This is the era of Industry 4.0. Everything is virtualized. Why shouldn't petty cash management be virtualized too?
With ZRO Prepaid Cards, petty cash management becomes completely hassle-free. There is no need to hand out petty cash to the employees anymore for day-to-day expenses. The organization just needs to provide them with the flexibility of using ZRO Prepaid Cards.
Since petty cash is not formally connected with the accounting system, managing petty cash manually often leads to accounting errors, misappropriation, and overspending. Over time, the problem can amount to significant losses for the company, and the company can’t even notice these problems until it’s quite late.
ZRO is an innovative solution to the exasperating problem of managing such expenses and payments and it bridges the gap between the spending employee and the accounting department.
With ZRO, companies can deploy a smart way of managing petty cash expenses avoiding all these problems.
A company has to deal with so many priorities. Petty cash management should not add to these complexities.
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of cash advance given
Earlier, companies would manually give out a cash advance or transfer to an employee’s salary account. A dedicated person in the finance team had to keep track of and note down the advances given and settlements made. This was cumbersome and time-consuming. Today, companies use petty cash management software like ZRO to automate petty cash expense management.
Gone are the days when the companies used to manage petty cash transactions manually. Today with petty cash management apps like ZRO, companies have fully digitized their petty cash management. ZRO Prepaid Card gives the company much-needed control over the way petty cash is used. Whenever an expenditure happens, the manager and the accountant get notified. They can either approve or reject the transaction.