- Joint solution simplifies the funding and processing of business expenses for all levels of employees, while improving spending control, limiting liability and increasing financial visibility for companies.
- Tallie and PEX Card integration allows a direct, real-time feed of PEX Visa Prepaid Card transaction data into Tallie and ultimately a company’s accounting system.
- Combined offering takes another step toward vision of fully integrated workflows within a complete cloud-based accounting ecosystem.
SAN FRANCISCO, February 2, 2015 – Tallie, the leading SaaS expense management innovator and PEX Card, the provider of the PEX Visa Prepaid Card service for business, have combined their solutions to allow companies to fund and track corporate expenses by their employees through a convenient, cloud-based expense management system.
“The core value proposition of the PEX Visa Prepaid Card service is that it eases the burden companies place on their employees and accounting departments to cover expense outlays,” said Chris Farrell, CEO of Tallie. “PEX Card allows companies to issue prepaid corporate cards to all employees without the same risks of issuing traditional corporate cards or the accounting labor associated with cash advances. Direct integration with Tallie adds PEX Card to the complete expense management solution.”
Traditional corporate cards are limited to a small number of employees due to liability risk. Cash advances are challenging to account for and administratively time-consuming (e.g., approvals, reconciliations, cash dispersal, etc.). In all other cases, employees must “float” corporate expenses from their personal cash or credit.
The PEX Card and Tallie integration solves these issues, while delivering greater levels of spending control and financial visibility. PEX Visa Prepaid Cards can be issued to everyone who incurs costs on the behalf of the company, without the risk of misuse common with traditional corporate cards. Administrators can provision funds for cards instantaneously at the time of need (i.e., card balances can be set to zero while unused to limit unauthorized use and minimize company risk and funds can be deployed instantaneously to the person’s card at the point of purchase). Charges are posted immediately to the website for immediate visibility, can then be easily accounted for and matched with receipts and notes, and checked for duplicates in Tallie. The integration allows for a direct, real-time feed of PEX Visa Prepaid Card transaction data into Tallie and ultimately a company’s accounting system.
For example, a construction worker is faced with an unexpected shortage of building materials. He must make an immediate purchase of considerable value to complete his job on time and on spec, but has neither the credit available on a personal card, nor the time to locate an ATM to withdraw cash. The job completion deadline is missed and his employer faces dire business consequences. Equipped with a PEX Visa Prepaid Card, the same worker texts his company’s finance admin who immediately funds his card with money, specifically dedicated to the purchase required.
“Visa business prepaid cards provide a safe and convenient alternative to cash or checks. They also offer lower disbursement costs and increased operational efficiencies, making them a good choice for businesses and employees,” said Cecilia Frew, Head of US Prepaid, Visa Inc. “Combining PEX Visa Prepaid Cards with Tallie’s expense management solution extends the benefits of Visa prepaid cards to a broader market and provides businesses with more control over their money – anywhere, anytime.”
“In the field, we see burgeoning demand for a budget control and reporting solution that combines the benefits of business prepaid cards and automated expense management,” said Toffer Grant, CEO and Founder of PEX Card. “Tallie was the obvious choice given their pedigreed ecosystem of partnerships, track record with cloud-based integrations, and the power and simplicity of their product.”
For more Tallie news, visit our press room, read our Blog, watch our video and follow us on Facebook, LinkedIn, Twitter, Google+ and YouTube. For more, visit the PEX Card News page, read our Blog and follow @pexcard on Twitter.
Tallie is the leading SaaS expense reports innovator and enabler of the complete cloud-based accounting ecosystem. In close collaboration with users, CPA practitioners, and industry-leading accounting, technology, and financial partners, it has developed an automated expense report solution with comprehensive data capture, intelligent transaction categorization, robust approval controls and seamless software integration. Tallie was recognized for technology leadership by: CPA Practice Advisor, The Sleeter Group and Inc. Magazine. The company currently serves more than 3,000 business customers with more than 100,000 active paying users. www.tallie.com
About PEX Card
PEX Card is the payment industry’s leading corporate prepaid card service launched to streamline employee expense management. The PEX Card Admin web and mobile app portals include innovative control features for managing employee cards and prefunded deposits that companies can direct to Visa prepaid cards used for day-to-day spending. Businesses that integrate the PEX Card Service into their operations save time, money and improve cash flow visibility. The company is committed to introducing innovative services that better facilitate card-based purchasing commonly made by mobile work forces. PEX Card is partnered with key industry leaders, including The Bancorp Bank, and Visa U.S.A. Inc. PEX Card is privately held and is headquartered in New York City. The PEX Visa Prepaid Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Bancorp Bank; Member FDIC.
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group , a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.
Waggener Edstrom Communications
Marisa Hagerman, 415-547-7017