A Guide to Corporate Credit, Optimising Cash Flow and Scaling for UK Mid-Market Businesses

In the competitive UK business landscape, mid-market enterprises constantly seek efficient ways to manage expenses, optimise cash flow, and facilitate growth.

Choosing the best corporate credit card and platform is difficult when there are many outdated incumbent solutions and new providers not catering adequately to a mid-market corporation.

Numarqe stands at the forefront of this quest, offering bespoke corporate credit card solutions tailored to the unique needs of UK mid-market firms. This guide delves into how leveraging and issuing multicurrency corporate cards and seamless accounting integrations can revolutionise your expense management and propel your business forward. Not all corporate credit facilities are the same, and Numarqe strives to be the best of the bunch.

Leveraging Corporate Credit Cards for Strategic Financial Management

Corporate credit cards emerge as pivotal tools for strategic financial oversight within UK mid-market firms. Numarqe's innovative solutions, including multi-currency flexibility and robust security features, are designed to streamline expense management and enhance operational efficiency. Key offerings include:

• Multi-Currency Corporate Cards: Numarqe's cards simplify international transactions and are accepted in over 210 countries and territories worldwide, making them one of the most widely accepted payment offerings on the market. Additionally, firms can issue cards in multiple-denominated currencies. Today, this includes GBP, EUR, and USD, allowing mid-market corporates to issue cards in the currencies they want to pay back in.
• Multi-entity onboarding: Numarqe can accommodate global enterprises with multiple entities, divisions and departments, allowing a truly globalised view of company spending.
• Unparalleled Security Measures: A blend of virtual and physical cards fortifies your transactions against fraud, safeguarding your finances.
• Dynamic Credit Management: Realtime management and allocation of credit allow businesses to align spending with strategic financial objectives, enhancing cash flow optimisation.

Embracing Financial Forecasting with Numarqe

Financial forecasting is a cornerstone of effective cash flow management, allowing businesses to anticipate future income and expenditures and make informed decisions. Numarqe's analytics tools provide deep insights into your spending patterns, helping you forecast future cash flows with greater accuracy. By leveraging Numarqe's data-driven insights, businesses can:

• Graphically visualise corporate expenditure and track variances over time.
• Predict seasonal fluctuations in cash flow.
• Plan for future growth initiatives with the confidence of having sufficient credit available.
• Make strategic adjustments to spending in realtime.
• Reveal wasteful spend and remove duplication across vendors and users.

The Power of Seamless Accounting Integrations

Numarqe's corporate credit cards are not just financial instruments but pivotal components of an integrated financial management ecosystem. By offering seamless bi-directional integrations with leading accounting software, Numarqe ensures that every transaction is automatically captured and categorised, facilitating:

• Automated Expense Reconciliation: Minimise manual data entry and reduce administrative burdens, allowing your finance team to focus on strategic analysis and decision-making.
• Receipt capture and VAT coding: No more chasing receipts; users are prompted at the point of transaction to instantly upload an image of their receipts and ensure the correct ledger and VAT coding.
• Insightful Financial Analytics: Gain immediate access to comprehensive spending data, empowering your business with the insights needed to drive cost-efficiency and financial optimisation.

Embracing the Flexibility of Virtual and Physical Cards

Understanding the diverse needs of mid-market businesses, Numarqe offers the flexibility of both virtual and physical corporate credit cards. This approach not only caters to various operational requirements but also enhances security and spending oversight:

• Instant Access with Virtual Cards: Facilitate immediate transaction capabilities for urgent expenditures, ensuring your business remains agile and responsive.
• Customisable Spending Controls: Tailor spending limits and restrictions across both card types to adhere to corporate financial policies and budgetary guidelines.
• State-of-the-Art Security Protocols: Benefit from advanced security features, including PCI DSS, MFA authorisation across the platform and virtual cards for secure online transactions and chip-protected physical cards for in-person purchases.
• Find out more about virtual cards here

Selecting the Ideal Corporate Credit Card for Your Mid-Market Business

Choosing the right corporate credit card is crucial for mid-market businesses aiming to streamline financial operations and support sustainable growth. When evaluating options, consider:

1. Multi-Currency and Multi-Regional Versatility: Seek out solutions that offer multi-currency capabilities and multi-entity capabilities across regions to meet your international needs.
2. Centralised Platform with Spending Controls: Focus on the capability to manage users and cards on one global platform, with instant click control of spending limits and cards.
3. Meaningful and Flexible Credit Limits: Ensure your card issuer can accommodate high credit limits for your business needs, particularly through seasonality periods.
4. Seamless Software Integration: Opt for a card that integrates effortlessly with your accounting systems, ensuring fluid expense approvals and reconciliation.
5. Advanced Security Features: Prioritise cards equipped with comprehensive security measures to protect your financial assets and transaction integrity.

Choosing the best corporate credit card and platform

Adopting the right corporate credit card strategy for UK mid-market business is instrumental in achieving efficient expense management, cash flow optimisation, and sustained growth. Numarqe's tailored and personalised corporate credit solutions, designed with the needs of enterprises in mind, provide the necessary flexibility, security, and integration capabilities to navigate the complexities of the modern business environment without forcing you to change your ERP stack.

Consider a UK-based mid-market business facing challenges with managing its international transactions and forecasting its cash flow accurately. After switching to Numarqe, the company was able to:

1. Do more with an increased credit line Numarqe looks at your working capital profile, being how and when you will use credit throughout the year: this is how we can provide high limits to suit your business spending needs.
2. Reduce transaction costs and improve cash flow by using Numarqe's multi-currency corporate cards for internationally located employee expenses.
3. Achieve more accurate financial forecasting and budgeting with insights generated from Numarqe's analytics tools and exported data.
4. Streamline expense management and accounting processes across the company group, freeing up resources to focus on growth and expansion.

Embrace Numarqe's innovative approach to corporate credit and set your business on the path to financial success. Ready to find out more? Book a call today.

Don't take our word; do check out our case studies to see how others use Numarqe's mid-market-focused credit solution.