Forma

Employers establish guidelines in advance, such as the amount of money to be invested, the frequency and scope of the investment, wellness, learning, caregiving, home office equipment and setup, and more. Employees then choose which of the categories to use their allowance in rather than having to use one specific benefit. If there are local needs, multiple wallets can be run by companies for different regions or teams. Any leftover money follows the rules the employer already set up.

Most claims are approved without having to wait in a review queue once they meet the eligibility requirements set by an employer. Employees make a claim by using the Forma Card at the checkout or providing a receipt for reimbursement later. Forma's support team comes to the rescue, rather than leaving a claim hanging. If there was an error in the entry, the claim may also be edited or deleted directly by the employee from the pending claims.

Admins will see a real-time visualization of budget spending, request approvals and understand how much of the program is being used by employees. Reports can be retrieved to look for spending trends by account type, region or time. This provides benefits teams with something to fall back on when determining if a program needs to be modified. It also reduces the number of times numbers have to be manually pulled out from various systems.

Employees are able to purchase approved goods and services from the Forma Store without claiming for them later. The same applies at checkout, where the Forma Visa Card will be used; it will be taken from the account it's connected with. Both involve bypassing the normal receipt upload and wait-for-reimbursement process. Employees can pay directly through the Forma Store or Visa Card, skipping the receipt-and-reimbursement process entirely.