I know, I know. The thought of employees running rampant with activated plastic in their hands can sound a little scary at first. Especially when we hear some of the real-life stories of poor decisions with corporate credit cards like lottery tickets, cosmetic surgery, and pet food!
But the flip side includes benefits for both your company and your weary business travelers. So whether your company calls them company cards, travel cards or T&E cards, consider these benefits:
First, for your company:
1. Perks, bonuses, and rebates. Find the corporate card program with the best rewards based on your spend profile. Whether it’s discounts on an airline that is hubbed in your city, discounts on rental cars, rebates, or merchandise (what a way to fund HR’s performance bonuses!), it’s found money you can put to the bottom line.
Second, for your executives and business travelers:
2. Never having to hunt for the missing receipt. Since the commercial card provider offers “level 3 data,” the missing hotel folio can be pulled up online. Corporate card programs offer exceptional visibility into spend, and so many companies no longer require receipts for expenses under $75.
3. Save tremendous time in creating your expense reports. Imagine being able to “drag-and-drop” expenses onto your expense report and not having to key in every meal and every taxi. All of a sudden, building an expense report isn’t a tedious chore.
4. Stop worrying about currency conversion. Another great benefit for those who travel internationally is that the currency exchange now becomes an inherent part of the card transaction. When you drag the item onto your expense report, the spent currency, conversion rate and converted amount are loaded for you automatically.
Learn more about other T&E policy changes that can save your company money, make your business travelers happy, and keep your accounting department sane. Download the whitepaper: 10 Essential Expense Management Best Practices.
And when you’re ready to integrate your corporate card program with your T&E management solution, look no further than Chrome River. We pride ourselves on our application’s ease of use, tremendous flexibility to accommodate even the most complex policies, our mobile workflow routing, spend analytics and reporting, not to mention our integration with commercial cards and financial systems.
The "way back machine" can take you back to 2012 when we penned a similar topic: Best Practices for Integrating Your Corporate Cards into Your Expense Management Solution.
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