Allow us to introduce to you Team Management! ⭐ An entirely new feature that allows organizations to create departments and assign specific managers within Float to empower smarter spending within teams. Team Management takes the load off your finance team by giving managers more responsibility to control budgets, while keeping financial data exclusive to administrators and finance controllers for review. 👀
When teams don’t have control over their spending, enforcing financial policies is difficult, tracking expenses is a total nightmare and overspending is much more likely. Our new Team Management feature is the solution to all of this. 👏🏼
A closer look at Team Management (TM) 🔎
Manager Permissions 🙋🏼♂️
TM gives managers greater control and visibility over team spending with the authority to set predefined budgets, distribute corporate cards, approve spend requests in seconds and empower teams to make responsible spending decisions! 💸
Team Management 👫 👫
You can now assign multiple managers and spenders to various teams with added functionality like auto-tags to clearly define each employee’s role and spending authority. Easily distribute corporate cards to departments and/or team members with customized limits based on expense type or project budget.
Multi-Level Approvals ✅
Float gives you the means to decentralize spending with an easy and efficient approval process within our platform. You can create multi-level approvals for each team and define approval levels based on the spending amount for any request. Whether it’s a $200 or $20,000 request, the correct individual will be prompted (via Slack or email) to approve it, with an e-paper trail that you can always depend on. 🤝
What are the perks? 🤩
Greater accuracy and control 👍🏼
Managers now have a better view of where capital is going, how it’s being spent and who is spending it. TM also enables a clearly defined structure for employees to make spending decisions aligned with the team’s budget and the company’s overall spending strategy.
Save time and increase operational efficiency ⏱
You can expect a simple spend approval process where expense management is a breeze, employees can make transactions quicker and finance teams are given more time to focus on important tasks.
Promote a decentralized structure 🙌🏾
Managers gain greater authority to track and manage team spending with TM, while employees have the flexibility to make business purchases on demand without a series of management approvals.
At Float, we saw that fast-growing teams were looking for a more effective way to delegate and empower their employees.💪 So, we took matters into our own hands and created Team Management! Interested in learning more? Book a demo with Float today!