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Managing business expenses with crypto-backed corporate cards
Frank runs a start-up businesses focusing on Web3 projects. Managing business expenses such as business travel, advertisement exposure or subscription fees used to be slow and cumbersome for the finance team. It’s a struggle to track down each receipt, and it’s tough to assign and manage budgets in real time.
 
"We value the ideas and feelings of our employees, so we take active steps to mobilize their work enthusiasm."
 
The corporate card solution offered by iPeakoin helped Frank and his team to create customized cards to fit the needs for each employee and project in minutes, making expense management simple and efficient. With features like detailed spend controls, crypto enabling, Frank and his team have an unparalleled expense management experience.
 
Full control of business expenses
Previously, employees had to submit an expense claim and use their own credit cards for business expenses. And the finance manager had to spend hours reconciling each paper statement with the monthly expenses recorded in the system and then reimburse each employee.
 
In addition, because cryptocurrency is not as mainstream as fiat, most payments are still made in fiat currency. In this sense, Frank and his team could not make payments directly in cryptocurrency. Instead, they have to convert crypto into fiat.
 
While now, the iPeakoin Card allows Frank and his partners to create supplementary cards for each department or co-worker in his dashboard with different budgets, and the card can be used just like a general credit card. This means that team members don't have to bug managers for every transaction or pay with their own money first. More importantly, the iPeakoin card supports loads and reloads in both cryptocurrency and fiat.
The finance manager can always refer to the monthly spending of each department using the iPeakoin dashboard to adjust and forecast each department's budget.
With a corporate card, employees can make purchases for travel, office supplies, and other necessary expenses. These cards have higher spending limits and features like detailed expense reporting and the ability to set spending limits for each employee. Real-time transaction notifications keep the finance team up-to-date on the latest cash flows, payments and expenses, etc.
"Using a corporate card helps us simplify the expense management process and allows our employees to focus on their work without worrying about the hassle of managing receipts and expense reports."
 
Another feature of iPeakoin cards is that they can be used like gift cards to offer employee benefits.
 
For holidays or other perks, Frank can now create a card for employees with specific crypto or fiat currencies. Cardholders are then free to use the cards for any purchase that accepts Visa or Mastercard. "Traditional gift cards can only be loaded with fiat currency and can only be used on a single platform or website. The iPeakoin card, on the other hand, can be used anywhere. Employees are more likely to accept such a card as a perk because they can buy anything they want".
 
For the finance team, when it comes to the reimbursement process, the team can automate the financial processes and spend analysis, which is easy and moves completely online.
 
"Working with iPeakoin allows us to streamline the workflow with cutting-edge features. More time and money will be saved for business growth." Frank said.
 
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For more details, or just want to say hi, feel free to send us a note at marketing@ipeakoin.com.
iPeakoin is a licensed FinTech platform that drives the innovation of crypto payments. With a scalable Card-as-a-Service to bring crypto further into mainstream financial services, we help crypto businesses build stronger connections with end users.