Great software for tracking monthly/annual stipends.
Use Cases and Deployment Scope
I’m an employee that uses Benepass for expense reports. My company offers several different stipends and benefits to their employees so Benepass is used to manage all of our stipends that refresh either monthly or annually. The business problems it addresses are easy management and tracking of stipend spending throughout the business. It saves employees time and enhances their experience when electing to use the stipends offered by the company,
Pros
- Tracking how much of my stipend I have available to spend each month/year
- Uploading receipts is easy
- Adding bank account is seamless and direct deposit occurs quickly after expense approval
Cons
- When using a virtual card, I still need to submit details for the expense. It feels like it would just be easier to fill in an expense rather than setup a virtual card for recurring payments that are reimbursed through stipends.
Return on Investment
- Employee retention. It helps employees take advantage of the awesome benefits and stipends their employer offers. Without seamless software to use here, employees may easily forget or just not use their benefits.
Alternatives Considered
Airbase, Expensify, BambooHR and ADP Workforce Now
Other Software Used
Airbase, ADP Workforce Now