Float’s 2022 Product Roundup

At Float, 2022 was a whirlwind year with lots of exciting product launches built to simplify our customers’ business spending. Going into 2023, we’re more determined than ever to make financial management even easier for companies and teams across Canada. 

Without further ado, check out how we simplified financial management for our customers in 2022 below (and read on for a sneak peek of what lies ahead). 

Giving you easy access to USD Cards

Since Float’s inception, USD cards have been the number 1 product requested by our customers. Many were frustrated by the offerings (or lack thereof) from Canada’s Big Banks, as most require a US legal entity, and none offer the advanced spend management tools that Float has become known for.

We are just at the beginning of what’s to come with Float’s USD Cards, and in 2023 we’re going to continue to build out this product (with some exciting announcements coming in Q1).

Helping you ensure company spending is within your guidelines

Having oversight and control over company spending is essential, especially as rumblings of a recession grow louder. That’s why we released Expense Policies in Float, so you can ensure purchases made on Float Cards meet your guidelines.

We also made it even easier for company Spenders to submit their expense information as soon as a purchase is made with custom expense URLs to upload receipts, tag GL codes, and enter descriptions. This year we’re focused on continuing to give finance teams greater control over company spending with Merchant Controls (and more).

Offering payment terms for your stage of growth

Big banks don’t make it easy for businesses to access corporate cards – oftentimes they’ll ask for personal guarantees or collateral, in addition to charging high annual card fees. Float’s pre-funded cards give Canadian companies easy access to corporate cards plus advanced spend management software. 

But as our customers grow, their need for extending their cash runway increases. So in 2022 we introduced Float’s new Charge Card product, offering qualifying customers 30-day unsecured credit terms with high limits and easy early repayment methods. (Interested? If you’re already a Float customer, you can apply in-app. New customers can apply online here.)

Growing with your finance team’s tech stack

Float’s direct accounting integrations with QBO and Xero allow customers to map their Chart of Accounts to Float so that transactions are easily coded (and embedded with receipts) for export at month-end. 

With many of our customers outgrowing these accounting platforms and moving to an ERP, Float launched its Netsuite integration to ensure your spend management processes grow with you.

And so much more

Sometimes it’s hard to quantify just how much work has been done in such a short amount of time. Luckily, we keep track of all our app updates, and in 2022 alone there were a whopping 5,982 of them! Here are some highlights:

• Easier on-the-go spending with new physical cards with tap functionality
• Increased account security with MFA and SAML SSO
• Decreased administrative headaches with automated receipt matching
• Easy access to audit trails for card creation and spend requests with Audit Logs

What’s ahead for 2023?

Businesses across Canada are facing a challenging environment in the months ahead. We’re all looking for ways to do more with less and find ways to save – whether that’s through cost savings or efficiencies in our administrative processes. 

That’s why in 2023 we’re focused on:

• Helping you find savings in your company spending
• Automating month-end as much as humanly possible 
• Simplifying the payment process for your company expenses

Above all, we’re dedicated to supporting our customers over the next 12 months as we navigate uncertain economic headwinds.

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