For Transparent Management and Automation for Business Expenses
NEW YORK, Nov. 16, 2021 (GLOBE NEWSWIRE) — Karta.io, an automated financial control system, has launched new smart credit cards, specifically designed for transparent management and automation of company expenses. The tool facilitates smarter company spending by enabling both the finance team and employees to easily control, pay, track and report on operational expenses in real time.
The traditional financial management system has drastically affected many companies’ control over operating expenses. They often face problems such as corporate card limits, the inability to track employees’ spending in real time, and a confusing reporting system that results in wasted work time and increased paperwork. Typically, when cards keep circulating amongst employees in a company, it’s quite impossible to monitor who purchased which item and for what price. As such, financial teams spend valuable working time processing expense claims and tracking every transaction made by each employee. Hence the dire need for a centralized, automated, and transparent system for controlling operating expenses.
Karta.io is a decentralized platform offering a convenient tool that helps companies simplify expense control, create an unlimited number of virtual cards (virtual Visa and MasterCard business cards) for certain purchases with the click of a mouse, set spending rules for each user, manage commands and permissions, and automate company financial reports with the click of a finger. “Initially, we created karta.io as a service for internal use to help solve our problems, but we soon realized that this service would be useful for other companies as well. First and foremost, our solution is aimed at empowering finance teams; this allows your company to broaden the potential of its spend management process through consistency, availability, and flexibility”, says CEO Nikita Zimarkov.
These smart credit cards are available for teams, start-ups, advertising, retailers, e-commerce, and business, for transparent, controllable, and flexible operational spendings management. With Karta, an unlimited number of cards can be issued for ad accounts on any advertising network like Facebook, Tik-Tok, Google Adwords, Taboola, and more. As such, advertising expenses can be tracked in real time. What’s more, single-use cards can be offered to employees, travel agencies, and contractors. This way, companies can set budgets and control travel expenses. Unlike existing platforms, this infrastructure offers an efficient budget control system with the following features:
- One can issue and top up an unlimited number of virtual cards, united by a digital ecosystem.
- Every employee receives a personal account, along with the ability to create and manage cards.
- Complete control over company spending with individual limits and usage rules for each employee.
- Employers can track the expenses of individual employees for each task, and download their company’s complete financial reports.
- Integrate Karta.io with pre-installed software like Quickbooks, Xero, API, or Zapier. This tool combines leading programs and innovative technologies.
- Karta’s API fully complies with PCI-DSS 1 standards. This provides an integrated approach to information security of payment data.
Karta has created a seamless onboarding process for potential clients, with managers who are available to provide valuable answers to any question.
Once registered, each employee gets a personal wallet and the ability to issue an unlimited number of cards. They are able to create wallets, cards, and also set unique limits for each card which can be changed by the manager at any time. In addition, employers can set spending policies not only for individual employees but also for selected teams as well. Karta.io smart cards log every payment immediately, thus saving time on manual data entry. As such, teams can automate financial processes and focus on dedicating resources to key business tasks.
Karta is a unique software that offers reliable spending management solutions to businesses by helping them make smart decisions. This decentralized platform gives companies the ability to optimize their budget, time, and resources thereby achieving a healthy spending culture.
Contact: Anna Kupiakova, PR Manager