In today's fast-paced business environment, managing expenses efficiently is key to financial success. Businesses often face challenges in tracking spending across departments, projects, and teams. This is where Card Groups, one of amnis' smart control features, comes into play.
What are Card Groups?
Card Groups allow businesses to organize and manage their debit cards based on specific regions, departments, projects or teams. Instead of having all expenses mixed together, companies can segregate spending, providing better control, transparency, and budget tracking.
Each Card Group comes with its own assigned cards, group budget, and settings such as country validity or ATM withdrawal allowance. Additionally, Card Group managers can access all transactions, card details, and limits in one place, making it simple to track budgets and stay on top of expenses. This ensures that financial decision-makers have real-time insights into spending patterns and can adjust budgets as needed.
Dividing your business expenses into groups - such as staff, marketing, subscriptions, and software tools - provides great control over your cash flow. By clearly defining who in the company can access and spend from each group, businesses can ensure structured financial management while preventing unnecessary or unauthorized expenses.
Why are Card Groups useful?
Card Groups provide multiple benefits for businesses looking to streamline their financial management:
Enhanced Budget Control: Clearly separate expenses according to your business’ needs (e.g., marketing, travel, subscriptions) to monitor spending in real time.
Preventing Overspending: Card Group managers can oversee transactions, set budgets, and, hence, avoid overspending.
Better Cash Flow Visibility: Gain insights into which areas of the business are using the most resources.
Simplified Reporting: Grouped transactions offer a faster overview for reporting and make expense tracking more efficient.
Team-Specific Access: Ensure the right people have access to the right budgets, preventing unauthorized spending.
Global Control with Local Flexibility: Multinational companies can structure card groups by country, ensuring seamless global card coverage while maintaining local oversight.
Examples of Card Groups in action
Let’s take a look at some real-world business scenarios where Card Groups can make a difference.
Marketing Budget Control: A company can create a Card Group specifically for marketing expenses, ensuring that advertising, software subscriptions, and agency fees are managed efficiently in one place.
Project-Based Spending: A construction firm working on multiple projects can set up separate Card Groups for each project, allowing project managers to track expenses without mixing costs.
Team-Based Expense Management: A multinational business can allocate different Card Groups for regional sales teams, giving them controlled access to funds while maintaining oversight at headquarters.
Regional Expense Segregation: For companies operating in multiple countries, Card Groups can help manage spending per region. For example, a marketing department may have a dedicated group for advertising expenses in the UK, while the sales team oversees a separate group for client entertainment expenses in the DACH region.
Global Card Management with Local Control: A multinational corporation with subsidiaries in different countries can set up separate Card Groups for each country unit. Local finance teams can be assigned as Card Group Admins with limited rights to manage daily expenses within their region, while headquarters retains full visibility and control over budgets and policies. This setup ensures global consistency while allowing flexibility at the local level.
How do Card Groups help your business?
By adopting Card Groups, businesses can move away from paper-based and inefficient expense management methods. Instead of struggling with unclear transactions or overspending, companies can enjoy a structured, transparent, and efficient approach to managing business card payments.
At amnis, our goal is helping businesses optimize their financial operations. Stay in control, monitor spending, and improve financial planning with our Card Groups feature.
🔎 For step-by-step instructions on how to get started with Card Groups at amnis, check out our FAQ article on how to set up and manage Card Groups.