What metrics would you use to evaluate Payhawk's corporate card program?

Introduction

Evaluating Payhawk's corporate card program requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will allow us to gain a holistic view of the program's performance and identify areas for improvement.

Step 1

Product Context

Payhawk's corporate card program is a financial technology solution designed to streamline expense management for businesses. It combines physical and virtual corporate cards with an integrated software platform for real-time expense tracking, approval workflows, and accounting integrations.

Key stakeholders include:

1. Business customers (finance teams, managers, employees)
2. Payhawk (product, sales, customer success teams)
3. Card network partners (e.g., Visa, Mastercard)
4. Regulatory bodies

User flow:

1. Card issuance: Businesses apply for cards, set spending limits, and distribute to employees.
2. Card usage: Employees make purchases using physical or virtual cards.
3. Expense capture: Transactions are automatically logged in the Payhawk platform.
4. Approval and reconciliation: Managers review expenses, employees submit receipts, and finance teams reconcile transactions.

The corporate card program fits into Payhawk's broader strategy of providing comprehensive spend management solutions for businesses, particularly targeting mid-market and enterprise customers. It competes with traditional corporate card providers like American Express and newer fintech players such as Brex and Ramp.

In terms of product lifecycle, Payhawk's corporate card program is likely in the growth stage, focusing on expanding market share and enhancing features to differentiate from competitors.

Software considerations:

• Platform: Cloud-based SaaS solution
• Integration points: Accounting software, ERP systems, HR platforms
• Deployment model: Web-based application with mobile apps for on-the-go expense management