Spend and manage business expenses with Open Expense Cards

We have to spend money to run daily business operations, don’t we? Spend money to earn money!

A business expense is the amount of money you spend on buying products, services or teams to run your business. It includes handling your offline purchases, online subscriptions, or managing your team spends for your business.

Hmm. Managing expenses is a headache. Isn’t it?

Every business has multiple expenses. For a business owner or manager, identifying, tracking and controlling those expenses can be very hard. Expense management does exactly that. It helps you to track, monitor and manage your expenses without exceeding your budget.
It will help you reduce costs and avoid unnecessary spends.

Oh, no! We all struggle with managing our personal expenses. Don’t we?
“I’ll not spend much from next month”- We have all been there. Still, it’s difficult to be in control of our expenses.

Think about managing the expenses of a group of employees trying to carry out business activities. People tend to use a mix of personal credit cards, cash, debit cards, and business cards to manage business finance. Sometimes, it becomes really hard to even trace back these spends, let alone manage those effectively.

Well, we do know the traditional way of bookkeeping, right?

It is no solution for modern fast paced business problems. Hence, organizations use a combination of multiple softwares, reimbursement processes, reminders and apps to track spends. But managing expenses this way becomes really difficult.

With Open, expense management is as simple as it could ever get!

You don’t have to use multiple apps and softwares anymore. Open provides a complete expense management solution to keep your expenses under control. Open Expense Management solution includes an Open Business Account, Open Cards and Open Money Dashboard.

Open Business Account is a business current account. It will help you perform and manage all your business transactions in one place.

Open Cards can be used to spend for business needs including day-to-day operations, subscriptions and team expenses.

With Open Dashboard, you can track, monitor and manage all your expenses at one place without having to use multiple accounts and apps.

When you sign up on Open Money,you get not only 1, but all 3 solutions together to manage your expenses.

Told you, with Open, expense management is as simple as it could ever get!

Banks don’t issue business credit cards to freelancers, startups and small businesses easily. Yes, you heard it right!

Even if they do, you will need to maintain FDs or minimum balances (which is not a meagre amount) to get a card issued. Hence, to pay for subscriptions, to handle international payments and to conduct business, startups and SMEs use personal credit cards of employers. Later it creates tons of problems while filing for taxes, managing compliances and even while tracking expenses.

With Open Cards, you don’t have to worry about these problems anymore!

Open Expense Cards! Excited already? Let’s see what they’re!

Open issues expense cards to users for managing their team expenses.
Open Expense Cards help you manage your daily expenses. If your team incurs day-to-day expenses such as food, travel, utility, fuel, toll and parking, but fail to report, track and monitor it properly, you need Open Expense Cards. With Open expense cards you can even eliminate the tedious reimbursement process from your system.

Well, Open Expense Card is interesting. Isn’t it? Let’s see how it could help your business.

Open Expense Cards is designed to manage daily expenses of your team.

For example, your sales team travels outside to close deals and they incur food, fuel and travel expenses on a daily basis. If your sales team is huge, it is not easy to track their spending. Also, the reimbursement processes are typically long and tiring. It is a hassle for employees to keep track of their expenses and bills. Similarly it’s not easy for employers to monitor the same. Remember, a happy sales team is inevitable for your growth. With Open expense cards now you can assign, spend, track and monitor your expenses easily. It offers transparency and scalability required for your business.

Cannot wait to know, right? We cannot wait to let you know either!

Open Expense Card is created for the spending and tracking of employees working in teams.
Often, employees have to spend money from their own pockets, submit bills, get approvals and later get their money reimbursed from the organization. It is a time consuming process and you have to maintain flux money every month. Besides, if you lose a bill or invoice, you cannot reclaim the expense.

Open Expense Card resolves this convoluted problem!

With Open, any employee in your organization can receive an expense card and swipe it to pay for charges. The expense cards are linked to Open Business Account and Open Dashboard. Hence, the spends will automatically reflect on the Business Account and you will receive a WhatsApp alert. You can now click a picture of the bill and send it on WhatsApp to the alert you received and it will get auto-uploaded to your Open Dashboard.

Yay! You don’t have to file and wait for reimbursements anymore!

It is a simple, and easy process. It can be done in less than 2 minutes!

Subscribe to Open > Complete E-KYC by authenticating PAN and Aadhar> Request for Open Expense Cards >Select how many cards you require for your team >Type in the shipping address >Apply.

It depends on the subscription package you have chosen.

Since you have a sales team that will incur daily expenses, you can apply for Open Expense Cards, with your Open Business account. You can give Open Expense Cards to your sales people and they can swipe it for their food, utility, fuel and other expenses. These cards will be linked to your Open Dashboard. From here, you can approve, track, and monitor all the expenses incurred by your team. By linking it to WhatsApp, you can eliminate manual reimbursements from your system. It will help you reduce cost and time loss.

When you subscribe to the Open Business account, you will receive access to our business banking account, Founder One card (default card with all Open Business Accounts) and dashboard where you can process and monitor your transactions. Besides, you can apply for Open Virtual Cards to manage all your subscriptions at one place.

If you are a freelancer, you don’t need to manage teams. However, you might have subscriptions to apps, softwares, platforms and clouds. You might also be conducting business internationally. In this case Open can help you with our FounderOne Card which is a credit & debit card that is integrated with the Open dashboard where you can monitor all your transactions.