Corporate Credit Cards: Eliminating the Turbulence in Expense Reporting

It is no secret that organizations find it hard to manage the expense reporting process. You have to facilitate the process of expense reporting while at the same time you need to have control over business expenditure. Accountability and transparency are the two things you have to consider while managing this process. Although mobile expense reporting makes it possible for enterprises to strike the right balance, incorporating corporate credit cards can help businesses organize their processes the right way. With card integration, employees will no longer have to save receipts and spend days on entering their expenses into the system.

Why Corporate Credit Cards?

When corporate credit cards are used by employees, their business expenses will automatically appear in their accounts through synchronization mechanism. The only thing employee has to do is to match receipts to the expense. Combining corporate cards with expense report software ensures ease of use for employees and gives greater control for the finance department.

Here, we give you a few reasons how corporate credits help you ease the expense reporting process.

Better Accountability

Organizations often complain employees don’t submit expense reports on time. They don’t really save receipts that have to be filed for processing reimbursements. With credit cards, you can easily and efficiently save receipts and directly import all those into your expense report. As every receipt is submitted electronically, there is no scope for tampering, increasing the accountability and transparency of the organization’s expenses. Not only can you submit receipts online but the reports can also be approved digitally. Approvers can review the reports at their convenience without waiting until they get to the office.

Extensive Reporting and Analysis Options

With all expense reports available from a single interface, you can easily analyze and report expenses. Also, it would be easy to export data and conduct audits. You can get to know spending trends and charts by category, department, location, employee and other categories.

Corporate card integration will strike the right balance between monitoring and facilitating the expense reporting process. This would help organizations stay up-to-date and get complete information about business expenses.