RawTV

Raw TV work extensively in the US filming television series' and films for international distribution. Typically Raw TV funded this work on UK credit and debit cards and in cash, which is very costly in terms of both banking charges and exchange rates given that their income is in USD. The company was effectively losing out on exchange rates on two fronts, the income source coming in in USD and being converted to Sterling, and then converted again from on-the-ground spend by the UK Sterling credit card company. By using CorporatePay the production was able to completely remove the variance on exchange rates for on-the-ground spend by transferring USD on the cards so the Producers could spend in the same currency that the productions are paid in.

What did CorporatePay do?

CorporatePay provided Corporate Expense USD cards to RawTV's employees. These cards are funded by a USD account, giving greater visibility over spend abroad as well as allowing RawTV to purchase USD at a preferential rate.

How did this benefit RawTV?

CorporatePay's Corporate Expense USD prepaid MasterCard cards, have helped RawTV reduce costs, administration time and improve efficiency:

• The card can be distributed to all staff, with funds only released as and when required
• Quick and easy distribution of expenses through a centralised management system, wherever the production crew are based
• Production costs can be spread over time, with weekly or per diem allowances paid onto the card rather than a bulk initial payment before production begins or after production completes
• Improved visibility over expenses, allowing RawTV to benchmark costs and identify areas for cost saving
• Foreign exchange savings as the cards are funded in USD, so currency can be bought in bulk and individual foreign exchange fees incurred by UK debit or credit cards can be avoided
• Provision of a clear audit trail, reducing the need for paper based reporting and the collection of receipts
• Improved reconciliation, tax reporting, record keeping and control for audit purposes through accurate expense records

How did this benefit RawTV's employees?

As well as benefiting the client, these prepaid cards also provide a simple, easy to use solution for employees:

• Ease of access to expenses, via ATM or PoS and improved security of funds compared to carrying large volumes of cash
• Improved flexibility, as additional funds can be loaded in real time as required
• Reduced administration time and need to collate paper receipts, due to improved electronic audit trail, allowing employees to focus on their trip
• No need to incur expenses from their own pocket, and be subjected to expensive credit card fees