A brief primer on modern corporate + purchasing cards for restaurants
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Technology is changing the way businesses leverage corporate cards to control costs. This was first seen in modern card platforms built for technology startups, the earliest adopters. In recent years, the technology has been coming to verticals like construction, logistics, and home services.
Each of these industries has solutions built just for them. Now, restaurants do too.
The way restaurants spend money is truly unique:
No other business spends like restaurants do, which is why the industry needs a modern corporate card solution built just for it.
At its core, modern corporate + purchasing cards for restaurants are just like any other corporate card and can be used wherever Visa is accepted. A major difference is the software surrounding each card that enables restaurants to use them more often and with increased control, security, and confidence.
Some of the benefits include:
How to start with Tab Corporate + Purchasing Cards
Restaurants can try Tab for free and be fully set up in just 30 minutes. A member of our team walks you through the quick application process, helps you add your team, fund your account, and create your first cards. Afterward, you have access to a dedicated account manager and 24/7 live support.
Creating Your First Cards
A card can be created in 4 clicks. You can name your card (ie. 'Sysco - Austin Location'), assign it to someone on your team, assign it to a location, set the spending limits, and select a virtual or physical card. Virtual cards are available instantly and physical cards ship in ~10 business days to wherever you'd like.
Using the Cards
Tab Corporate + Purchasing Cards can be used wherever Visa is accepted. You can put them on file with your distributor, pay for subscriptions, corporate travel, repairs & maintenance, issue to managers for miscellaneous business expenses, or anything else. You have full control over your cards.
Cards can be locked to certain vendors to ensure compliance with your spending policies.
Soon, restaurants will be able to get much higher credit limits with Tab and rolling net 30 day terms with every single transaction. Join the waitlist.
Managing Cards
All cards can be managed from within the platform. You can click into each one to see all transactions in real-time, edit the spending limit, and pause or cancel the card.
So if an employee ever leaves the company or if a card is lost, it takes just a few seconds to pause or cancel their card and issue a new one.
After the Card is Used
As soon as a transaction occurs, the cardholder receives an email with details of the transaction and is prompted to simply respond with a photo of the receipt or invoice. Once they respond, the document is automatically attached to the transaction and exported right into your accounting software.
If the cardholder doesn't recognize the transaction, they can dispute the transaction with 1-click.
With real-time, automated reconciliation, restaurants eliminate hours of costly back-office work while driving spend accountability, gaining control, and eliminating fraud and overspending. The impact is significant.
Try Tab today for free at tabcommerce.com/start or book a live demo.
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Tab Commerce partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Tab Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank.
Book a call with a member of our team to learn more, get a walkthrough of our product, and if you'd like, get started with Tab.
Tab Commerce is a financial technology company providing the most secure way for restaurants to spend money. Get virtual operating accounts, modern corporate cards, and more - all secured with our payment verification.
Get started in minutes with no credit checks or personal liability. Tab cards work just like any other corporate card but with the benefits of powerful spend control software built just for restaurants.
Tab cards enable restaurants to completely automate the complexity of managing corporate cards across multiple locations. From card issuing and management, assigning transactions to the right locations, transaction splitting, and knowing exactly what each location owes on the statement. It's all incredibly simple with Tab.
Anywhere that Visa is accepted (most places). Most vendors accept cards, but some might only be available upon request. With the Tab Network, we work directly alongside our restaurant partners to enable their largest vendors to accept Tab Cards without passing on fees.
Easily apply for credit limits or use cash by securely connecting each locations primary bank accounts with Tab.
You can create as many users as you would like. You can have Admins who can do everything across all locations and Employees who can only see the cards that you have assigned them. Managing this is incredibly easy from within the Tab Platform.
Virtual operating accounts are business checking accounts but used specifically for the chaos of spending and operations. Virtual operating accounts isolate this chaos away from your primary bank, increasing security, simplifying expenses, and providing access to powerful embedded products to control spending and automate back office work.
Yes, you can hold a balance in the virtual operating accounts. Funds in the account will earn 2% APY, calculated daily and paid monthly.
Yes, accounts are eligible for FDIC insurance up to $250,000.
You can easily link your primary bank accounts and set up auto-funding to maintain a minimum balance. You can also receives sales payouts from your POS or delivery apps into the accounts via our Deposit Management product.
Simply provide your virtual operating accounts routing & account number to your vendor, they'll do the rest.
With just 2-clicks, you can send a same-day ACH to any of your vendors. You can also pay with Tab corporate cards.
Keep your primary bank account, and link it right into Tab. It's good to separate the chaos of spending and operations away from where your savings and the bulk of your cash sits.
Each virtual operating account has a unique account & routing number. This information can easily be inputted into your POS, delivery apps, payroll systems, and any other revenue or expense source.
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