Visa spend clarity / set your limits to contractors / enjoy cost controlling results.
October 27, 2022
Visa spend clarity / set your limits to contractors / enjoy cost controlling results.
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Visa Spend Clarity
Our subcontract organization (outsourcing IT company) uses it to give payment limits to contractors located in the US and Eastern Europe, and Kazakhstan to have funds for covering their accommodation costs when they travel to meet clients or for remote contractors that need to pay communication costs (internet, mobile phones, computer cleaning materials) or premises rent (co-working facility) and we agreed to cover them within definite limit per month. That works with Visa Spend and especially fits our strategy of bookkeeping with Intuit Quick Books as the primary accounting tool so we can easily upload per every person costs collected within any given reporting period.
- Virtual visa openings.
- Setting Visa limits per given time period.
- Admin tool for funding account user.
- Multicurrency
- Limits per location.
- Focused on virtual visa limits, some locations may need real card connected.
- Limit per card and period - once reached and notified would be great to have extra 10% from the funding account added. Cause there may be FX differences or the person is in travel in a different time zone for calling to manually add balance by admin.
- Admin account must assign names of categories only (unified for all users).
- Invoicing tool - if user spend not properly to send a payback request.
- Core services integration: Booking, Uber, Trip Advisor, AirBNB, Flow, GoodRX.
- Loan request from a user to funding account: he may need to cover some uncovered by agreement costs - set request, set a return date.
- Business reports at Admin or Funding account level to see helicopter picture as it is for a period even prior kept records to books or exported to CSV to process.
- Virtual Visa cards instant issue.
- Setting card balances by Admin of Funding account.
- Intuit Quick Books integration.
- Faster to start operations with remote ad hoc contractors.
- Easy to cover Job interview costs (transfer, lunch, co-working etc.)
- It is not feasible, but probably it takes 20% less time to start work with you contractor.
- Once having integrations with Uber, Booking - probably discounts accumulated with funding accounts will influence the performance.
- Visa Spend Clarity
It is mostly focused on virtual visa operations. In general, all cash flow controlling suits easily can start from Excel or Google Colab integrations and evolve even to Sungard or WSS. It depends. Visa Spend Clarity is about your flexibility "to have your own bank in a pocket" - open sub-accounts, set limits, and reconcile costs actually made by your contractors or employees. We should see it wider and include Uber, Booking, Airbnb, and Flow interactions to make it a really fast process for your contractor from your "Yes" to contractor "Done". The Visa Spend Clarity is not exactly about your money (costs). It is more about your ability to start acting faster even if all details of cooperation with a person are not agreed upon, but as soon as possible, discuss critical details or add maneuver to your decision-making while limiting financial risk with reasonable limits.
Do you think Visa Spend Clarity delivers good value for the price?
Yes
Are you happy with Visa Spend Clarity's feature set?
Yes
Did Visa Spend Clarity live up to sales and marketing promises?
Yes
Did implementation of Visa Spend Clarity go as expected?
Yes
Would you buy Visa Spend Clarity again?
Yes