Author: Janessa Goulet

Corporate cards should empower your team, not open the floodgates on company spending. But if you’re still relying on shared cards or static business card spending limits, you’re likely dealing with bloated approvals, manual reconciliation and a lot of crossed fingers at month end.

Smart spending limits are a finance leader’s secret weapon, especially when paired with credit card internal controls. Done right, they give teams the autonomy to act fast without blowing past budgets or losing visibility. 

Among the top five obstacles faced by Canadian businesses are rising inflation, debt costs and the cost of inputs—all driving up the urgency for proactive spend control.

This guide breaks down how to set effective business card spending limits, build compliance into your corporate credit card management process and use tools like Float to do it all without the admin burden.

Step 1: Determine eligibility

Not everyone needs a corporate card, but nearly everyone needs to spend company money at some point. The first step is rethinking what “having a card” means.

Float customers often issue $0 cards across the org. These aren’t blank cheques. They’re access cards. Employees can request spending as needed, and limits are only activated after approval. That means you can empower more team members without exposing the business to unnecessary risk.

Still want to keep things tighter? Prioritize card access for:

• Employees who travel frequently (sales, execs or field staff)
• Team leads with recurring budgets (marketing, ops or events)
• Anyone frequently submitting reimbursements

If a role involves regular purchasing, make it easier and faster with card access. And skip the painful pay-back process. 

Step 2: Define acceptable uses for business cards

Before you assign limits, clarify what the card is for. Clear spend categories are your first line of defence against corporate card misuse and will help lay the groundwork for streamlined spend control with company cards.

Start with the basics:

• Travel and lodging
• Client meals and events
• Recurring software or tools
• Approved subscriptions
• Marketing and ad spend

Float makes this even easier with category-specific cards. Want to make sure your Meta Ads budget doesn’t sneak into “miscellaneous”? Create a virtual card just for that vendor, set a monthly cap and automate the coding. If the vendor overcharges or your budget changes, you’ll know right away because the card will decline.

Setting expectations up front avoids awkward conversations later and builds accountability into the process.

Step 3: Establish appropriate business card spending limits

Here’s where most teams get stuck. How much is too much? Setting the right spending limit isn’t about playing gatekeeper. It’s about creating guardrails that give your team the freedom to move quickly, without sacrificing control, budget oversight or peace of mind. 

As your company grows, with more spenders and more transactions flying around, vague or inflated limits can quickly lead to policy breaches and reconciliation headaches.

This step is where your business card spending limits strategy becomes real. You can set corporate card limits by aligning them with actual business needs—by team, role or vendor—and keep things moving without losing track of where the money’s going.

Instead of fixed limits tied to job titles, modern finance teams take a dynamic approach:

• Frequent travellers get per-trip or per-month limits based on historical averages
• Vendor-specific cards match the monthly budget (for example, $20K/month on Google Ads)
• Occasional users request temporary limits as needed, with expiry dates built in

Float allows you to set default limits, enable spend requests and schedule automatic resets. For example, you might approve a $5K limit for a conference with an automatic drop back to $0 after the event.

Step 4: Implement internal controls and compliance measures

Every business credit card policy needs teeth, and ideally, automation. Float’s platform makes it easy to set submission rules (like mandatory receipts or GL codes) and approval workflows based on spend thresholds. That way, the right people sign off at the right time, before money goes out the door.

Want to avoid finance being the bottleneck for every $200 purchase? Route smaller approvals to team leads and save yourself for the big-ticket items. You can even run post-transaction reviews for additional oversight without slowing things down.

If someone fails to submit a receipt or explain a charge, Float can pause their card automatically until they catch up. These practical credit card internal controls are built-in.

Step 5: Utilize automation for enhanced card management

Here’s where Float earns its keep. Traditional cards force finance teams to manually update limits, monitor budgets and chase down documentation. 

Float automates all of that:

• Real-time notifications for spending and receipts
• Custom approval flows by team, spend type or amount
• Vendor-specific cards with auto-coding and category locks
• Expiring limits so temporary budgets don’t stick around

That means your team gets what they need quickly, and you keep full control without playing email ping-pong. It also reduces reconciliation headaches, improves month-end accuracy and frees up finance to focus on strategy over tracking down receipts.

Step 6: Monitor and adjust spending limits regularly

Set it and forget it doesn’t work when your company is scaling. As teams grow or budgets shift, it’s essential to set corporate card limits that adapt to the current business reality. 

Here’s what to watch for:

• Frequent declines may mean your limits are too low
• Unused cards or stale budgets suggest that overspending isn’t your real problem
• Make it a habit to pause or remove cards during employee turnover

Float makes it easy to spot stale cards, low limits or users who no longer need access, so you can keep things clean without digging through spreadsheets. You can review card activity, pause inactive users and adjust limits with a few clicks. 

Monthly or quarterly limit reviews help keep your corporate credit card management clean, relevant, and low risk.

Float: Implementing effective spending controls

Setting business card spending limits isn’t about micromanaging. It’s about enabling smart, strategic spend.

The right system gives your team the freedom to act without opening you up to risk. With Float, you can ditch static policies, clunky card-sharing and “Oops, who spent this?” moments for good.

You’ll have real-time visibility, automated guardrails and the flexibility to support every team without slowing them down. It’s spend control with company cards that work.

A smart first step is to eliminate the guesswork from your business credit card policy. Grab Float’s free expense policy template and get started today.

Traditional payment methods can be slow, opaque and hard to control, creating a recipe for delays, confusion and risk. That’s why more businesses are turning to on-demand virtual cards for a faster, safer way to manage company payments. 

If your business is still managing payments with shared corporate cards, clunky bank transfers, or—brace yourself—cheques, you’re not alone. But you’re also not moving at the pace your business needs. 

Unfortunately, your expenses are unlikely to decrease anytime soon. In fact, 30% of SMBs from Float’s SMB Financial Outlook report had increased their spending over the past six months. All the more reason to gain clarity around company spend.

In this article, we’ll break down what on-demand virtual cards are, how they work and why they’re a game-changer for Canadian businesses. 

Spoiler: there’s no sticky note with your CEO’s credit card number involved.

What are on-demand virtual cards?

On-demand virtual cards are exactly what they sound like: instantly generated, digital-only card numbers tied to a central corporate account. There’s no special setup needed for vendors. They work just like a regular credit card number that any vendor can accept.

These cards are designed for specific use cases such as booking travel, paying for ad campaigns or managing recurring SaaS subscriptions. Virtual cards simplify vendor transactions, prevent overspending and give finance teams control without the admin drag.

Think corporate cards with built-in controls designed for business payments. Each 16-digit card number is unique, can be used for one-time or recurring purchases, and comes with built-in controls like spend limits, expiry dates and merchant restrictions.

And since they’re virtual, there’s no waiting for plastic in the mail (or risking lost cards in someone’s desk drawer). You issue them as needed, pause or revoke them just as fast and never lose track of where your money’s going.

How do on-demand virtual cards work?​

Let’s gain a clear understanding of how a typical payment flow with virtual cards works by breaking it down step-by-step.

1. Request: A team member submits a spend request. Let’s say $500 for an upcoming event.

2. Approve: The request is automatically routed to the correct approver. Approvals can happen via email, Slack or directly in Float. No bank logins required.

3. Issue: Once approved, a virtual card is created instantly with built-in controls for merchant, amount and expiry as needed.

4. Spend: The employee uses the card like any credit card, either online or for recurring payments.

5. Reconcile: Float sends a prompt for receipts and auto-codes the expense. At month-end, reconciliation is more about reviewing than wrangling spreadsheets.

For finance teams, it’s a breath of fresh air. No bottlenecks, no chasing receipts and no last-minute Slack blasts asking, “Does anyone know what this charge is?”

Benefits for business payments

On-demand virtual cards solve some of the most persistent headaches in business payments, offering better security, real-time control and way less manual admin. You’ll pay vendors instantly and reliably, with no disruption to your supplier relationships.

Here’s what that looks like in practice.

Stronger security

Every virtual card has a unique number and can be restricted to a single vendor or category. That means if your Meta Ads card is compromised, you won’t have to scramble to update 14 other subscriptions tied to the same number. They’ll even decline overspending attempts automatically, so you don’t need to chase refunds after the fact.

And if something looks suspicious? Freeze or cancel the card in seconds without affecting any other spend. That’s a major upgrade in virtual cards security, especially compared to traditional shared cards or manual payment flows.

Greater control and visibility

With virtual cards, financial management becomes proactive instead of reactive. Finance teams gain real-time insight into where money is going, who’s spending it and why. You can issue cards with custom limits, set merchant rules or expire cards after a set period.

Unlike traditional plastic cards, virtual corporate cards can be issued instantly with built-in limits and expiry dates. Need to cap ad spend at $10,000 per month? Easy. Want to give a sales rep access to $2,000 for a client trip that expires Friday? Done. That level of granularity enables you to align spending with actual budgets, rather than relying on guesswork.

Streamlined reconciliation and cash flow

Because each card is tied to a specific purpose, coding and reconciling expenses become ridiculously easy. You can automatically match spend to POs or invoices, apply the correct GL codes and even flag outliers before they become problems—this type of virtual card automation results in fewer manual errors and more time spent on strategic tasks.

For growing businesses, this means cleaner books, faster month-end closes and better cash flow planning. Not to mention, you’ll see fewer emails that start with “Just following up again on this receipt.”

Key features to look for in an on-demand virtual card provider

Not all virtual card platforms are created equal. If you’re looking to upgrade your payment workflows, it’s worth finding a solution that not only digitizes your cards but also streamlines your financial operations. 

The right platform should take work off your plate, not just shift it around. For any business that handles recurring expenses, software subscriptions or B2B payments, virtual cards can bring order and oversight to spend.

If you’re evaluating platforms, here’s what to look for to find your finance team’s new favourite tool:

Ease of use and integration

Look for a platform that makes it dead simple to create, assign and manage cards in seconds. Even if you’re issuing dozens of cards, Float keeps things clean. Each card is tied to a user, purpose and budget, so nothing gets lost in the shuffle.

Bonus points if it integrates with your accounting tools or ERP to reduce double entry. You’ll want a platform that connects directly to your GL or gives you a custom export that’s plug-and-play. 

Robust controls

You want to control expenses before they occur. The right provider will let you set granular rules for each card, including amount, merchant, expiry date and even category restrictions. You can automate approvals by team or dollar amount, shifting decision-making to the people who hold the budget.

Reconciliation and reporting tools

Automation is key. Look for built-in features like receipt prompts, coding reminders and post-transaction reviews. From coding prompts to post-transaction reviews, virtual cards automation keeps spend compliant and finance workflows efficient.

Provider expertise

Choose a partner that understands the unique needs of Canadian businesses, and isn’t just another U.S.-based platform with a maple leaf added on. It’s built from the ground up with Canadian tax rules, workflows and financial realities in mind.

Float for faster, safer business payments

On-demand virtual cards aren’t just a shiny new tool. From controlling ad spend to managing vendor subscriptions or funding last-minute travel, they offer real-time flexibility without sacrificing control.

Float’s corporate cards combine speed, automation and smart virtual cards for financial management made easy. You get instant card creation, smart approval flows, airtight controls and seamless reconciliation designed for the way Canadian finance teams actually work. 

The right provider and rollout strategy could transform how you handle business payments forever. When it comes to virtual card security, control and compliance, Float gives you the tools to do it all, without slowing your team down.

If you’ve ever wondered whether your employees should keep putting business expenses on their own cards or whether it’s time to roll out corporate cards, this guide’s for you.

The decision of corporate cards vs. personal cards may not sound like an exciting debate. But this one decision can make or break your cash flow, stress levels and how many receipts you’re chasing late into the night at month-end. And if you’re still relying on reimbursements, you’re likely carrying more risk (and frustration) than you need to.

A lack of clarity in company spending and cash flow isn’t a rare issue. In fact, 30% of small businesses say they do not have good cash flow visibility and cannot predict potential problems. Having all of your spending on corporate cards that provide you more visibility into spending can be a huge first step in improving that cash flow visibility.

Here’s how to evaluate your readiness for a better solution for company spending, and just as importantly, how to switch.

What are corporate cards?

Corporate cards are company-issued credit cards that let employees make approved purchases on behalf of the business. Unlike personal credit cards, they’re tied to a central account and usually come with tools to control, track and report on spending.

Modern corporate cards like Float go a step further. You can issue physical or virtual cards with customizable limits, merchant restrictions and real-time visibility into every transaction.

There are typically two types of spend to consider:

• Corporate spend, such as software subscriptions, advertising or vendor payments
• Employee spend, such as travel, client lunches or office supplies

With the right controls in place, you can empower both types of spend while staying in control of your budget.

Corporate cards vs personal cards: When should employees use their own cards and request reimbursements?

For many small businesses, the debate around corporate cards vs personal cards often ends with employees using their personal cards and submitting reimbursements—it’s familiar, easy to set up, and can feel less risky.

There are a few scenarios in which reimbursements make sense:

• When the employee doesn’t have a corporate card yet. This could apply to new hires, as well as contractors or staff members who only incur business expenses on an infrequent basis.
• For a one-off or unexpected transaction. In situations where there isn’t enough time to get approval for a corporate card in advance, your best bet may be to use a personal card and get reimbursed.
• When the vendor only accepts cash, debit or a bank transfer. In cases where it’s just not possible to pay via credit card, reimbursement is often the way to go.

But here’s the catch: reimbursements from personal spending come with drawbacks. Employees are fronting company costs out of pocket, which can be a big burden if the expense is large or the repayment drags on. This model also leaves finance teams chasing receipts, sorting through manual submissions and dealing with unclear or delayed expense data.

And let’s be honest—most employees can’t (or would rather not) float the company hundreds or thousands of dollars while waiting for payday. Financial stress is a real thing, and they’re at work to reduce it, not ratchet it up.

Reimbursements can also hide spending issues until it’s too late for your team to do anything about it. By the time finance sees the expense, it’s already happened. That leaves little room to prevent duplicate charges, enforce business expense policies or catch fraud.

Corporate credit card benefits: When to choose corporate cards over reimbursements

Understanding the pros and cons of corporate cards vs personal cards is key as your business scales. Switching from personal cards to corporate cards streamlines expenses and helps you gain control, visibility, and agility as your business grows. A need can arise from having more team members on the road, a spike in marketing spend or an overloaded finance team. 

If your current process is slowing things down or creating tension with employees, that’s a clear sign you’ve outgrown it. And when these corporate credit card benefits start to sound appealing, you’re likely in a good spot to make a change.

Here are some benefits of implementing a corporate credit card solution.

Improved spend control and visibility

Corporate cards offer real-time data on spending, which is something you’ll never get with a lagging reimbursement process. With Float, you can set transaction limits, restrict merchant types and spot a rogue spend instantly. That means fewer surprises at month-end and faster, more informed decisions and running your business proactively instead of reactively.

Streamlined expense management solutions

When you control spending at the point of purchase, everything that follows gets easier. Receipts are attached automatically, transactions are categorized and your accounting system is updated faster, especially if you use Float’s direct integrations. No more cross-referencing spreadsheets, chasing paperwork or playing catch-up at month-end.

Enhanced employee experience and satisfaction

Giving employees corporate cards means they don’t have to dip into personal funds or wait for reimbursements while crossing their fingers. It’s one less stressor, especially for those without large credit limits or savings buffers. And because Float offers $0 balance cards with pre-approved spend, you can empower your team without giving up control.

Reduced risk of expense fraud and misuse

Many business owners worry about employees going rogue with company credit card usage. Preventing the misuse of company cards is important, but the real risk lies in not having controls in place. And if your team is spending on their personal card, it’s near impossible to put your own controls on the card. 

With Float, you can set category code restrictions, create temporary limits and even review transactions after they occur for full accountability. You get all the oversight of reimbursements, without the delay or administrative headache.

Implementing a corporate card program

You don’t have to wait for a problem to make the move. One of the best times to roll out a corporate card program is before your expense process breaks down. And as soon as you do, you’ll benefit from the practical advantages a corporate card program can offer.

Once you’re ready to move to corporate cards, a little planning upfront can make a big difference. Here are three handy steps to keep in mind.

1. Set clear goals and business expense policies

Start by defining what you want company credit card usage to achieve: better control, faster reconciliation or improved employee experience. Then build your expense policy around those goals. With the right rules and workflows, your card program becomes an extension of your financial strategy.

2. Use tools that scale with you

A modern solution that your business can grow with makes all the difference for your corporate card program. Float’s all-in-one spend platform offers cards, reimbursements and bill pay in a single solution. That means no more juggling tools that don’t talk to each other. You can start small and scale up without needing to rip out and replace systems later.

3. Lean on support and onboarding

You don’t have to go it alone with an expense management solution. Float’s implementation and support teams are there to guide you through setup, policy design and training, so you can roll out cards with confidence and clarity.

Float: Built-in guardrails for company spending

Reimbursements may have worked for a time, but they aren’t built to scale. As your business grows, so do the risks, delays and frustrations of relying on personal cards.

Float offers a smarter way forward with a corporate card program designed for better workflows. They improve control, speed up accounting, empower your employees and give you the real-time visibility you need to lead.

Still torn between personal cards and corporate cards? Don’t wait for your expense process to break when a smoother, more straightforward solution already exists.

Ready to make the switch? Explore how Float’s modern card platform can help.

Figuring out who should have a corporate credit card isn’t always straightforward. Should everyone get one? Just your exec team? What if your intern picks up a gift for a client?

This is where many small business owners may get stuck. And with 50% of small businesses already spending 10 to 40 hours per month on payments and reconciliation processes, adding more cards might seem like more work. However, thanks to modern tools that let you issue $0 limit cards with spending restrictions, it’s possible to empower employee spending while actually easing admin levels.

In this guide, we’ll help you cut through the confusion by breaking down how to decide who gets a corporate card and how to protect your business. We’ll also share what to look for in a business credit card management program that gives you full visibility, without creating headaches for finance teams.

Criteria for issuing corporate cards

The first step in corporate card issuance is to stop thinking about business credit cards the old-school way. You’re not handing out blank cheques or giving everyone several thousand dollars to burn through. With the right platform, every card can be customized for its purpose, right down to the dollar amount and merchant category.

So, who should get one?

Employees who frequently incur business expenses

Think client lunches, coffee runs and office supply pickups. You know, all those helpful purchases that keep clients happy, teams caffeinated and operations running smoothly. If someone regularly spends on behalf of the business, a corporate card streamlines the process and eliminates out-of-pocket costs.

Roles that require travel or client entertainment

These expenses tend to be ad hoc and time-sensitive. Instead of juggling reimbursements, give travelling employees a $0 limit card that gets funded per trip, with merchant restrictions that keep spending tight.

Positions with purchasing responsibilities

Think IT managing software subscriptions or operations staff buying supplies. In these cases, the person managing the service and completing the transaction may not be the budget owner. Assign the card accordingly.

Trusted, policy-aware employees

Even if someone’s role doesn’t scream cardholder, having the ability to request spend quickly (and within guardrails) can be a time-saver. A modern expense management solution (like Float) allows you to issue a card to every employee with significantly less risk. Limits and category restrictions ensure the tool fits the task, keeping everyone’s routine running smoothly without hiccups or frustrating delays.

The key isn’t to try to limit who gets a card, because with a better solution, anyone can have one. With the company credit card policy and frameworks in place, paired with a modern solution, all of your employees can have access to the spending they need within your guidelines.

Benefits of providing corporate cards

Trusting your team with corporate cards can feel daunting, but there are substantial payoffs ahead with minimal risk when implemented correctly. The most common corporate card benefits will positively impact your entire team. 

1. Smoother expense management

Employees stop dipping into their own money, and finance stops chasing receipts like they’ve taken up detective work as a side hustle. Corporate cards and employee expense accountability combined with streamlined expense management software create a win-win.

2. Instant spend visibility

Know where your money is going while it’s going, not a month later during reconciliation. This improves forecasting, budget tracking, and overall agility and minimizes risks.

3. Happier employees

Spare your team the awkward Slack conversations about covering a flight or hotel bill on their own card or waiting a month to get reimbursed. Corporate cards remove friction and create trust.

4. Built-in rewards

Every dollar you spend can earn cash back with Float, returning money to your business, not to someone’s Aeroplan account. Financial rewards can be a welcome cushion to buffer against ever-growing expenses.

5. Less manual work

Pre-approved spend, automated categorization, and real-time tracking are measurable corporate card benefits. These benefits lighten the load for your finance team and speed up your month-end close.

Risks and considerations

Worried someone’s going to quit and take their card on a farewell shopping spree? Totally fair, but also totally fixable. You’re not alone in these worries, but most concerns are rooted in outdated systems.

Modern platforms like Float flip that script with features that help to minimize risks of giving members of your team their own corporate cards, including:

• $0 balance cards ensure no one can spend unless you fund it first.
• Category restrictions prevent misuse (for example, a lunch card can’t be used at a spa).
• Temporary limits expire after a transaction or event, closing the window for misuse.
• Post-transaction reviews allow managers to audit spending easily, without micromanaging.

You also have more control than with reimbursements. With cards, you approve spending before it happens, not just hoping your team follows your company credit card policy and submitting corrections after the fact.

Still unsure? Float offers virtual corporate cards, onboarding support, and an implementation team to ensure you can confidently use the platform from day one.

How to select the right program to empower employee spending and employee corporate credit cards

The best corporate card program gives you flexibility and control, so you can enable spending where it’s needed and trim time from your month-end close.

Here’s what to look for:

Finely-tuned controls

Choose a provider that lets you issue physical or virtual corporate cards with precise spending rules per person, category and transaction.

Real-time expense tracking

The faster you see spend, the faster you can act to pivot strategy, catch fraud or spot trends. 

Accounting integrations

Solutions that integrate directly with Xero, QuickBooks and NetSuite (plus custom CSV exports) streamline your month-end close and reduce the need for manual entry and spreadsheet wrestling matches.

Unified platform

The fewer disconnected tools you use (cards here, reimbursements there and bill pay elsewhere), the less room there is for error, and the less time your team spends pulling reports and shuffling data around like a game of telephone.

Ultimately, you want a system that supports scale. Even if you’re starting small, issuing cards now with the right restrictions sets your team up for easier growth later.

Float: A smart solution for spending with control

Traditional views on corporate credit cards can leave businesses stuck in the past, and poorly prepared for what company spend actually looks like today. 

Float offers you more freedom in business credit card management, so you can focus on how you’d like cards to be used to support your business. With the right platform, you can equip employees with the tools they need to do their jobs while keeping your budget airtight and your processes clean.

Ready to give your team spending power, without the stress? Float gives you the power to hand out cards without breaking a sweat or your budget.  

In small startups or lean finance teams, employees using personal credit cards for business expenses can feel like a necessary evil. It’s quick, familiar and avoids the complexity of setting up corporate cards—at least for a while.

But as your business grows, so do the risks of mixing personal finances with business. What starts as a simple workaround can quietly create financial blind spots, employee friction and policy headaches. Personal cards seem easier until receipts go missing, reimbursements lag and someone’s chasing down records for a $1,000 steak dinner.

So, which is right for your business?

Let’s walk through the pros and cons of both options, as well as smart steps you can take to make the shift without overhauling everything.

Why credit cards are used for business expenses

As your business evolves, so will your financial needs. With things moving at a faster pace, it’s natural for more transactions to move towards credit  cards. In fact, monthly credit card spend has gone up 18% on average for small businesses in Canada over the past few years. 

As an owner, using a personal credit card for company expenses might feel convenient, but it can blur the lines between business and personal finances fast. And any additional balance you end up carrying could hurt your chances of gaining the personal credit you need, like a mortgage or car loan.

On the other hand, the biggest reason employees use personal cards is simple: they don’t have access to company funds when needed. This shows up most often in time-sensitive situations like grabbing office supplies, taking clients out for lunch or covering travel expenses on the fly.
In many companies, only a few senior leaders have corporate cards. So when something comes up unexpectedly, employees do what they can: they put it on their own cards and submit for reimbursement later.

Should you let employees use personal credit cards or explore a corporate credit card program? 

From an operations standpoint, letting employees use personal credit cards for business expenses might seem harmless. Until it snowballs into various levels of chaos. 

Can it work at the beginning? Sure. Is there usually a tipping point where it’s no longer the best idea? Definitely.

Using personal credit cards for business in Canada

Letting employees use personal cards does offer short-term advantages. No setup or new systems are required, and employees can access funds immediately if they have credit room. 

And employees certainly do like earning those sparkly personal reward points.

But those benefits don’t hold up under pressure at a growing business, and suddenly your “simple” system is eating your month-end close alive before you know it. 

Here’s where personal cards become a liability:

• Equity and access: Not every employee can afford to front expenses. It can be presumptuous to assume all staff have personal credit available, especially for large expenses like flights or hotel bookings.
• Delayed visibility: Finance teams don’t see the spend until the expense report comes in, which often means late, incomplete or unclear financial data.
• Reimbursement friction: Employees can be left floating thousands of dollars for weeks while they wait for approvals and payroll cycles.
• Illusion of control: Many finance leaders believe reimbursements encourage frugality. In reality, once the spend has happened, there’s little recourse beyond a stern conversation. Most expenses still get reimbursed, and the money still goes out the door.

Providing corporate credit cards for business expenses

On the other hand, corporate credit cards (especially modern ones) give finance teams actual control and oversight through:

• Pre-set spend limits by person, team or category
• Real-time visibility into purchases
• Automated integrations with spend management tools
• Easier, faster reconciliation and month-end close
• No financial burden on the employee
• Company benefits tied to rewards related to spending (cash back, anyone?)

Of course, corporate cards aren’t a magic fix. Some finance leaders worry that giving everyone access to company money invites misuse.  

However, that concern is fading with more modern corporate credit cards options.  Today’s tools make it possible to issue credit cards for business expenses with as little as zero balance, only funding them as needed with strict and customizable rules.

What finance leaders should do about company expense management

You don’t have to go from zero to 100 overnight. There are smart and manageable steps finance teams can take to move away from personal card use and toward a more efficient, equitable system:

1. Start small with high-impact teams

Roll out corporate cards to a specific group like the sales team, execs who travel often or operations staff handling frequent purchases. Focus on the team with the most frequent or high-dollar spend to make the biggest immediate difference.

2. Use zero-balance cards as a safeguard

Give employees cards with no preloaded funds. When they need to make a purchase, approved funds can be issued instantly. This creates access without risk and keeps finance firmly in control.

3. Build clear policies before scaling

Don’t wait until you’ve distributed cards to create an expense policy. Define what’s allowed, who approves it and what the guardrails are. The more clarity you provide up front, the fewer issues you’ll have down the road.

4. Prioritize education and support

Corporate card programs are only as effective as the communication around them. Help employees understand when and how to use their cards and what to do if something changes. You’re not restricting spending; you’re empowering them with the right tools to do their jobs.

5. Use tools that give real-time oversight

Pair your cards with expense management software that shows transactions as they happen, not after the fact. This gives you tighter control, easier audits and way less chasing after receipts.

6. Revisit and adjust as you grow

Don’t treat your first rollout as the final answer. As your company evolves, so will your needs. Periodically review your cardholders, limits and policy to make sure your program is scaling with you.

Float: Corporate cards with flexibility built right in

Using personal credit cards for business in Canada isn’t the only option for your team. Reimbursements might work in a pinch, but they don’t scale. Corporate credit cards can flip the script, especially when paired with the right tools and policies. They make company funds accessible without giving up control.

Ready to see how simple spend management can be?

Float makes it easy to issue cards with custom limits, track spend in real time and scale your program at your own pace.