Visa has recently teamed up with Sacombank to provide small and medium-sized enterprises (SMEs) in Viet Nam solution managing their business expenses more effectively.

Accordingly, the Visa Business Reporting enables SMEs to track where and how their money is spent, and if they are going beyond budget, making it easier to manage cash flow and compile accurate business expense reports.

By utilising Visa Business Reporting for business cards, SMEs can safeguard against misuse or poor management of employee expenses to achieve further growth.

Business cards will help SMEs save time in accounting processes and empower them to control their company expenditure.

Visa said it is collaborating with clients and partners to extend the merchant network for business debit card, assisting Vietnamese SMEs to start and grow their businesses. Meanwhile, SMEs can "buy now and pay later" using business credit cards.

”As the digital economy continues to grow rapidly, it is a key priority for businesses to have the ability to make faster and more efficient transactions, which can be achieved through digital payment methods. With Visa Business Reporting, we are providing a powerful expense management and reporting solution that’s been designed specifically for small businesses to enable them to operate more effectively,” said Dang Tuyet Dung, Visa Country Manager for Viet and Laos.

As businesses in Viet Nam continue to grow at unprecedented rates, recognition of the need to streamline operations to save costs and facilitate expansion is vital. Digitalisation can quickly itemise and categorise expenses to help SME owners easily identify inefficient/costly parts of their operations.

Visa Business Reporting can improve cash flow management, while providing financial incentives, thus enable business payment cards to act as a highly efficient tool in terms of planning.

Visa Business Reporting can be accessed via desktop or mobile. Cash transactions can also be added. Expense categories and dashboard can be tailored byeach business to provide information that matters to them through daily, weekly or monthly reports that analyse spending patterns from various perspectives following pre-defined expense categories. — VNS