5 Ways Benefit.X Suite Can Boost Your Business
At Benefit.X, we aim to help small businesses unleash their true potential by supporting their business operations and increasing cash flow.
The Benefit.X Suite is our toolkit that contains a variety of resources to help small companies scale their business. Read on to find out more about the features offered and why we call ourselves “Your Perfect Start-up Companion”.
1. Unlock new limits with the Benefit.X Corporate Card
One of the features offered is the Benefit.X Corporate Card. We understand how difficult it is for small businesses to obtain a credit line due to stringent bank measures. As such, we have developed our own proprietary credit scoring engine that makes our corporate card readily accessible to you. Any small business that is operating in Singapore is welcome to apply.
Once you have received your Benefit.X card, a deposit is required before you can start using it. You will then be able to unlock a credit limit that is up to 10 times your deposit, depending on the credit score we give you. Thus, you will be able to use the extra cash flow to fund various business necessities that will help put you on the path of growth. With a corporate card, you will also be able to separate business expenses from personal ones. This will save you from the tedious task of sorting through muddled expenses when business starts to pick up.
Additionally, the Benefit.X card comes in both physical and virtual versions. This means that you can pick either one or choose both, whichever suits your needs.
2. Digitalise HR processes with ease
Benefit.X Suite comes with an integrated Human Resource Management System (HRMS) and a complementary mobile app to help streamline all your HR needs.
The HRMS is mainly used for employee administration while the mobile app gives employees convenient access to self-administered tools to manage their HR entitlements and benefits information. The Benefit.X HRMS and app are designed with user-friendliness in mind and are easily navigable. This makes the process of digitalizing your HR functions a smooth one, allowing you to run your business with heightened efficiency.
Moreover, as the HRMS runs on any internet browser, your HR operations are not limited to the confines of the office and can be performed wherever you are. Similarly, the mobile app also allows employees to manage their HR privileges such as claims, leave and payroll on the go. Furthermore, the mobile app also allows whoever has access to a Benefit.X Corporate Card to manage their card settings such as freezing their card or viewing past transactions.
3. Efficient Employee Management
The Benefit.X HRMS makes handling employee administration a painless task. The platform allows you to input a myriad of employee details such as Work Pass, Foreign Worker Levy, Self-Help Groups and leave entitlements according to staff profiles. You are also able to set multi-level approvals for leave and claims according to your company structure. Further, as all employees have access to the app, any updates to their particulars can be done by themselves, saving time and effort.
Leave submission is also optimized thanks to the Benefit.X app. This is because the leave function in the app allows employees to apply for leave directly through it. Managers will then be notified and can make approvals at a push of a button within the app. All leave submissions are reflected in the HR platform, allowing HR managers to be in the know about office attendance, thus facilitating better manpower management.
4. Organised Expense Tracking
The expense tracking function is another feature that can enhance your business operations. Similar to the leave submissions, claims can also be submitted through the Benefit.X app. Besides managers being able to approve claims effortlessly through the app, claims can be tallied and generated in the monthly payslip if you so desire. Adding to that, transactions made on the Benefit.X card can also be auto-generated as a claim within the app and tracked. Thus, this eliminates the headache-inducing task of sifting through receipts when settling reimbursements as all claims are already organized cleanly.
Payroll is another feature that helps keep company funds in check. The module allows you to generate itemised payslips that are in accordance with MOM and IRAS requirements. Once payslips are ready, they can be published in the app for employees to review at their own convenience.
5. Increase cashflow with digital loans
Although we are still in discussion with our partners regarding digital loan options, all Benefit.X users will be able to apply for said loans when we launch the venture. Loan capital will be disbursed through the Benefit.X platform and can be used to finance employee salary, rent and software subscriptions etc.
This allows you to pump the remaining funds into more exciting and innovative areas of your business, eventually catapulting you above your competitors.
Claudia is currently the Marketing Executive at Benefit.X.
Benefit.X powers Small Businesses with Corporate Cards and Digital Loan Options while complimenting their business operations with a cutting-edge Benefits and Human Resource Management (HRM) solution.
Find out more at https://benefit.exchange/corporatecard/
