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Redspark Technologies partnered with a fast-growing startup to develop Virtual Payment Cards, an integrated employee’s travel expense management platform. The startup needed to modernize and automate their employee spend management. The startup’s employee’s travel expense reporting and reimbursement process was manual and error-prone. Employees had to manually collect receipts, fill out spreadsheets, and wait for approvals and reimbursements. The finance team had to manually review and approve each report. There was no centralized visibility into employee spend. Redspark developed Virtual Payment Cards , a modular, cloud-based platform that connects employees, employers, finance and accounting. Key features include: Virtual Payment cards – Employees are issued virtual payment cards for business travel expenses. Limits are set based on the employee profile and trip type. Employees can request temporary limit increases. Automated approvals – Configurable rules route employee expense reports to managers for electronic approval. Analytics – Real-time reporting provides insights into employee spend by category, department, project, and more. Finance can monitor budgets and spend compliance. The startup was able to replace their manual employee expense reporting process with an automated, policy-driven platform. By partnering with Redspark, the startup was able to rapidly deploy an integrated employee’s travel expense management solution that delivered their ideal blend of automation, control, and insights. The startup plans to continue enhancing Virtual Payment Cards with new modules for travel booking, invoice management, and budgeting.
Virtual Payment Cards for Business Travel Expense Management
Project’s Overview
The Challenge
Business Goals
The Solution
Project Highlights
Technologies
Results
