Divvy 2023 Review • Benzinga
Divvy Rankings at a Glance
Divvy offers time- and money-saving products that simplify expense management, business credit, expense management and accounts payable automation.
Divvy defines small businesses as businesses with fewer than 20 employees and medium-sized businesses with approximately 500 employees. Divvy works with companies in a variety of industries, including construction, healthcare, technology, accounting firms, e-commerce and retail. The solutions depend on the needs found in each specific field of work. Speeding up the accounts payable process allows companies to focus their time and resources on more pressing tasks.
Cost management facilitates budgeting while increasing control over a business’s cash flow. Businesses can set spending limits for employee cardholders and monitor spending. Users can send and receive funds instantly, which can be useful during short project timelines.
An expense management tool helps you organize and categorize expenses for faster approval and review, eliminating the time spent by staff writing expense reports. The desktop and mobile app are seamlessly integrated with QuickBooks and NetSuite.
Features include rewards, returns, virtual cards, accounting integrations, payment services, reports and financial insights. An extensive list of features allows businesses to meet a wide range of needs, from increased accountability to reduced overhead. Virtual cards provide security by protecting businesses from fraud. Companies can access a supplier payment solution free of charge.
Divvy offers a wide product offering for small and medium businesses in various industries.
Divvy has several methods of contact to assist with customer service. The company has a phone number, chat box, email, contact page, help center and several social media handles to promote interaction between customers and company representatives.
Divvy uses Instagram, Twitter, YouTube and LinkedIn.
The Help Center provides advice and resolves issues. Customers can type questions into the search box to find relevant informative articles. Key articles on the help page include information on how to get started as admins, as well as the requirements to apply for Divvy.
Customer reviews on Trustpilot, where the Divvy scored three out of five stars out of 350 reviews, highlighted room for improvement. Customers who reported dissatisfaction with Divvy cited a lack of prompt responses to inquiries. Users have raised concerns about the collection of personal information when applying for an account. On the other hand, satisfied reviewers noted that the platform saves users time and money.
Divvy uses multiple communication methods to appeal to a wide range of customer preferences. There is room for growth in terms of the Company’s responsiveness as well as in responding to customer concerns regarding the collection of personal information. The wide selection of communication methods available shows that Divvy is committed to actively engaging with customers.
Considering that Divvy allows businesses to use the platform for free, the pricing remains very reasonable. The company does not charge any unexpected expenses. It does not specify a minimum investment. Divvy encourages businesses to request a demo to understand what the platform has to offer.
Divvy cards have no annual fee and offer generous rewards. The cards include built-in expense management and quick transaction tracking to prevent overspending. The full balance is due within the specified period. Divvy charge cards are different from traditional credit cards. To determine a variable credit line, Divvy considers key factors such as a company’s cash balance, annual revenue and length of time in business. When you pull a credit report, Divvy performs a soft pull with Experian.
The first barrier to entry, as mentioned in many customer reviews, seems to be the thorough application process. Application requirements include annual income, business history, credit score and location. Businesses must be located in the United States to be eligible.
The mobile application is available on the Apple App Store and Google Play. The app is free and gives businesses access to a wide range of expenses, from expenses to budgets, maps and tracking.
The mobile app has an intuitive design that helps you quickly access important financial information. For example, users can approve expenses and take pictures of receipts using their smartphones.
The app saves time by allowing for easy data entry and quick tracking of financial processes, although several reviewers have noted occasional delays.
Divvy is easy to use. The user experience is focused on helping businesses in a variety of industries take control of their finances. Account managers have access to a simplified platform that promotes financial literacy.
For companies interested in using both management services and business cards, Divvy remains a very useful company. Divvy’s product offering ranks highly in terms of accessibility, adoption and user experience.
Mixed customer feedback on the ease of user experience leaves room for improvement. Reviews left on third-party platforms such as Trustpilot have reported frustration with issues such as account deletion. Divvy can still be very useful for businesses interested in a free, spend-oriented platform.
Divvy and competitors
While Divvy is a solid option to help manage expenses, the company faces major competitors like Ramp and Expensify. All three companies allow customers to manage their spending while using card management features, but Divvy has budgeting features that others don’t. For people who like to work in apps, Divvy mobile app beats the recently released Ramp app. Plus, not just a ticketing system like any other, Divvy’s live chat and phone customer support are great when you have an issue that requires someone to talk to. Unlike Ramp, which requires a minimum of $75,000 in cash in a US corporate bank account, Divvy has fewer restrictions and requirements. Divvy’s free-to-use option means even fledgling startups can access and use Divvy’s powerful expense management platform.
Divvy scores a decent 4.5 out of 5. The company has a product offering, clear pricing and a smartly designed mobile app. The platform integrates many important elements of the company’s financial process and offers a simplified solution. Divvy helps companies access relevant financial data in an easy-to-understand format. Information is recorded in a timely manner, saving time and money. Divvy is free to use and has no hidden fees. The mobile app allows users to access the information they need on the go, and not having to do extensive comparisons at the end of the month creates positive user feedback.
Divvy is highly regarded as a competitor in the ever-expanding industry of expense management solutions.
How long does it take to get Divvy approved?
The approval process will vary. For example, a loan application can take several hours and approval is not guaranteed. Check the application dashboard for updates in the application process.
What company is Divvy?
Divvy is a company dedicated to helping businesses and employees manage expenses. The company offers products aimed at improving business lending, expense management and expense management. Divvy uses a combination of payment cards with expense and management software to enable businesses to make better financial choices.
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