Bento for Business is a spending management platform. Not a bank account in the traditional sense, it allows businesses unprecedented controls over who’s doing the spending, where the money goes (and doesn’t), and real-time automated reporting.
In this article, we’ll dive into some of the specific reasons that have led to the company’s rapid growth in the last eight years. (Also, why US Bank threw its hat in the Bento for Business ring late last year). Let’s begin!
More Control Over Spending Limits
Many credit cards for business do not allow the sort of strict controls that Bento for Business does. With this platform, you can set very specific spending limits for each cardholder. This could be a total limit, or it could be broken down by category.
For example, you may want to give your marketing team a monthly budget of $5,000, but only allow them to spend $500 on travel and entertainment. With Bento, you can easily set and adjust these limits in real-time, giving you much more control over your business finances. You can even control with whom (vendors) these funds are spent.
Another big selling point for Bento for Business is the fraud protection that they offer. With most business credit cards, if someone makes a fraudulent purchase, you are on the hook for the entire amount. You have a higher burden of proof than individuals often do with these credit card programs.
Not so with Bento because they offer what is essentially a fraud protection guarantee. If any unauthorized charges are made on your account, they will reimburse you in full.
This can be a huge relief for business owners who are worried about employee spending and the potential for fraud. It’s one less thing to worry about!
Easy Integration and Reporting
The corporate cards at Bento were built with integration and reporting in mind. The company’s platform has taken great strides in automating many of the repetitive tasks that go with data collection and reporting.
It starts with real-time access to transactions, easy-to-set daily spending limits, and automatic receipt capture. Business virtual credit cards even enable businesses to handle transactions without having to have a physical card handy. This further reduces the potential of abuse and allows generated data to be at its most reliable.
Make Faster Business Decisions With Bento For Business
As a business owner, you know that what you spend has a direct impact on your company. It’s the one thing you can control in good times and bad. It simply takes attention to detail and discipline. Bento for Business makes both of these factors easier to manage.
Using business debit cards through Bento for Business places you in complete control of spending limits, fraud protection, vendor relationships, and employee management. It’s a single solution for the multiple challenges that your businesses may face, in other words.
If you’re in the market for a new spending management solution, it’s worth considering. For more fintech and business tips, check out some of our additional posts!