I recently caught up with Toffer Grant, CEO and Founder of PEX. PEX is a “next generation” corporate card solution focused on shifting how small businesses work with cards and manage the flow of cash, a critical function for business success.
Mr. Grant founded PEX 10 years ago with the vision of innovating the card world for Small &
Mid-Sized Businesses (SMB’s). According to Toffer, “The PEX platform, along with the PEX Card, gives small business owners control over spending. Better control = more productivity, more visibility, less misuse and more efficiency.”
PEX is not a traditional credit based solution and does not compete with traditional credit cards. PEX is a pre-paid card designed to eliminate and replace petty cash and personal expense reimbursements which take time to manage, time to process and open the door for fraud. The biggest challenge for the company currently is spreading the message that PEX is not your ordinary spending solution and that there are better options than a petty cash box. Mr. Grant stated, “We are seeing an increasing number of businesses that recognize a need to replace outdated and inefficient options. In many cases, we are not only educating about the PEX Card solution, we are also educating on the various solutions available to facilitate spend”.
The company currently has customers across the country of all sizes and in most market segments and is looking to exponentially grow its business through SMB advisors, like QuickBooks ProAdvisors, bookkeepers and other accounting professionals. The company has its PEX Ambassador Program which allows advisors to earn additional revenue while they help their clients gain efficiencies in their business expense management.