Author: Shawn Qanun

Why Better Corporate Spending Starts With Strong Policies

Posted on by Shawn Qanun

They say if you follow all the rules, you miss out on all the fun. But when it comes to your financial policies, you’ll want to ensure your team knows every single one! 

The road to better corporate spending is always smoother when there are robust financial policies in place. They instantly map out expectations from every employee and link their actions directly to the bottom line. For startups in particular where growth is fast and expenses pile on quick, this is even more essential. These policies act as a bridge between your finance team and employees and formally outline the “boundaries” of corporate spending in your organization. When everyone is aligned on this, you can expect greater compliance, lower risk of expense fraud and a healthier spend culture.

It keeps everyone aligned on spending goals 💰

By formally outlining financial policies, it’s an opportunity to get employees aligned and informed on the larger financial goals of the company. These policies communicate key financial expectations related to the distribution and use of corporate cards, spending responsibility as well as transaction limits across all departments. ✅ They also help to clearly define roles when it comes to spend and expense management. Having these policies in place are especially important during onboarding as you can set expectations early on and build a healthy spend culture from the moment they join. 👍🏼

It enables greater oversight and spend control 👀

As your team grows and more corporate cards are assigned, it becomes even more critical to have financial guidelines for spending – especially from a risk management standpoint. With more people having access to corporate funds, greater oversight and control is needed. 

At Float, we take this one step further by allowing managers not only to create policies but to distribute corporate cards with predefined limits. Not only does this allow you to protect your business but it also empowers employees to make smart spending decisions in a fast and reliable way – without long approval wait times.

It can save time and money with the help of automation 🙌🏾

Setting financial policies eliminates a lot of frustration and wasted time – especially during critical times like month-end. When you add automation into the mix, it’s even easier! Smart spend software like ours at Float can help to promote your financial policies and encourage compliance through a range of key features. 🤩 For example, our receipt collection feature not only allows companies to set a standard for how they wish to track and manage daily transactions but it also holds employees accountable to their spending. Once a transaction is made, employees are instantly prompted to submit a photo of their receipt. 🤳🏻 And if they don’t, finance managers can auto-lock the card after a certain number of receipts are left unsubmitted. 


At Float, we empower startups and SMEs to establish financial policies, simplify complex processes and gain more visibility into company-wide spending. We want to ensure that you’re equipped with everything you need to grow your team, spend smarter and keep a pulse on your finances at all times. Book a demo with us today and learn how Float can help you!

Porta meets Float: A recipe for success

Posted on by Shawn Qanun

We sat down with Porta’s General Manager Jason Cassidy to discuss the company’s experience with Float since their launch back in November. Porta is a subscription-based direct-to-consumer Italian food distributor that sells freshly prepared and frozen Italian cuisine. Porta engaged Float in their earliest days out of their desire to set up and automate payments for their digital advertising platforms. From the get-go, Float has made life easy on this fast-moving startup. Here’s what Jason had to say.

Q1: How long have you been using Float and what made you choose us?

We’ve been using Float since our early days back in November 2021 when we first launched. Our marketing team was finding it challenging to pay for online advertising with multiple cards across multiple sites. It became a hurdle to manage and we knew we needed a better solution. When we expressed this to our external accounting firm, they immediately referred us to Float. We did our homework and were instantly amazed with everything they had to offer. Being able to set up multiple cards for different channels was a big selling point for us. As a busy startup just getting off the ground, the last thing we wanted to do was spend time searching for a corporate card let alone setting them up. Float’s software was quick, flexible and super effective. Their automation and reporting dashboard was also really straightforward and simple to use. We also got access to all of our virtual cards in less than 48 hours!

Q2: What were the biggest pain points that Float solved for your business?

Float gives us the peace of mind of not having to constantly think about processing payments for multiple vendors and partners. It allows us to focus on higher priority projects while knowing that our vendors are being paid from the capital we already have. The platform is also automated and secure, and in the event that we exceed our spend limit, the system is always updated and reloaded within 12 to 24 hours. Before using Float, I would email my accounts payable team and have them pay nearly 30 bills a day. We certainly don’t have the mental capacity and time to do this as we grow. Today, Float gives us greater control on corporate spending and fully executes all our payments with ease.

Q3: What did company spending and expense management look like before Float?

“Before Float, we were doing things more conventionally — sending payments to vendors through e-transfers and having to keep track of it all. Now, we’re taking a more dynamic approach as Float automates the entire process for us.”

Our total spend has increased since we started using Float. The platform has not only allowed us to keep up, but it’s been able to keep up with our changing needs too. We’re buying all day, everyday in the digital advertising space so having this kind of flexibility has been great for us. We needed an option that enabled us to set parameters on spending, automate meticulous tasks, while still being able to access the capital available in our accounts.

Q4: How has Float helped to streamline your processes? Which features are the most useful?

Float has made our spend and expense management process a lot more streamlined for us. We’re not paying for anything that we’re not aware of and we have full visibility over the money going in and out. We’re a small but growing team and Float plays a key role in our ability to continue expanding. We can quickly spin up virtual cards for our employees, set limitations and categorize them virtually – it’s a huge time-saver. If we sign a new partnership, I know I can easily create a credit card for that vendor in a matter of 30 seconds, which is perfect for the way we work. At the end of the day, Float has removed a lot of the complexities by automating the flow of approvals, speeding up card issuance and simplifying the payment process with vital partners on a daily basis.

“Float feels like a product that was built for the future and will continue to evolve as we grow as a business.”

Q5: What would you say to other companies that are considering working with Float?

“Float has the feel of a major financial institution, but they treat you as if you are vital to their success – and that’s something I believe many startups can appreciate.”

Float provides entrepreneurs and business owners a consistent and reliable platform to track and manage their spending with the flexibility to simplify and automate daily accounting tasks. It allows businesses to focus more on growth and less on the nitty gritty. If you have capital and you’re looking for an easy way to issue corporate cards to your team, I would consider giving them a try. The platform also streamlines well with any existing SaaS products your team may be using – which is a key benefit that eliminates so many headaches. 

About Porta

PORTA™ is Ontario’s first Italian meal delivery service that delivers restaurant-quality, authentic Italian dishes to your door that are freshly made, flash frozen and cooked in 15-minutes or less. Use code FLOAT30 to get $30 off your first PORTA order at www.eatporta.com

Closing Your Books Faster at Month End

Posted on by Shawn Qanun

Introduction

Many companies are frustrated by their inability to close their books efficiently at month-end. Employees’ misplaced receipts, ineffective software and lengthy credit card reconciliation processes are some of the challenges that financial teams encounter. Companies looking for a more effective way to control and monitor their spending should consider Float. Float ensures that your books are accurate and closed by month-end.

Automation

Float allows businesses to save time by eliminating the need to manually enter data and ease the minds for their finance teams. Companies no longer have to worry about expense reports because our software automatically gathers and matches receipts. Businesses can also set up spend guidelines for their employees, automatically pre-approve expenses and attach simple notifications anytime Float requires a receipt when a transaction is made.

Centralized platform for collaboration

Float has put together a collaborative platform that allows for immediate communication between departments. The team management feature allows businesses to build divisions and designate specific managers within Float, providing transparency and smarter spending habits for employees. TM features relieve the workload for finance managers by delegating controls to managers and securing key financial information for administrators.

Float also makes sure all data points and context have been centralized on the platform by categorizing transactions, making closing books month-end simpler. This includes:

  • Preprograming GL accounts to the cards at the time of a cards creation
  • Using merchant rules which automatically categorizes transactions 
  • Card users having the option of writing a description to provide context of purchase
  • Receipts being uploaded directly from card users
  • Bookkeepers having access to Float’s platform

Integration speeds up the process

Float has an adaptable platform and software that connects readily with other applications like Slack and Quickbooks, guaranteeing that books will close quicker. Companies can integrate specific financial software with Float, making work more effective and convenient for all teams involved. Another advantage is companies do not need to fight with downloading CSV files and uploading them to accounting software. It’s merely a matter of pressing a button. In fact, you’ll likely save 1 to 2 hours by using Float’s software.

Conclusion

Are you looking for a better way to manage your corporate spending and close your books faster? Book a demo with Float today.

Spring Cleaning Your Finances With Float

Posted on by Shawn Qanun

You know that feeling when you walk into a neat and tidy office with a desk clear of paperwork and nothing but the essentials? Well, the same goes for your expense management too. Here are some tips to help you clean up your internal processes, better track spending and eliminate the clutter of expense reports on your desktops this spring.

Clear your desk by ditching expense reports  📑

Expense reports are outdated, time-consuming and often the culprit of unnecessary paperwork piled on our desks. In the spirit of spring cleaning, introduce your finance team to automated expense software like Float – no more headaches or chasing employees for expense reports.  Virtually track company expenses in real time. ✅

Ctrl+Alt+Del the clutter of receipts  🖥

Your pockets, your desk, your drawers, your glove compartment – you’ve likely got receipts floating everywhere! But not if you’re tracking them virtually. Automated expense software simplifies managing those flailing receipts by moving everything neatly into the cloud. ☁️ Employees are instantly notified to submit receipts after making a purchase and finance managers can easily access and view these receipts at any given time. You might find your finance managers with more spring in their step, especially if they don’t have to chase anyone down.

Sweep responsibility over to managers 🧹

It’s time to give your finance manager a break this spring. Using Float’s Team Management (TM) feature, you can introduce multi-level approvals and give department managers more control over their team’s spending. TM provides finance managers with a clean picture of department spending and enables them to easily issue corporate cards with predefined limits to keep everyone on budget. By giving department managers more responsibility, this creates a much tidier and timely approval process for employee spend requests. 💁🏼‍♀️

It’s time to grow this spring 🌷

Consider how your company is tracking expenses and spending on a daily basis. 💸  Is your current process scalable? Are your teams bogged down by lengthy approval processes? Is finance completely losing their mind during tax season? 🤯 At Float, our automated expense software and corporate cards can give you greater visibility and control into real-fine spending, while serving as fertile ground for you to grow and scale. You can easily issue corporate cards to any employee who needs one in 3 days or less and you have access to your financials in real time to support sure-fire decision-making.

Book a demo with us today and we’ll have you fully integrated with Float just in time for spring! 🙌🏻

How To Build Business Credit in Canada: A Comprehensive Guide

Posted on by Shawn Qanun

Building business credit in Canada is crucial for entrepreneurs looking to grow their ventures. Whether you’re a startup or an established company, a strong corporate credit score can open doors to better financing options and business opportunities.

What is business credit?

It’s when a business is able to purchase goods and services and pay for them at a later date. You can build business credit over time by maintaining a solid track record of financial wellness in your company. When you have a strong credit rating, it becomes easier for a company to borrow money when they need it.

Why Business Credit Matters?

Building business credit is crucial for several reasons, supported by concrete statistics that highlight its impact on business operations and growth:

  1. Access to Funding: A strong business credit profile significantly improves a company’s chances of obtaining financing. According to the U.S. Small Business Administration (SBA), 27% of businesses reported they could not receive the funding they needed, which can be detrimental to growth and sustainability​ (SBA.gov)​. Businesses with established credit are 41% more likely to be approved for bank loans​ (Nav)​.
  2. Cost Savings: Good business credit can lead to lower interest rates on loans and better terms with suppliers. This translates to substantial savings over time. For instance, businesses with strong credit ratings often receive lower interest rates on loans, which can save thousands of dollars annually compared to those with weaker credit profiles​ (Nav)​.
  3. Cash Flow Management: Effective cash flow management is directly linked to business credit. Businesses that manage their cash flow well can maintain on-time payments, positively impacting their credit scores. Late payments can hurt credit scores, making it harder and more expensive to obtain credit in the future​ (Nav)​.
  4. Growth Opportunities: Access to credit allows businesses to invest in expansion opportunities. Whether it’s hiring more staff, purchasing inventory, or expanding facilities, credit availability can be a crucial factor in supporting business growth. According to Nav, nearly 73% of small firms used financing in the past 12 months to support their operations and growth​ (Nav)​.
  5. Business Survival and Success: Statistics show that businesses with better access to credit have higher survival rates. The SBA notes that almost 80% of businesses that started in 2014 survived until 2015, highlighting the importance of financial stability in the early stages​ (Nav)​.

By understanding and building business credit, companies can ensure they have the financial resources needed to support operations, manage cash flow effectively, and seize growth opportunities. For more detailed information, you can refer to resources from the U.S. Small Business Administration and Nav.

Steps to Build Business Credit in Canada

1. Establish Your Business Structure

To start building business credit, you need a proper business structure:

  • Register your business
  • Get a business number from the CRA
  • Open a business bank account

2. Apply for a Business Credit Card like Float

A business credit card is often the first step in establishing a credit history:

  • Choose a card that reports to business credit bureaus
  • Use it regularly for business expenses
  • Pay the balance in full each month

3. Work with Suppliers and Vendors

Building relationships with suppliers can help improve your business credit:

  • Set up trade credit accounts
  • Pay invoices on time or early
  • Ask suppliers to report your payments to credit bureaus

4. Monitor Your Business Credit Score

Keeping an eye on your corporate credit score is crucial:

  • Check your score regularly
  • Dispute any errors promptly
  • Understand what factors influence your score

5. Maintain Good Financial Habits

Consistency is key when it comes to improving business credit:

  • Pay all bills on time
  • Keep debt levels low
  • Maintain a positive cash flow

Common Mistakes to Avoid

When building business credit in Canada, steer clear of these pitfalls:

  • Mixing personal and business finances
  • Applying for too much credit too quickly
  • Ignoring errors on your credit report

FAQs

Q: How long does it take to build business credit in Canada? A: It typically takes 2-3 years to establish a solid business credit history.

Q: Can I build business credit without a business credit card? A: Yes, through trade credit with suppliers and other forms of business loans.

Q: How often should I check my business credit score? A: It’s recommended to check your score at least quarterly.

Q: Does my personal credit affect my business credit? A: For new businesses, personal credit may be considered, but established businesses are evaluated separately.

Q: If getting credit is so hard for a business, why not use your personal card? A: As a small business owner, separating your business credit from personal credit is key. When you use your personal card for business purchases, you’re actually missing out on an opportunity to build business credit. 💳  It also blurs the lines between business and personal expenses, which can be a big headache for your finance team during tax season.

In Conclusion: Building Business Credit is Important

Building business credit in Canada takes time and effort, but the benefits are well worth it. By following these steps and maintaining good financial habits, you can improve your business credit score and open up new opportunities for your company’s growth and success.

Float is Canada’s only all-in-one corporate cards, reimbursements, and bill pay platform that helps customers:

  • Earn cashback on all categories and save on FX
  • Generate 4% interest on funds held with Float
  • Eliminate expense reports and receipt chasing
  • Close the books 5x faster at the month-end

Want to learn how companies like Clutch, Neo, Knix, and 1,000s of other Canadian businesses on average save 7% of their monthly spend with Float? Get started with Float today by clicking the button below!

Learn About Float
Get Started for Free

Want to learn more before singing up? Book a demo today to learn more about the product from our team!

Giving Clutch a Better Way to Spend

Posted on by Shawn Qanun

We sat down with Ben, the Finance Manager at Clutch, Canada’s first online car-buying and vehicle trade-in platform, to discuss the company’s experience with Float. In 2022, Clutch’s finance team is leading with a mantra to “simplify and automate” with a company-wide goal to service up to 90% of Canadians in 2023 – and Float is helping them do just that. Here’s what Ben had to share about Clutch’s experience with Float.

Q: How long have you been using Float and why did you choose us?

“When I first joined Clutch, our credit card reconciliation process was extremely frustrating and time consuming. Today with Float, we’re on a 5-day close schedule at month end and can report to our execs in just 5 business days.”

We’ve been using Float since June 2021. Before, our team was using software that lacked efficiency and never really gave us a strong receipt management tool to reconcile our books. We were also limited to only 15 credit cards across the company or otherwise would incur additional fees. One thing about accounting in the automotive industry is that it’s very labour-intensive. It comes with a lot of invoices, P.Os and manual data entries and transactions, and at the rate we’re growing, it can easily get out of hand. By choosing Float, we’re able to quickly issue an unlimited number of cards to our growing base of employees. Out of 200 employees, 120 were able to get Float cards – everyone who needs a card now has one. This has really helped our day-to-day operations as it’s given our employees greater autonomy to spend and make decisions.

Q: What were the biggest pain points that Float solved for your business?

“Float gave us the final source of truth to reconcile our accounting and it only takes 5 minutes – whereas before it took the whole day.”

From an accounting perspective, Float has made our lives a whole lot easier. Before, employees were uploading receipts in group chats and the accounting team would manually punch them in at month end. We had a 10%-to-15% margin of error and oftentimes didn’t even have the right receipts. Today with Float, we’re able to get a clear snapshot of all transactions made in real time and have seen a significant decrease in errors. Employees are also empowered to upload receipts all on their own and provide descriptions of transactions, while accounting is able to track everything and identify any discrepancies. 

“Being able to put accountability on spenders to attach receipts to specific transactions made our expense management a whole lot easier.”

A great thing about Float is that we can now keep up with our credit card transactions on a day-to-day basis. We’re able to download easily digestible reports with all the information we need and it’s all integrated within our external systems. Before, our accounting team would spend the entire day reconciling all of our credit cards. Just eight months ago, we were operating at a tenth of the scale that we’re operating now. If we were to continue under our old process, we would have to hire additional people to handle this. Obviously that’s not efficient and scalable – which is exactly why we turned to Float.

Q: What was the best part about working with Float?

Fast & easy onboarding

It only took a few days to familiarize ourselves with the software. After that, we were able to hit the ground running and get everyone set up with a Float card. It really didn’t feel like we lost a whole lot of time, and we quickly made up for the time spent on implementation just from the efficiency we gained.

Enhanced the platform based on our needs

Float took our feedback in stride and used it in their next product launch. There were a few unique things that we wanted to see in our credit card platform and they were on it right away. One thing we really wanted was a mass download receipt option so that we didn’t have to manually input 3,000 transactions a month. When Float added this simple button to the platform, it easily saved us 20 hours over the course of a month.

Q: How has Float helped your business scale and grow?

With our previous provider, we only had 15 credit cards, which wasn’t sustainable at the rate we were growing. Giving new employees access to a company credit card with no spending limit obviously subjected us to a lot of risk. Being able to issue Float cards to employees with specific limits and having the flexibility to adjust them, reduces our risk exposure significantly and allows us to better track how money is being spent in the company.

There’s so much movement in our production facilities every single day, we needed the agility of a credit card that the right people could access – which is exactly what Float provided. We would not have been able to keep up with the level of Clutch’s scale growth in 2021 without Float.

About Clutch

Clutch is on a mission to reinvent the way Canadians buy and sell cars. Founded in 2016, Clutch’s vertically-integrated business model is modernizing the auto market, giving customers a smarter and easier alternative – all through the click of a button. 

If you’re quickly scaling or looking to automate and improve the way your company spends, book a demo with our team to learn more!

About Float

Float is Canada’s only all-in-one corporate cards, reimbursements, and bill pay platform that helps customers:

  • Earn cashback on all categories and save on FX
  • Generate 4% interest on funds held with Float
  • Eliminate expense reports and receipt chasing
  • Close the books 5x faster at the month-end

Want to learn how companies like Clutch, Neo, Knix, and 1,000s of other Canadian businesses on average save 7% of their monthly spend with Float? Get started with Float today by clicking the button below!

Learn About Float
Get Started for Free

Want to learn more before singing up? Book a demo today to learn more about the product from our team!

A Few Ways To Show Some Love To Your Finance Team

Posted on by Shawn Qanun

Your finance team is focused on managing corporate spend, budgets and receipts on a daily basis. They are the fuel that keeps the company running smoothly and one of the most important departments in the fold. And, if you’re a new startup, it may just be that one special person who takes care of it all. 💸 🙋🏼‍♂️
If your finance team or accountant looks like they’re running on empty, here’s how you can show them some extra TLC this month. 💙

A simple ‘thank you’ goes a long way 🥰

Post a sticky note on their desk, send them a Slack message or write up a quick email expressing how appreciative you are for their hard work. 🙏🏽   Even the smallest of gestures can make a big difference.

Get on their good side. Submit receipts on time. 🧾

There’s nothing your finance team dreams of more than a stress-free month-end. ✅  One way to make their lives easier is by staying organized and submitting your receipts on time. This will save your finance department all of the stress and headaches they often endure while having to chase employees down for those last minute receipts. 🏃🏼‍♀️

Send them a sweet treat 🍦

See where you can extend your corporate budget and send a well-deserved treat to your finance team. Whether it’s some much-needed caffeine or a team lunch, the best way to anyone’s is through their stomach.🍕 🥗 ☕️

Win their heart with Float 💘

This will be love at first sight. 😍  Float’s platform simplifies and automates the entire spend management process that will make any finance team fall in love…fast.

  • All expenses are organized and tracked in real time, all in one place 👍🏼
  • Save time and say goodbye to expense reports 🎉
  • Easily issue corporate cards to any employee who needs one 💳
  • Gain greater visibility into company and team spending 👀
  • Employees are notified to submit receipts after every business purchase 🧾

Diffuse month-end anxiety and show your finance team some love with Float. Book a demo with Float today. Your accountant will love you for it. 😍

Why You Need a Better Way to Track Employee Receipts

Posted on by Shawn Qanun

Keeping up with your corporate expenses can be a total nightmare but it doesn’t have to be. In fact, 15% of all Canadian SMEs have found tracking expenses and reconciling their books to be a major challenge. If your team is growing, there’s a good chance your expenses are too, which means getting a handle on your expense management is key. Finding a better way to track and manage corporate spending can save you thousands of dollars a year – and we’re here to let you in on the solution. 

It pays to keep track.

Canada Revenue Agency requires Canadian businesses to keep records of all transactions to support their income and corporate expense claims. Companies can claim tax deductions on expenses, but only if they have a valid proof of purchase and can prove it was a business expense. How can they do this? 🤔  By providing a receipt. 🧾  
If your corporate receipts aren’t organized or properly submitted, you won’t be able to use these expenses as a tax reduction, which means less money back in your pocket come tax season. That’s why companies need to invest in the proper tools to enable managers to easily collect and record receipts from employees all year round. This will help them easily track their expenses and have a better picture of where their money is going, who is spending it and why. When it comes time to file taxes, you’ll feel like a major weight is lifted off your shoulder!

Automate & Celebrate! 🤩

Let those piles of receipts and chasing employees down be a distant memory of the past. 👋🏽 Not only is it annoying and inefficient, but it just makes things more difficult than they need to be. We have a better way with Float. Our innovative expense software and corporate cards automate this entire process, helping companies easily track employee purchases in real time while eliminating all of the headaches and paperwork that come with it. When purchases are made using a Float card, employees are instantly notified to submit a digital receipt so that your finance team has everything they need to review expenses, manage budgets and easily claim tax deductions. Float not only helps teams save hours in expense management every month, but we also give you back control over corporate spending in your organization. Not to mention, keeping financial records in the cloud has proven to be safer and more secure – and good for our planet. 💚 If there is any damage such as a fire or flooding in the office, you can ensure that everything is protecting, floating in the cloud!

We’ve got you covered.

Our platform collects your receipts so that you don’t have to – leaving extra space in your filing cabinets and less stress on your mind. With Float, you can: 

Get started fast with our simple set-up & onboarding 🚀

Quickly and easily reconcile your books ⚡️

Track business purchases in real time 💸

Create financial policies for all employees to follow 👍🏾

Instantly notify employees to submit receipts after a transaction 🧾

Set spending limits & approve spend requests in seconds ⏰

Collect and review key financial data all in one place ✅

Are you ready to introduce smarter, more efficient financial processes in your business? Book a demo with Float today!

3 Signs Your Team is Ready For a Float Card

Posted on by Shawn Qanun

Is your company experiencing rapid growth this new year? Does your organization host monthly seminars? Are you planning to accelerate your marketing efforts in 2022? As you grow, expenses only pile up and in order to stay afloat (no pun intended😉) one major way to streamline is increasing the number of corporate cards floating in your organization. 

Here are three signs that your company is ready to introduce Float cards.

1. You’re a fast-growing company with multiple departments🚀

If your team is growing that means more employees are spending and you have more expenses to keep track of. A great way to get a handle on this is by issuing corporate cards within your departments with an automated system to manage it all. At Float, our latest and greatest feature Team Management takes team spending to a whole new level.⬆️ It allows organizations to easily issue corporate cards across all departments and makes it easier to empower smarter spending within teams. Managers gain greater control and visibility over departmental spending with the authority to set predefined budgets, distribute corporate cards 💳 and approve spend requests in real time.🤩

If you’re worried about getting approved for corporate credit cards, don’t fret. At Float, we eliminate all the time-consuming processes you’d experience at the bank by issuing and delivering your cards in less than 3 days! Yes, you read that correctly.😉 Float wastes no time when it comes to helping fast-growing companies spend smarter!

2. You’re dreaming of a healthier spend culture.💭

At Float, we’re in the business of making your spending dreams reality.💫 By making it easier to issue corporate cards to employees, startups can empower their teams and give them the autonomy to make valuable spending decisions. It’s a positive demonstration of trust with employees and allows them to act quickly and be more innovative in their daily projects.

With all of these cards floating around, finance managers can rest assured. All Float cards are connected to our smart spend software, which effectively tracks and organizes all purchases in real time. In addition, for each individual card, managers have the ability to create spend controls for specific categories, departments and employees to limit and monitor company-wide spending

3. You want more efficiency in your operations ✅

Ditch the expense reports once and for all. And while you’re at it, you can stop chasing down employees for receipts. If your company is looking to bring more efficiency to expense management, Float can simplify your daily accounting tasks and automate the entire process by  collecting all your financial data in one place in real time. It removes all of the manual labour and saves you from long hours spent filtering through paper receipts from the entire year. Imagine that. Not to mention, Float cards give employees the freedom to make purchasing decisions faster, without being bogged down by long wait times for management to approve transactions and spend requests. 


If your team is on a clear path to growth and there are no signs of slowing down, keep the momentum going with Float’s corporate cards. Book a demo today and experience what it’s like to spend smarter with Float!

A First-Class Ticket to Managing Corporate Travel Expenses

Posted on by Shawn Qanun

Most people can agree that getting a handle on travel expenses without a good system in place can feel like walking in the dark with no flashlight. The good news is that Float has a first-class ticket for any organization to successfully manage corporate travel expenses, providing simple solutions to these common headaches. 🙌🏼

❌  Unclear and inconsistent travel expense policies 🤷🏼‍♂️

✅  Float helps you create simple financial policies for the entire company 👫👫

More often than not, expense policies for travel are not always clear. When employees don’t know what falls under an acceptable travel purchase, they have no way of avoiding issues when it comes time to submit expenses. Ensuring employees are aligned can make the paper trail a lot more smooth for finance teams. At Float, our software allows managers to create clear spending policies company-wide so employees are aligned on expectations before and during travel. Managers can also set category limits that every employee can understand and abide by to avoid exceeding travel budgets.

❌  Poor visibility over travel spending across the company 😧

✅  Float gives you a clear picture of travel spending 🔎

Does your finance team know the average daily cost of employee meals during business travels? 🥗  What about the average cost of transportation? 🚕  Most companies don’t have this information at their disposal and are often shooting in the dark when it comes to budgeting for business trips. They have no way of measuring or anticipating how much an employee is going to spend and thus are unable to set clear limits to stay on budget. 

With Float, finance teams can see all transactions being made in real time while employees are travelling ​​– providing key insights into the average costs of food, transportation, lodging and other business travel expenses. This real-time data is critical in helping finance teams and managers set department budgets for business travel in the future with appropriate spending limits for each category.

❌  Inefficient and time-consuming processes 👎🏼

✅  Float cuts expense reports with full automation ✂️

Manual expense processes are time-consuming and make it 10x harder to manage transactions ​​– and when employees are abroad, it can create even more headaches. Ditch the spreadsheets and paper receipts and automate the process with Float. We make it possible to record business expenses in real time, instantly notifying employees to submit their receipts upon every purchase. This has been a gamechanger for companies with employees travelling across the globe. So if your sales team is in Montreal from Tuesday to Wednesday and then in New York Wednesday to Friday, every purchase they make will be approved and recorded in a matter of seconds, all in one place.

❌  Delayed employee reimbursement ⏳

✅  ​​Get instant access to funds during business travel with Float  💳

No manager or employee wants to use their personal credit card during business travel let alone wait for reimbursement. It causes added stress to employees having to use their own money (not to mention waiting to get it back), while complicating expense management with piles of receipts for finance teams to sort through. 🤯 


Is your head exploding yet? Don’t worry, we’ve got an app for that. Our smart spend software along with Float’s physical and virtual cards enable companies to issue an unlimited number of corporate cards to employees in under 3 days. That’s right ​​– no more personal cards during business travel ever again.🕺🏻 So if your marketing team is off to Chicago for a conference, you can easily issue cards for all employees attending, set a spending limit and make each of them valid for the duration of the trip only. This makes it easier for employees to access corporate funds and spend during business travel, while simplifying the process for finance teams by no longer having to reimburse employees and chase them down for receipts.

Take off with Float ✈️

If your teams are travelling often, then Float should be one of the first things on your packing list! 🧳  Our smart automation spend software alongside our corporate cards simplifies corporate travel expense management, saving companies valuable time, energy and money. Float helps you understand where your money is coming and going, who is spending it and how much, allowing businesses to be more strategic, efficient and informed in the way they spend. 

To learn more about how Float can help your company spend smarter and travel better, connect with us today!