{"id":215,"date":"2019-09-19T04:42:00","date_gmt":"2019-09-19T04:42:00","guid":{"rendered":"http:\/\/bankopen.com\/open-money-blog\/?p=215"},"modified":"2023-07-07T12:48:42","modified_gmt":"2023-07-07T07:18:42","slug":"make-a-statement-with-the-smartest-expense-management-for-startups","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/make-a-statement-with-the-smartest-expense-management-for-startups\/","title":{"rendered":"Make a Statement with the Smartest Expense Management for Startups"},"content":{"rendered":"\r\n

Let\u2019s face it, startups have it tough. We\u2019re always in a race against time to crush those deadlines.\u00a0And managing our business expenses by switching between multiple platforms becomes just another hurdle to cross.<\/em><\/p>\r\n\r\n\r\n\r\n

Though there are various banking & accounting solutions out there, all of them exist in a silo. And rather than making things easier, they overburden us with more manual work.<\/p>\r\n\r\n\r\n\r\n

Yet, we all go about living our life with them.<\/p>\r\n\r\n\r\n\r\n

Well, I did too. Until I came across Open & their idea of an\u00a0all-powerful business banking platform<\/a><\/em>\u00a0<\/a>that offers everything from bulk payouts to automated accounting & all that\u2019s in between.<\/p>\r\n\r\n\r\n\r\n

So I dug deeper about Open & met Anish<\/a> to understand the big picture. His thought of building a business banking platform with integrated expense management really stuck with me. One that empowers you & your team to manage your expenses with ease.<\/p>\r\n\r\n\r\n\r\n

And I am so excited that our ultimate expense management integrated with Open account is already loved by businesses.<\/p>\r\n\r\n\r\n\r\n

But before we move on, let\u2019s take a step back & look at what we set out to solve for businesses.<\/p>\r\n\r\n\r\n\r\n

Managing your team\u2019s spend is a hassle \u2014 We feel you<\/strong><\/h4>\r\n\r\n\r\n\r\n

Over the past few months, I\u2019ve interacted with various business owners to understand the challenges they face in managing their business expenses. One thing that was a\u00a0major nightmare<\/em>\u00a0for all of them was\u00a0managing their team\u2019s spend.<\/em><\/p>\r\n\r\n\r\n\r\n

And I couldn\u2019t agree more.<\/p>\r\n\r\n\r\n\r\n

And having to lead a team, I understand what a nerve-racking pain it is to manually go through each receipt & approve the reimbursements.<\/p>\r\n\r\n\r\n\r\n

And it\u2019s the same for my teammates too. Once, they\u2019re back after cracking a crucial business deal, all they want is to be treated like a star. But in reality, they have to go through the burden of filing those meeting expenses.<\/p>\r\n\r\n\r\n\r\n

Now, if only I could empower my team with a prepaid expense card.<\/em><\/p>\r\n\r\n\r\n\r\n

Unveiling the showstopper<\/strong><\/h4>\r\n\r\n\r\n\r\n

We at Open are all about making bold decisions and bringing radically better experiences to our users. And the\u00a0Open Business Card<\/em><\/a>\u00a0is no exception.<\/p>\r\n\r\n\r\n\r\n

It\u2019s a prepaid debit card that you can hand out to your teammates. Just load it from your Open Account in minutes, set limits & get a boss-level view of your team\u2019s spend.<\/p>\r\n\r\n\r\n\r\n

Whenever your teammates swipe their Open card, they\u2019ll get a WhatsApp notification. All they\u2019ve got to do is reply with a snap of their receipt & it\u2019ll waiting for them on their Open dashboard, the next time they log in.<\/p>\r\n\r\n\r\n\r\n

\"File<\/figure>\r\n\r\n\r\n\r\n

As for those times when they end up paying out of their pockets, they can add those expenses on their Open dashboard in a click.<\/p>\r\n