A client lunch here, a cab ride there— employee expenses can add up quickly on a day-to-day basis. How do you know if these expenses are within the budget that you have set for the week or the month?
One way to go about it is to monitor these expenses everyday from your admin dashboard; another way is to wait for employees to submit their expense reports and then compare the actual employee spends with the budgets at the month end. Both these ways are time consuming and reactive by nature.
How about we show you a way where you can proactively and automatically keep employee expenses under budget without having to track them everyday? Our ‘Real-time Limit Setter’ helps you do exactly that.
About our ’Real-time Limit Setter’ feature
The Limit setter feature helps you set limits on individual employee cards, decide where the card can be used and how much can be spent on the card in a day, week or month. Think about it this way – you now have the power to control expenses even before they are incurred.
How to use the feature
Login to your Admin Dashboard, and go to the ‘Manage Employee’ tab. Click on the ‘Update Limit’ icon as shown below.
Now ‘Limits’ can be set at two levels –
- on card spends made on specific payment channels (POS, ATM, Online)
- on the total spend amount
Whichever way you choose, you can limit spend to a particular amount or a count (number of times the card is used) per day, week or month.
Live examples of how Happay customers use the ‘Limit Setter’ feature
We got in touch with some of our customers to understand the various scenarios in which this feature has helped them manage budgets effectively.
Examples of limits set on total spend per day or month:
1. Managing fuel budgets of hyperlocal runners: Our customers in the hyperlocal sector have runners or delivery executives who use the Happay card for fuel purchases on a day-to-day basis. Managers for each area set daily spend limits on the runners’ Happay Cards. The limits ensure that the runners transact only upto that amount for fuel in a day. On top of that, managers can also restrict ATM withdrawals on cards so all fuel transactions made are cashless.
2. Managing travel budgets of a mobile salesforce: A lot of our customers have a large salesforce that is required to travel regularly. Their Managers or Supervisors can set a daily or monthly limit for travel expenses on each employee’s card and ensure that spends don’t exceed that specific budget.
3. Managing petty cash budget of stores and branches: For companies that have stores distributed across large geographies, the staff of each store is provided with a card and petty cash for the month is loaded on the card. Outlet managers can set monthly limit for the petty cash spends and restrict spends to the budgeted amount.
4. Managing ad-hoc purchases: If one employee’s card is given to another employee for an ad-hoc purchase you can set a quick limit in real-time for that purchase and remove the limit once the spend is made.
Examples of limits set on specific channels: Say if your marketing team members use their Happay card online for marketing tools and ads, and offline for printing marketing collaterals you can limit the card usage to Online and POS and restrict ATM withdrawals.
Flexibility of the feature
The great thing about the ‘Limits’ feature is that you can add or remove limits in real-time from your admin dashboard. You can set limits for all employees or specific ones. By restricting cards at ATMs you can drive cashless and paperless budgeting for your organisation.
If you have used the ‘Limit Setter’ before, do share with us what use case it was for. If you faced any problems while using the feature, do let us know how we can make improvements in the comment section below.