Innervation Rewards and Mastercard team up to Digitise and Simplify Expense Management for Corporates in South Africa

Innervation Rewards, an incentive and rewards company, has partnered with Mastercard to launch SlipMate, an intelligent expense management solution designed for South African companies to reconcile employees’ corporate expenses from their Mastercard prepaid corporate card.

SlipMate offers a mobile app that empowers employees to easily capture, submit and track expense claims. Backed by Standard Bank and Tutuka, the solution is built on Amazon Web Services to ensure always-on availability and scalability. Embedded analytics provide HR and finance departments with visibility over the full expense claim process, from submission to pay-out.

“Building on our decades-long track record of understanding employee behavior and what drives people to succeed, together with our track record of disbursing funds to corporate employees, we developed SlipMate as a way to ease the complexity of operating in the modern business environment,” said Steve Mallaby, CEO at Innervation Rewards. “In addition, as technology and innovation propel the business world into the future, with so many employees working remotely and having to convert part of their homes into workspaces or offices, having an efficient and user-friendly expense claims process can contribute to an improved employee experience and support talent retention.”

Corporates can save time on administration and reconciling paper receipts through the app’s Optical Character Recognition (OCR) capabilities for accurate capturing. The automated receipt filing feature allows for real-time expense approvals allowing for faster reimbursements to the delight of employees. The expense claim processes are recorded for reporting and analytics to be used by management.

Employees receive Mastercard corporate prepaid cards to securely pay for all travel and entertainment expenses, without needing to dig into their own pockets. The card programme also gives companies more control over their employee spend, with the option to add purchasing controls to eliminate fraud to improve policy compliance. When used in combination with reporting and expense management solutions, they bring better visibility and efficiency into corporate travel and entertainment expenditures.

“We mark a new milestone in this partnership with Innervation Rewards to launch SlipMate. As we expand our solutions and support corporates and businesses in South Africa in their transition to digital, we continue to address the challenges that traditional channels pose by making corporate payments simpler, more secure and convenient. By using Mastercard corporate prepaid cards in conjunction with Slipmate, companies will significantly reduce their admin costs and overheads,” said Suzanne Morel, Country Manager for Mastercard, South Africa.

The solution further helps organisations and their employees save time on expense claims and reconciliation through several automated processes combining the smartphone app with company policies and systems that delivers intelligence back to the organization’s HR and finance teams.