AirPlus Virtual Cards

The smart way to pay for employee training

Spending on employee training is growing fast. By the end of 2024, it’s expected to reach a value of over $400 billion globally – up from $383 billion the year prior.

There are a few ways we can explain this trend: Modern workflows have brought about increased use of specialized digital platforms, requiring specialized knowledge to use. Then there’s the tough economic conditions which are putting pressure on businesses to not just attract but retain and upskill existing talent to address skill gaps.

Whatever the reason, it’s clear that businesses are increasingly willing to invest in their teams’ learning and development. And this is a trend we’re seeing around the world.

Global workplace training industry market size

However, the nature of the training industry makes providing such opportunities to your employees difficult.

With trainings increasingly being sold through digital channels that reward prompt, early payment – often requiring the use of credit cards – it pays to be agile.

But traditional payment methods aren’t fit for this purpose, and so businesses regularly lose out on early-bird discounts or even a chance to attend classes with limited placements.

Employees usually aren’t supposed to make partial advance payments either, as this would lead to chaos with billing.

The data shows this trend towards online trainings in action.

AirPlus analysis of virtual card transaction data

Sources:
* Statista 2024
** AirPlus analysis of virtual card transaction data

Online learning platforms made up the majority of learning and development spending among AirPlus Virtual Card users.

These platforms allow employees to learn and develop specific skills while earning industry-recognized certifications. These range from broader skills relating to project management and Scrum, to software-specific training from providers like Microsoft and Udemy.

Traditional training venues like conferences and events, as well as universities, are still popular for employees. But what remains constant across the board is the use of online payment channels where cards are most convenient.

Physical credit cards have their drawbacks: Not all employees have access to their own credit card, and so payment must be made by others or card details shared around – hardly a convenient or secure solution.

That’s why we’re seeing more and more businesses turning to virtual cards to make these payments.

Let’s take a look at why

The benefits of virtual cards at a glance Stars-Icon

Convenient and secure payments

Easy centralization of diverse expenses

Straightforward handling for employees and accounting teams

Efficient administration, processing, and settlement

Dynamic control and transparency

Individually definable card limits

Why you should use AirPlus Virtual Cards Procurement for your employee training payments  virtual-card-Icon

 

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Quick generation:
Generating virtual cards is quick, enabling you to utilize
early-purchase discounts and take part in trainings with
limited availability

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Dedicated payment solution:
Employees do not need to pay in advance out of their
own pocket, therefore removing the need for lengthy
reimbursement processes

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Easy allocation:
DBIs allow for clear allocation of costs thanks to the
inclusion of data such as training provider, participants,
cost center, and more

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Transparency:
Gain a clear overview over training expenses for better
budgeting and identifying potential negotiation
opportunities

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Employee empowerment:
Virtual cards are the attractive and secure way for
enabling your employees to book trainings and take
advantage of education offers

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Fraud prevention:
The inherent security of virtual cards prevents their
misuse after paying for the training

Upgrade your payment solution Benefits-Icon

Virtual cards are the ideal payment method for the modern employee training market. Thanks to real-time control, high quality data, and easy payment, you can enable the learning and development of your employees and remain competitive – made possible by AirPlus Virtual Cards Procurement.

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“Travel expense statements are a lot of work for the traveler, travel manager, and financial accounting department. If expenses are paid using someone‘s personal credit card or cash, it gives rise to a lot of manual work after the trip.”

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AirPlus Virtual Cards Classic can save you time and money. All purchases made with AirPlus Virtual Cards are compiled into a single, central statement with no need for a travel expense report for each individual employee. The additional information supplied for each transaction makes it easier for you to allocate costs later on, meaning less work for the accounting team and the traveler alike.

“A lot of time and effort go into the booking and reconciliation processes. I want as many processes as possible to be automated to streamline these processes and save time.”

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AirPlus Virtual Cards are integrated into more than 80 booking platforms. This makes it possible for the whole card generation and payment process to take place seamlessly in the background when you book with your preferred booking engine or back-office system.

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