US Bank has unveiled a spend management platform to help businesses monitor, track, and control their card-based spending.
The bank is rolling out the digital platform across its full portfolio of business banking credit cards in a move it says will give users an alternative to relying on multiple tools.
The tool is designed to help business owners drive down costs, reduce manual work, and save time through the use of card controls, integrated accounting, and intuitive receipt capture within a single, easy-to-use dashboard.
Users can monitor spending and set controls - for example, limiting employees to purchase only fuel at a gas station. In addition, they can turn employees' cards on and off with one click and assign cards to specific people or departments.
Shruti Patel, chief product officer for business banking, US Bank. “Within a single user-friendly interface, business owners can take control of their card spend and access continuous tracking with real-time visibility into spending habits and patterns, enabling them to monitor their cash flow and adjust their budgets accordingly."