri

Team Zluri