The company’s new eMoney module lets employees select at the time of purchase which transactions are business-related, eliminating the need to manually enter details of a purchase before submitting an expenses claim.
Expenses tracking service Spendvision has added NFC payments tracking capabilities to its platform.
The new eMoney module is designed to make it easier for employees of businesses using Spendvision’s SaaS platform to record their expenses, regardless of the payment method used.
“Momentum is growing for services that enable consumers to purchase low value items by tapping their mobile phone or a prepaid card against a reader at the checkout,” says the company. “However, as more employees start buying goods and services in this way, enterprises are faced with significant challenges as they attempt to incorporate digital cash into the overall picture of corporate spend.”
“The new eMoney module will also help businesses to manage the split between private and business spending,” the company adds. “With the line between work and personal spend blurring, having a single mobile device or eMoney card is becoming the norm and it is vital that businesses are able to easily identify who needs to pay for what. Spendvision facilitates this by enabling employees to select which transactions are business-related on their card or device.”
“As employees increasingly begin to use ‘wave and pay’ technology to pay for anything from transport fares to newspapers, from refreshments to stationary supplies, businesses will need to find a way of incorporating these payments into the expenses mix,” explains Shane Bruhns, chief operating officer at Spendvision. “With so many low value transactions to be accounted for, the key to integrating them with other types of expense is to provide employees with a simple, quick way to log and manage all their payments, including eMoney. That’s exactly what our new module does.”
“Employees can simply manage transactions from their prepaid card or device alongside other expenses on a single platform that can be accessed anywhere and anytime. This eliminates the need to manually enter details of the transaction, improving accuracy and making the process much quicker and easier for employees and finance teams.”