Blog

Modernizing payments in business and on the field

Virtual Card Spend
No items found.

Managing the books, reconciling spending, keeping tabs on employee purchases, and remaining calm don't always go hand in hand. Successful small-to-medium businesses (SMB) recognize the importance of having internal processes, including financial ones, run smoothly to enable constant business growth. From launching to scaling, SMBs must continuously acquire the proper gear and adopt an innovative strategy to win at effective spend management. 

As we announced last week, the Jacksonville Jaguars are at the forefront of innovating around payments, as they recently partnered with Extend to proactively manage company credit card spend and simplify an otherwise complex and tedious expense process for the organization. 

With more than 200 business users who regularly need to make various purchases, the Jaguars were sharing physical credit cards with employees, leading to a lengthy and laborious reconciliation process. Furthermore, employees could not purchase what they needed when they needed it. Due to limited availability of physical corporate cards, employees had to follow a "check out" procedure, fill out forms, and attach receipts—a long yet necessary process at the time.

As a result, finance leaders needed to allocate extra time every month to connect the dots and determine who paid what, how, and most importantly, why, leaving them with limited visibility into card spend across the business. As you can imagine, definitely more work than play…

A simple and effective way to manage company card spend

The Jaguars were determined to simplify and modernize key finance processes in order to meet their objectives. They expressed two main reasons why they decided to partner with Extend in order to achieve this.

First, they were eager to enhance their finance operations in a secure, flexible, and centralized manner. With Extend, the Jaguars can easily create new virtual cards on the go, assign spend limits, and distribute cards to employees in seconds. With the ability to set dynamic controls and attach purchase orders and receipts, the Jaguars can easily view spending across their organization and automate arduous processes. Extend enables this flexibility with a consumer-grade user experience and comprehensive customer service support. 

Second, they wanted to immediately gain access to new card capabilities and spend management features without the hassle of leaving the bank they already knew and trusted. This is possible because Extend is the only virtual card platform that partners with banks to give their business clients access to virtual card capabilities on the cards they already have in their pocket, meaning there is no need for businesses to part ways with their bank nor request new lines of credit.

By partnering with Extend, the Jaguars have eliminated bottlenecks, made notable process improvements, and automated their reconciliation process with a streamlined virtual card solution, all while gaining real-time visibility and control over team spending. 

It’s play time

Want to learn more? Check out this video on how the Jaguars have tackled spend management this season.

Phil is responsible for building and growing Extend's customer base and partnerships. He brings over 25 years of international experience in B2B business development and management to the team. With previous positions at American Express, SAP, Verifone, and organizations acquired by Autodesk and Hewlett Packard Enterprise, Phil contributes vast expertise in card issuing, encryption, EMV implementations, and financing. 

His experience creates a unique viewpoint to finding solutions to complex B2B and B2B2C software and banking applications. Phil graduated from the University of Toronto with a degree in Mechanical Engineering and attended programs in finance and accounting. In his spare time, he likes to over-schedule his family with activities and keep his massive google calendar up to date.

Blog

Modernizing payments in business and on the field

Author
Phil Roberts
Business Development
Virtual Card Spend
No items found.

Managing the books, reconciling spending, keeping tabs on employee purchases, and remaining calm don't always go hand in hand. Successful small-to-medium businesses (SMB) recognize the importance of having internal processes, including financial ones, run smoothly to enable constant business growth. From launching to scaling, SMBs must continuously acquire the proper gear and adopt an innovative strategy to win at effective spend management. 

As we announced last week, the Jacksonville Jaguars are at the forefront of innovating around payments, as they recently partnered with Extend to proactively manage company credit card spend and simplify an otherwise complex and tedious expense process for the organization. 

With more than 200 business users who regularly need to make various purchases, the Jaguars were sharing physical credit cards with employees, leading to a lengthy and laborious reconciliation process. Furthermore, employees could not purchase what they needed when they needed it. Due to limited availability of physical corporate cards, employees had to follow a "check out" procedure, fill out forms, and attach receipts—a long yet necessary process at the time.

As a result, finance leaders needed to allocate extra time every month to connect the dots and determine who paid what, how, and most importantly, why, leaving them with limited visibility into card spend across the business. As you can imagine, definitely more work than play…

A simple and effective way to manage company card spend

The Jaguars were determined to simplify and modernize key finance processes in order to meet their objectives. They expressed two main reasons why they decided to partner with Extend in order to achieve this.

First, they were eager to enhance their finance operations in a secure, flexible, and centralized manner. With Extend, the Jaguars can easily create new virtual cards on the go, assign spend limits, and distribute cards to employees in seconds. With the ability to set dynamic controls and attach purchase orders and receipts, the Jaguars can easily view spending across their organization and automate arduous processes. Extend enables this flexibility with a consumer-grade user experience and comprehensive customer service support. 

Second, they wanted to immediately gain access to new card capabilities and spend management features without the hassle of leaving the bank they already knew and trusted. This is possible because Extend is the only virtual card platform that partners with banks to give their business clients access to virtual card capabilities on the cards they already have in their pocket, meaning there is no need for businesses to part ways with their bank nor request new lines of credit.

By partnering with Extend, the Jaguars have eliminated bottlenecks, made notable process improvements, and automated their reconciliation process with a streamlined virtual card solution, all while gaining real-time visibility and control over team spending. 

It’s play time

Want to learn more? Check out this video on how the Jaguars have tackled spend management this season.

Phil is responsible for building and growing Extend's customer base and partnerships. He brings over 25 years of international experience in B2B business development and management to the team. With previous positions at American Express, SAP, Verifone, and organizations acquired by Autodesk and Hewlett Packard Enterprise, Phil contributes vast expertise in card issuing, encryption, EMV implementations, and financing. 

His experience creates a unique viewpoint to finding solutions to complex B2B and B2B2C software and banking applications. Phil graduated from the University of Toronto with a degree in Mechanical Engineering and attended programs in finance and accounting. In his spare time, he likes to over-schedule his family with activities and keep his massive google calendar up to date.

Blog

Modernizing payments in business and on the field

Presented by

Heading

This is some text inside of a div block.

Heading

This is some text inside of a div block.

Heading

This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

"Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system."

Keep reading

Blog
Spend Management: The Complete Guide
Read more
Case study
Manufacturing: Centralized purchasing with virtual card APIs
Read more
Blog
How to Use Virtual Credit Cards
Read more

Talk to the experts

Learn more about Extend and find out if it’s the right solution for your business.