Tedy is designed to give employers a flexible and efficient way to manage employee benefits, rewards, and expense programs. It operates similarly to an expense account, where funds are allocated without requiring upfront payment.
Virtual Allocations
When employers assign budgets to employees (for example, for wellness, learning, or rewards), these amounts are virtual allocations.
No funds are disbursed at the time of allocation
Budgets exist digitally within the platform
Employers can allocate funds across different programs with full control
This allows companies to plan and distribute benefits without impacting cash flow immediately.
Employee Experience: A Virtual Wallet
Employees can view their allocated amounts directly within Tedy, where it functions like a virtual wallet.
Employees see their available balance in real time
They can use this balance to submit claims or redeem rewards
All activity is centralized and easy to track
This creates a simple, transparent experience for employees using their benefits.
Submitting and Approving Claims
When employees make eligible purchases, they submit claims through Tedy for reimbursement.
Claims are reviewed and approved based on program rules
Only approved claims move forward to reimbursement
Employers maintain visibility and control over approvals
Billing and Reimbursements
As the employer, you are only billed when funds are actually used and approved.
Once a claim is approved, the reimbursement is processed
The corresponding amount is deducted from the allocated balance
At that point, the employer is charged
If no claims are submitted, no money is spent.
Summary
Allocations are virtual, not prepaid
Employees access funds through a wallet-like interface
Claims must be submitted and approved
Employers are billed only upon reimbursement
Tedy’s approach ensures flexibility for employees while giving employers full visibility and cost efficiency.