Attractive benefits from business credit cards.

   Some businesses find that bank transfer or traditional payment methods save time and manage cash flow more flexibly. However, in many cases, business cards offer more advantages.

Outstanding growth in digitization demand in the B2B payment market.

   With the growth rate and the increasing demand for digitization in payments, business-to-business (B2B) is an area that needs to be prioritized for modernization. However, bank transfer is still the payment method that accounts for a high proportion of the total annual commercial expenditure (CCE) worth 330 billion USD.Part of the reason is that the market's awareness of corporate credit cards is still very open, as well as many small and medium enterprises that do not yet understand the great and practical financial benefits that this card brings. . So what are these benefits and how can we make the most of them?

Optimize business management and business plan.

   When achieving a certain growth rate, small and medium-sized enterprises must optimize their business operations to save costs and create a premise for market expansion. Accordingly, businesses need to start integrating payment solutions into their operating systems.

   Digitizing business card payments can help businesses quickly record expenses and categorize expenses, allowing them to easily identify where a business activity is costly or inefficient.

   As such, a business credit card can act as an optimal business planning and budgeting tool.
With advanced reporting, businesses can also reduce the chances of budgets being misused or poorly managed. Spending digitization allows businesses to look at expense items, such as travel and entertainment (T&E) or everyday shopping, to identify cost-saving opportunities in their operations company.

Attractive offers and cost savings

   A major factor limiting a business' ability to modernize its payment methods is the perception that switching to a corporate card means missing out on payment method cashback or loyalty programs. traditional. As a result, many businesses still do not fully understand or may even underestimate the attractive savings or incentives that business cards bring.

   For example, some businesses find that bank transfers or traditional payment methods save time and more flexible cash flow management. However, in many cases, business cards offer more advantages.

   Through the use of corporate card incentives such as interest-free days and installment payments, SMEs have alternative solutions to access and expand working capital, thereby can promote the growth of the company.

   Business cards also help improve cash flow forecasting and allow for optimization of working capital, which can also save businesses in the long run.

   In addition to helping to better manage cash flow, corporate cards also have incentives such as cashback, promotions, etc. to digitize business payments. An example can be mentioned is Visa and more than 30 service providers have had discount policies to bring many practical benefits to Visa business cardholders.
By using incentive programs of key service providers, businesses can take advantage of new technologies and services, helping the company grow.

Better accounting process and less management process

   Another benefit of the business card is the optimization of business time and resources. A survey conducted by Visa in the Asia-Pacific region in 2019 showed that on average SMEs spend 60 hours per month on administrative work such as invoicing, reconciliation and payment. 

   One of the big obstacles when paying by bank transfer is that the processing time of money transfer and transaction reconciliation is cumbersome, time consuming and can cause errors leading to delays.Using the business card, small and medium businesses can significantly save the time of financial accountants, thanks to the quick processing and automatic division of expenses. By making these departments more efficient, companies will have more time and resources to focus on growing their businesses.