How Mesh Helps Control Cash Outflow and Cut Costs By Sarah Murphy June 9, 2022 As inflation continues to rise, businesses need to make financial decisions that will allow them to survive economic downturns and thrive in spite of fiscal uncertainty. At Mesh Payments, we’ve always helped customers optimize their corporate spend, and being able to control and limit corporate spending has never been more important than it is right now. In order to steady the ship during economic turbulence, it’s crucial for companies to review expenses and make tough decisions about what is necessary, what can be afforded, and what may have to be renegotiated or eliminated. Here are some of the ways Mesh is able to help your business save on unnecessary spending, control cash outflow, and cut costs overall. Full Visibility You can’t control your corporate spend without knowing exactly how much money is being spent and where — and Mesh gives you full visibility into your corporate spend. With unlimited virtual cards, you can limit who has access to funds, where that money can be spent, and how much can be spent. Cards can be locked to specific vendors, approval flows can be customized, and cards can be suspended with a few clicks. Receipts can be uploaded digitally on-the-go so no transaction ever goes unaccounted for, while purchases are instantly categorized to ensure the finance team knows where the money is coming from and where every penny is going. The Mesh dashboard gives you an overview of company finances, but you can also dig into each and every individual transaction to gain detailed insights on every aspect of your corporate spend. Armed with complete visibility, your company can easily determine where budgets need to be reallocated or cut — organizing your cash outflow and saving your business money. Optimize SaaS Spend Mesh Payments help you manage your recurring costs like SaaS subscriptions. It can help you identify where you are spending unnecessarily, and even suggest cheaper alternatives. By managing your SaaS subscriptions through Mesh, you can easily see how much your overall subscription spend is costing. Mesh will even notify you of unused and redundant tools or licenses you are paying for, and can offer you cheaper alternatives for software that performs similar functions. We will also alert you to any suspicious or duplicate charges that differ greatly from month-to-month. Furthermore, if you decide to cancel any of your subscriptions, you can do so in a few simple clicks and keep track of the cost savings right in the Mesh platform. Reduce Fraud Businesses lose 5% of their revenue to fraud every single year. That can add up to a lot of money very quickly. Corporate fraud can take on many different forms — from unauthorized travel to personal purchases with company funds to straight up embezzlement. Mesh Payments can help your company protect itself from all kinds of fraud. Virtual cards can be controlled by budget, user, date, and vendor, ensuring that corporate funds are only being spent where they have been approved. If exceptions are needed for any of these criteria, notifications can be sent to the appropriate manager right away for approval. And if suspicious activity is detected, cards can be suspended instantly with a simple click. Furthermore, digital receipt collection and expense tracking ensures that there is an immediate record of every transaction made with company money. Traditional corporate cards, meanwhile, often miss fraudulent charges until a statement is issued during month-end reconciliation. Mesh Payments takes security seriously, and is SOC2 certified. It’s Free (No, Really) In addition to helping you track and reduce corporate spending, Mesh also saves your company money by costing nothing. That’s right — nada, zip, zilch. Zero dollars. Unlike other platforms, Mesh doesn’t charge users for access to the platform. So, you can rest assured that Mesh will not be running up your monthly SaaS subscription bills. There are no hidden costs, no premium memberships, and no commitment. If you’re not happy with our spend management system, you can cancel at any time — and we still won’t charge you. Cash back! Not only is the Mesh platform free of fees, but you actually make money by using it. By using Mesh cards to make purchases you would be making anyways, you will receive a minimum 1% cash back. That applies to all business expense categories — office supplies, SaaS subscriptions, travel expenses, and more. Whatever you use Mesh cards to purchase will earn you cash that goes right back into your account. Think of it as a reward for taking control of your corporate spend! To learn more about how Mesh Payments can help your business manage spend and save money during an economic downturn, schedule a demo today. Manage Your Payments With Full Control & Visibility Get Started Sarah Murphy Sarah is a Content Manager for Mesh Payments. Before working in marketing, she completed her Master of Journalism degree at Ryerson University and worked as an arts journalist in Toronto. She was a content writer for tech companies in the retail and workforce management sectors before joining Mesh in 2022.