Opening an account with Memo Bank allowed Francis Pallini, the president of Ecilia, to reorganize the spending policy that was in place within his company. The expense management system developed by Memo Bank allows Francis Pallini to very easily create physical and virtual cards, assign them to employees, configure them in a few clicks (definition of a ceiling), and track expenses along the water. The creation of cards cost Ecilia nothing, because the subscription the company chose includes the creation of 10 physical cards, and 10 virtual cards, at no additional cost.
As it is much simpler to create payment cards at Memo Bank, Francis Pallini has increased the number of payment cards within Ecilia. Everyone who has to spend money now has a card. Employees who only spend money online have a virtual card; salespeople who travel to the field have received a physical card.
Employees who have cards have a budget to spend independently — the ceiling is defined when the card is created, and can be modified at any time. If an employee has to make an expense that exceeds the amount of their usual ceiling, Francis Pallini can define a new ceiling in a few clicks.
Another advantage of Memo Bank cards: deferred debit. All Memo Bank cards can be used either in instant debit mode or in deferred debit mode. At Ecilia, purchases made with Memo Bank cards are only debited on the first day of the following month. Deferred debit thus perpetuates one of the advantages of expense reports: the preservation of the company’s cash flow. Even if a certain number of employees now make their expenses with Ecilia payment cards instead of paying the expenses themselves, Ecilia’s cash flow is still preserved until the first day of the following month.
