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I agree. If you're at the scale where you require an Enterprise solution, you should also have some level of finance department that knows how to handle purchas
by ajcp 5y ago
I agree. If you're at the scale where you require an Enterprise solution, you should also have some level of finance department that knows how to handle purchase orders, invoices, and ledgers of account. This enables transparent vendor account to customer account reconciliation. Credit cards leave everyone in the dark.
- molsongolden 5y agoCredit cards can also be a ~1% cash back across the board for the business and tools like Brex, Divvy, Airbase, etc... can provide even more spending visibility + budget tracking. These tools can also offer virtual cards, auto coding of expenses, and spending caps by card. ACH is better (lower cost) for the vendor but a proper card-based spend mgmt setup might be better for most buyers.
- ajcp 5y agoOh yes, there is no doubt there is monetary incentive to utilize credit cards for the business, and perhaps tools that can help integrate them. My take is that at an Enterprise level your calculation should be more toward business continuity and chain of custody, rather than squeezing value out of financial instruments that are not your core money-maker.