In today’s fast-paced business world, expense management has taken center stage. Business owners and finance professionals alike are always on the hunt for tools that make managing finances more streamlined and efficient. Enter BILL Spend & Expense (formerly Divvy), the all-in-one expense management solution that promises to revolutionize the way businesses handle their finances.
- Update 10/24/2023: Starting September Divvy will become BILL Spend & Expense.
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Business Credit: More Than Just Numbers
- Fast and Flexible: No matter if your business is a budding start-up or a well-established enterprise, Divvy offers credit lines ranging from $500 to a whopping $15M. The application process? Quick and online.
- Scalable Solutions: As your business grows, so can your credit line. Divvy offers the ability to apply for credit line increases directly from your dashboard, ensuring that your credit evolves with your business needs.
- Tailored Underwriting: Every business is unique. Recognizing this, Divvy offers varied underwriting processes to ensure you get a credit line that mirrors your business’s distinct needs.
Cards For The Team
Divvy believes in empowering every member of your team.
How? By providing each employee with their own corporate card. Plus, with Divvy’s proactive spend controls, you, as the business owner or finance manager, remain in the driver’s seat.
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Software Integration: Keeping It Seamless
Divvy boasts not only of an impressive desktop software but also of a 4.7 star-rated mobile app (as of 11/12/2021). What does this mean for you? No overhaul of how you do business; just a smoother financial management process.
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Pros & Cons
Divvy vs. Other Corporate Cards
Pros of Divvy:
- No annual fees.
- Flexible reward options.
- Option to have as many virtual cards as required.
- Cards for all employees, with controls set by the admin.
- Enforceable budgets.
- Automatic integration with Divvy expense management software.
Cons of Other Corporate Cards:
- Annual and monthly fees.
- Set reward structures.
- Limited allowance for virtual cards.
- A restricted number of cards per organization.
- Lack of tracking or spending locks.
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Expense Management: A Modern Approach
Gone are the days of lengthy email chains and time-consuming expense reports. With Divvy, you get:
- Quick Reporting: Faster month-ends with streamlined expense reporting.
- Real-time Insights: Understand and categorize spend instantly.
- Holistic Tracking: Manage all types of expenses in one place.
- Automated Processes: Enjoy features like receipt matching, automated reports, and rule-based categorization.
- Complete Control: Prevent overspending and fraud with real-time views of expenses.
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Smart Spend Management
Divvy’s approach to spend management revolves around:
- Budget Control: No more overspending with proactive budget tools.
- Visibility: Get real-time insights on spend across different departments or projects.
- Ease of Fund Transfers: Send or request funds effortlessly.
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Virtual Cards: The New Normal
Divvy’s virtual cards are designed to offer maximum protection against fraud and overspending. With these, you get:
- Better Protection: Unique cards for every vendor.
- Budget Management: Set limits for vendor payments.
- Real-time Tracking: Monitor every transaction as it happens.
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Feedback Speaks Volumes
Based on a March 2022 survey by UserEvidence of 127 Divvy users:
- Users reported an average monthly savings of $10,630.
- 94% of surveyed users would recommend Divvy.
- Users saved an average of 12 hours monthly.
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Safety First: Divvy’s Security Features
Divvy’s commitment to security is evident through:
- Leading account security measures.
- Proactive fraud prevention.
- Compliance with PCI DSS and SOC2 Type 1.
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How the Divvy Business Card Stacks Up Against Other Business Cards
If you’re able to manage weekly bill payments, the Divvy Business Card can be an excellent choice for earning rewards at an impressive rate, particularly on restaurant and hotel expenses. It can function effectively as a standalone rewards card.
However, if you only pay once per month, the card’s rewards rates might not be as competitive.
Divvy Business Card vs. Brex 30 Card
Similar to the Divvy Business Card, the Brex 30 Card is a charge card that doesn’t require a personal guarantee, has no annual fee, and provides a diverse range of bonus rewards categories.
The Brex 30 Card also offers an array of valuable benefits, including discounts and substantial credits for popular business expenses, such as digital advertising and web services.
Divvy Business Card vs. Capital One Spark Cash Plus Card
The Capital One Spark Cash Plus Card is another business charge card that delivers outstanding ongoing value through its flat-rate cash back program and numerous attractive perks.
Although it comes with a high annual fee, one of the card’s essential annual benefits—a $200 cash bonus each year when you charge $200,000 or more to the card—can easily offset the fee, making it an ideal choice for businesses with substantial expenses.
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The Bottom Line
In the realm of expense management, Divvy appears to be a game-changer.
With its impressive range of features, from scalable business credit options to virtual card provisions, it aims to simplify financial management for businesses of all sizes. While it offers a plethora of advantages, like any tool, the real value lies in how it aligns with your business’s unique needs.
If you’re on the lookout for a solution that promises efficiency, real-time insights, and robust security, Divvy might just be worth considering. However, always ensure you evaluate its offerings in line with what your business requires most. Happy financial managing!
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