Popular features: 

Multi-subsidiary support makes it easy and efficient to manage company spend across subsidiaries and countries.

1. Automated approval workflows and upfront spend categorization ensure budget owners know what they are approving so they can both expedite and control spend.
2. Auto-lock card settings, receipt compliance controls, and fraud detection add an extra layer of security.
3. Delegation support saves time for executives.
4. Subscription management and duplicate spend alerts eliminate wasted spend.

The Airbase spend management platform offers a variety of card options. Select from Airbase pre-funded or charge cards, or keep your Silicon Valley Bank or American Express Cards for use on the Airbase platform.

We’ve gained significant returns from our use of virtual cards, not just in the form of cash back, but also in terms of time saved, compliance, employee ownership of spend, and visibility into company spending.

Eoin Hession
Controller

How virtual cards work:

1. The employee submits a virtual card request, complete with category of spend, and it is automatically routed to the right approver(s).
2. Once approved, the employee simply copies the card details and uses them for one-time or recurring online spend. Receipts are uploaded directly to the transaction in Airbase or emailed to a unique Receipt Inbox and automatically attached. OCR is used to populate the details of the transaction.
3. Transactions are automatically synced to the GL, including vendor coding, GL, category, line and transaction tags.

Note: Physical card transactions can also have automated approval workflows, upfront spend categorization, and will automatically sync to your GL.

Use case example: 

An employee request to purchase a $50 Amazon Gift Card with a one-time virtual card was approved. They simply copy the card details and make the purchase.