Energy Industry Organization Prepared for Growth with Automated Per Diem Program.
Prepaid Expense Cards Replace Costly, Time-Consuming and Risky Cash Distributions
AXIS ENERGY SERVICES | LONGVIEW, TEXAS
Currently there are about 300 crew members throughout the U.S. working for Axis Energy Services, a Longview, Texas-based company providing completion and workover services in the oil well industry.
As the person responsible for getting per diems to each of these workers, you might expect Leigh Ann Richmond to be feeling a bit panicky. She’s not, and that’s in large part because of her experience with CommercePayments® Prepaid Expense Cards for the company’s per diem program.
Wrangling the Numbers
Richmond manages two per diem disbursements every day, seven days a week for those 300 field employees in 10 oil well yards throughout the U.S. She estimates it takes about 30 minutes each day to bulk upload individual per diems online using CommercePayments® Prepaid Expense Cards.
The Prepaid Expense Cards solved the cost, time and risk challenges that once plagued the company.
Previously, she had to determine the total amount of per diems owed for each of the workers by yard and then wire that amount to the yard manager three times a week. The manager would then withdraw that amount in cash and distribute the correct amount to each of the workers. The whole process took hours each week and working with cash carried inherent risk. Additionally, the weekly wire transfers cost the company $4,500 in fees annually.
A Better Per Diem Process
With CommercePayments® Prepaid Expense Cards, Richmond will be able to set up employees and issue cards to them in less than two days.
“When we added several new employees a few months back, I learned how easy it was to handle the per diem set up,” said Richmond. “It was incredible, the amount of data — which employee received, how much and at what location — we could manage so efficiently.”
Benefitting the Organization and Employees
While CommercePayments® Prepaid Expense Cards have greatly benefitted the organization, employees have realized advantages of them over cash per diems, too.
“In the past, if employees lost their per diem cash there wasn’t much we could do,” said Richmond. “But now if they lose their Prepaid Expense Card, I can instantly issue a replacement card and they immediately have access to their money. I probably reissue a new card every day and it just takes a few minutes.” The reloadable prepaid cards can be used everywhere Visa® is accepted for goods or services, or for cash at ATMs.
“The CommercePayments® Prepaid Expense Cards system saves me time and our organization money. I can’t imagine a better way to handle our per diem program.”
Leigh Ann Richmond
Per Diem Clerk, Axis Energy Services
CommercePayments® solutions are provided by Commerce Bank.
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