Working in the health and care industry can come with a range of challenges, especially in a world post-Covid. In particular, it can be difficult to manage expenses when you’re dealing with issues such as staff shortages, cash spending, and time-consuming receipt reconciliation. Equals Money is here to help save your health and care business time and money and take control of expense management with our prepaid company cards, mobile app, and online platform.
Keeping track of expenses can be a challenge for any business, regardless of industry. For businesses in health and care, spending can be spread across not only different departments, employees, and shift patterns, but different locations across multiple offices, clinics, surgeries, and more. The larger your team and more spread out your business, the more necessary a centralised expense management system is.
Additionally, using cash for ad-hoc or routine expenses can provide logistical difficulties and security risks, especially when spread across multiple work shifts or staff rotas. It’s hard to keep track of and takes away from visibility on spending habits, not to mention it decentralises how you manage your business’ expenses.
With Equals Money prepaid cards, mobile app, and our spend management platform, your health and care business can handle expenses without using cash and centralise spend management. Members of staff can go paperless – not only is this better for the environment, but it makes keeping track of spending that much easier. Our prepaid cards allow employees to access the platform or mobile app themselves, which means they can take spending into their own hands by requesting more funds when they’re running low or even checking their PIN if they’ve forgotten it. Managers or financial controllers can then respond to top-up requests, pause and block cards, block ATM withdrawals, and monitor set budgets.
With spending spread across multiple departments, individuals, and locations, transactions need to happen quickly and efficiently. With Equals Money cards for your business, you can get your staff their funds as soon as they need them. Order an unlimited number of prepaid business cards and send them wherever you need, ensuring that every member of staff that requires funds has access, with new or additional cards available for any future employees. You can also organise your expenses by department, so you get a better idea of who’s spending what, as well as the ability to set budgets by office, department, individual, and more, which limits any potential overspending. If your team is particularly widespread either geographically or by shift pattern, you don’t have to worry about managing their spending.
With the Equals Money online platform, staff can upload photos of receipts to our mobile app and annotate them to make reconciliation that much easier. Additionally, because employees can make purchases directly with their prepaid cards, you don’t have to worry about the hassle of reimbursements. Spending is clear, transparent, and accounted for – no matter the size of the purchase.
In addition to offering tailored solutions for expense management, with Equals Money you can simplify payroll and automatically process faster, secure batch payments. Get more from your spending simply by doing business as usual, with up to 3.5% cashback at a number of the UK’s top retailers. You’ll also have access to our friendly, UK-based customer service team and real human contact with your own personal account manager, who’s your point of contact if you ever have any questions, comments, or concerns about your Equals Money account.
Managing expenses for your business within the health and care industry can be a challenge. It doesn’t have to be. Get in touch with Equals Money today to see how we can make managing your business finances easier for you.
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