Month: February 2022

Picture this: you’re a Canadian startup revved up and ready to hit the ground running with no shortage of ideas coming down the pipeline. 🔥 But, you constantly find that you and your team are being held back by a series of financial challenges – whether it’s accessing funds and credit, managing your corporate spend or getting control of your budgets. Any of these sound familiar? 😓 Find out how you can axe these three spending challenges for good this year:

Challenge #1: Difficulty accessing corporate cards for your team 💳

Startups are moving fast and the last thing they want are roadblocks getting in the way of growth. One of the most common setbacks that startups face is difficulty accessing funds and corporate cards. Getting approved for a corporate card with one of the big banks can be as slow as snails. 🐌  And the reality is that startups can’t afford to wait that long to get things done. 

Having access to immediate funds for any startup is crucial. It enables teams to be responsive and act on big ideas quickly and in some cases, it’s necessary for employees to get their job done on any given day. At Float, we took this challenge by the horns and made it a whole lot easier for startups to access high-limit corporate cards with no personal guarantee. We get you approved in just one day and deliver your cards within three! 👍🏼

Challenge #2: Minimal visibility into corporate spending 👀

Without a proper system and finance policies in place, it can feel nearly impossible to know where your money is going, who’s spending it and why. When companies don’t have insight into corporate spending, it makes it that much harder to manage budgets across teams and creates a domino effect of other financial challenges including overspending and expense fraud. 🤯

Float can help you nip this in the bud. 😃 Our automated spend software and corporate cards can help you track corporate spending in real time. That’s right – you can see how your corporate dollars are being spent, as they’re being spent and by who. Not to mention, with our physical and virtual cards, you can set spending limits within teams to ensure employees aren’t overspending or making unauthorized business purchases. Float gives you an eagle eye into your corporate spend without any serious heavy lifting. 👌🏾

Challenge #3: Time-consuming expense management processes 🕰

Waiting until year-end to collect receipts and review expenses is a big no no. A lot of the time, startups rely on their employees to submit physical receipts at the end of the tax year, only to find out that they’re either invalid, lost or not a taxable business expense. That’s why Float was dead set on finding a better way. 😉

When employees make business purchases using a Float credit card, all transactions are recorded in time and employees are instantly prompted (and reminded) to submit their digital receipts. That’s right, those paper chasing days for your finance team are over. 🙅🏻‍♂️Using Float, finance teams can easily review and manage expenses at any given time throughout the year, with more time to analyze and understand how those funds are being spent within the company. 

If you’re ready to axe these challenges within your company once and for all, connect with us today to learn how Float can help.

Your finance team is focused on managing corporate spend, budgets and receipts on a daily basis. They are the fuel that keeps the company running smoothly and one of the most important departments in the fold. And, if you’re a new startup, it may just be that one special person who takes care of it all. 💸 🙋🏼‍♂️
If your finance team or accountant looks like they’re running on empty, here’s how you can show them some extra TLC this month. 💙

A simple ‘thank you’ goes a long way 🥰

Post a sticky note on their desk, send them a Slack message or write up a quick email expressing how appreciative you are for their hard work. 🙏🏽   Even the smallest of gestures can make a big difference.

Get on their good side. Submit receipts on time. 🧾

There’s nothing your finance team dreams of more than a stress-free month-end. ✅  One way to make their lives easier is by staying organized and submitting your receipts on time. This will save your finance department all of the stress and headaches they often endure while having to chase employees down for those last minute receipts. 🏃🏼‍♀️

Send them a sweet treat 🍦

See where you can extend your corporate budget and send a well-deserved treat to your finance team. Whether it’s some much-needed caffeine or a team lunch, the best way to anyone’s is through their stomach.🍕 🥗 ☕️

Win their heart with Float 💘

This will be love at first sight. 😍  Float’s platform simplifies and automates the entire spend management process that will make any finance team fall in love…fast.

• All expenses are organized and tracked in real time, all in one place 👍🏼
• Save time and say goodbye to expense reports 🎉
• Easily issue corporate cards to any employee who needs one 💳
• Gain greater visibility into company and team spending 👀
• Employees are notified to submit receipts after every business purchase 🧾

Diffuse month-end anxiety and show your finance team some love with Float. Book a demo with Float today. Your accountant will love you for it. 😍

Keeping up with your corporate expenses can be a total nightmare but it doesn’t have to be. In fact, 15% of all Canadian SMEs have found tracking expenses and reconciling their books to be a major challenge. If your team is growing, there’s a good chance your expenses are too, which means getting a handle on your expense management is key. Finding a better way to track and manage corporate spending can save you thousands of dollars a year – and we’re here to let you in on the solution. 

It pays to keep track.

Canada Revenue Agency requires Canadian businesses to keep records of all transactions to support their income and corporate expense claims. Companies can claim tax deductions on expenses, but only if they have a valid proof of purchase and can prove it was a business expense. How can they do this? 🤔  By providing a receipt. 🧾  
If your corporate receipts aren’t organized or properly submitted, you won’t be able to use these expenses as a tax reduction, which means less money back in your pocket come tax season. That’s why companies need to invest in the proper tools to enable managers to easily collect and record receipts from employees all year round. This will help them easily track their expenses and have a better picture of where their money is going, who is spending it and why. When it comes time to file taxes, you’ll feel like a major weight is lifted off your shoulder!

Automate & Celebrate! 🤩

Let those piles of receipts and chasing employees down be a distant memory of the past. 👋🏽 Not only is it annoying and inefficient, but it just makes things more difficult than they need to be. We have a better way with Float. Our innovative expense software and corporate cards automate this entire process, helping companies easily track employee purchases in real time while eliminating all of the headaches and paperwork that come with it. When purchases are made using a Float card, employees are instantly notified to submit a digital receipt so that your finance team has everything they need to review expenses, manage budgets and easily claim tax deductions. Float not only helps teams save hours in expense management every month, but we also give you back control over corporate spending in your organization. Not to mention, keeping financial records in the cloud has proven to be safer and more secure – and good for our planet. 💚 If there is any damage such as a fire or flooding in the office, you can ensure that everything is protecting, floating in the cloud!

We’ve got you covered.

Our platform collects your receipts so that you don’t have to – leaving extra space in your filing cabinets and less stress on your mind. With Float, you can: 

Get started fast with our simple set-up & onboarding 🚀

Quickly and easily reconcile your books ⚡️

Track business purchases in real time 💸

Create financial policies for all employees to follow 👍🏾

Instantly notify employees to submit receipts after a transaction 🧾

Set spending limits & approve spend requests in seconds ⏰

Collect and review key financial data all in one place ✅

Are you ready to introduce smarter, more efficient financial processes in your business? Book a demo with Float today!