Stampli announces new corporate card to stop shadow spend

The Stampli Card was designed to stop shadow spend before it happens, giving AP the control needed to properly manage all spend regardless of the payment method by bringing corporate cards and invoices management together, all-in-one place.

According to the press release, one of the most significant issues facing Controllers and AP teams is the rise of ‘Shadow Spend,’ where corporate procurement policies to obtain proper approvals and authorisation for spend are avoided by placing purchases on a corporate credit card for online subscriptions and purchases, leaving AP teams lacking visibility into these credit card purchases until the monthly statements arrive.

Stampli Card transactions are automatically captured and processed like invoices inside Stampli. Stampli automatically matches transactions to uploaded receipts and reminds cardholders to provide supporting documentation as needed.  Everything is then synced directly to the organisation's financial system of record, directly from Stampli.