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's expense report software. 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.
- 10 Things to Look for on Your Expense Management Shortlist (And Why Chrome River Needs to Be on It)
- Three Questions to Ask About End-User Support
- Why is Your Company STILL Doing Manual Expense Reporting?
- Why Are Manual Expenses so Inefficient?
- How I Did it: Eliminating the Risks of Paper-Intensive Expense Processes
Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.