Chief Marketing Officer at Hertz, Anders Tärnell, used to spend much of his workday managing all the receipts from his media and advertising purchases. Then he started using a virtual card and his administrative workload dropped by 80 percent.
Anders Tärnell is Chief Marketing Officer at the car rental company Hertz, managing both the Swedish and Danish markets. Together with teams in both countries, he works to grow and market the Hertz brand, primarily through digital channels.
“We buy a lot of advertising on Facebook, Instagram and LinkedIn, but also subscriptions for services such as audio files and other media that we need to produce high-quality communication,” Anders says.
Until about three years ago, he made all these purchases on his own private credit card.
“In the end, it just wasn’t working,” he explains. “The amounts grew too large and it was too much administration for me to handle. Especially the receipt management with all the purchases on separate invoices.”
Everything on one invoice
Then, his HR department suggested Anders should get a virtual card.
“I have zero regrets – it’s given me so much freedom. I don’t have a physical card that I can lose, and all the costs are gathered once a month on a single electronic invoice. I just need to go through and approve it,” he says.
Today, he spends much less time on receipts. “I would estimate that, on average, I have reduced my administrative work by 80 percent since I started using the virtual card.”
Another advantage of a virtual card is that it can be used for different types of online purchases in different departments.
“It’s ideal for when your team is as widely spread as we are. Employees don’t have to pay from their own pocket, to later be reimbursed, which has been greatly appreciated.”
Full control over all expenses
As a card administrator, Anders also feels he has total control.
“I have an overview of everyone's expenses and can easily approve the transactions,” he says.
The virtual card has made things easier, not only for the users but also for the finance department.
“Together we’ve created a clearer process. A much better overview, which is definitely a lot more positive for economic administration during receipt management. Everything is much smoother now.”
Hertz Corporation, or Hertz, is an American car rental company founded in Chicago in 1918. Today, they are among the largest companies in the world in the rental of cars, vans, minibuses and trailers.
About Eurocard’s virtual card
A business card for smoother online purchases.
- No risk for card being lost
- Every purchase from different suppliers gathered in one invoice
- No need for employees to use their private cards