If your company requires employee travel you should understand that corporate credit cards will benefit not only your business, but your employees as well. A corporate credit card program offering expense management solutions and built in budgeting tools will streamline the obligations of the travellers and administration team alike. In this post we’ll go over four ways corporate credit cards makes business travel easier for everyone involved.
1. Eliminate Out Of Pocket Expenses
Sometimes it’s hard to get employees to commit to a business trip because they can’t afford to be out of pocket until their reimbursement check finally arrives. Depending on your business cycle, it can take months before the expense report is filed, vetted, authorized and a reimbursement check is finally cut. Reduce the uncertainty for your employees and issue them corporate credit cards that will eliminate the need for out of pocket expenses.
2. Automate Expense Reporting
Keeping track of paper receipts and compiling them at the end of the business cycle is a time consuming task for both the creators and accounters of expenses. Eliminate the need for manually created expense reports by utilizing the expense management tools integrated with corporate credit cards.
3. Reduce Fraud And Misuse
Corporate credit cards offer controls that can limit the amount, time and locations of purchases which reduces the risk of improper use or outright fraud. Built in budgeting tools allow both the employee and the administrators to monitor expenditures ensuring that overspending doesn’t become a problem.
4. Receive Cashback Rewards
Corporate credit cards reward usage by providing a offering cashback rewards and other perks. Depending on the account type, every dollar spent using the corporate credit cards results in monthly rebates or reward points for the business. This can result in savings on future purchases, free perks and other bonuses for corporate card use.
The Future Of Emburse
Emburse is looking to rollout a corporate credit card system that includes built in budgeting tools and expense management platforms that offer a variety of settlement and invoicing options. Contact Emburse today for more information.