Divvy offers additional capabilities ranging from bill payments to rewards. How much does Divvy cost?ĭivvy’s core tools, payment cards and budgeting capabilities are free to the subscriber, as the company makes its money from the swipe fees associated with credit card transactions. These disposable credit card numbers can be quickly canceled if a subscription is no longer being used. Most tech companies are awash in software hosting charges, subscription services and other recurring costs Divvy users can create a unique credit card number for these subscriptions, with a monthly cap that cannot be exceeded. Budgets can be either discrete or recur monthly.įigure B Image: Divvy Divvy lets users set up disposable credit card numbersĪnother Divvy feature that’s particularly useful for tech companies is the ability to set up “disposable” card numbers that can be assigned to recurring fees. As with any other charge, anything above the allocated budget is declined, though individuals can request approvals for exceptions.Ī budget view shows all the budgets associated with your company ( Figure B), and a simple graph details the budget amount, what’s been allocated, and what has been spent. These allocations appear on the employee’s credit card, and spending on the card can be assigned to the designated budget. Budgets can have one or more owners who manage the funds and multiple employees who can receive budget allocations. Your administrators can create budgets for various items that might range from a marketing campaign to travel for a conference. Divvy offers next-level budgetingĭivvy has robust budgeting features. In addition, employees can request increases to their credit limits instantly so that an emergency expense can be approved as soon as possible. In Divvy’s mobile app, employees and administrators can view transactions immediately plus, expense reporting is simplified because employees can individually categorize transactions and capture receipts without any special reports or manual entry. Divvy’s app makes expense management convenient Rather than being surprised by excessive spending weeks down the road, every charge appears instantly in Divvy, and charges are declined as soon as an employee exceeds their limit. Then, your admin can then set up employees and provide them with personal credit limits linked to a company credit card that Divvy provides. Your company can start using Divvy with a streamlined credit application that allocates credit to the company as a whole, reducing the burden placed on individual employees. More recently, companies like Divvy ( Figure A) have made expense management tools available to smaller companies and with Divvy, in particular, the tech-forward approach is an excellent fit for growing technology companies.įigure A Image: Divvy How to use Divvy expense management software These expense management tools were usually the domain of larger companies that could negotiate agreements with credit card companies and purchase expensive software. What is expense management software?Įxpense management software addresses these challenges by integrating payment cards, employee tools, and reporting and management in a single platform. In short, this administrative work will probably lead to limited insight. And, your organization might be awash in recurrent payments for everything from software licenses to office services that are no longer being used or are duplicates. This provides limited oversight also, unless someone diligently collects and aggregates expenses, your company likely doesn’t have a good handle on which departments are spending what. SEE: Hiring Kit: IT finance manager/budget director (TechRepublic Premium) The benefits of using expense management softwareĪt growing companies, expense management might consist of a shared spreadsheet and a half-baked approval and reimbursement process. Administrative tasks tend to fall on the back burner based on the idea that scarce time and resources should be focused on the core business expense management software is one way to make financial admin tasks easier. Tech companies have dozens of critical concerns, from hiring and retaining talent to ensuring products and projects hit their deadlines. For more info, visit our Terms of Use page. This may influence how and where their products appear on our site, but vendors cannot pay to influence the content of our reviews. We may be compensated by vendors who appear on this page through methods such as affiliate links or sponsored partnerships. How expense management software can help improve productivityĮxpense management software such as Divvy can reduce the administrative burden of expenses reporting and free up your team's time to be more productive.
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