Any business leader who oversees a company with traveling employees is already well aware of just how important expense management software is to their bottom line. However, technology is constantly evolving and changing, and it’s good to keep tabs on the newest features and functions that modern automation solutions can offer a business. It might help you see that it’s time to upgrade to a new program.
One feature that modern expense management software programs should offer is credit card integration. This one’s often overlooked at first since you’ll be spending time looking at flashier features like receipt imaging or data reports, but there are some key reasons that help elevate credit card integration to one of the key features of a good program. These include the following.
- The biggest benefit of credit card integration in expense management software is simplicity. The whole idea behind automation of expense management is to cut down on the amount of work that your employees have to do, and streamlining processes is the key here. Credit card accounts that are tied to employee expenses need to be carefully managed, and they have to be managed separately. With integration, you remove a number of steps from the process and make it simple to instantly handle the processes involved.
- By connecting your credit card accounts to your expense management program you also reduce the chance of errors and fraud. It’s very easy for simple, honest mistakes to happen when managing expenses, and even easier when you have to carry over the information to the credit card accounts. That ease of error also means that it’s easy for dishonesty to rear its ugly head. When everything is linked, those opportunities are much less likely to exist and the accuracy of your entire expense reporting system is improved.
- At its core, the key reason that credit card integration matters is an increase in your bottom line. When your accounts are connected, your team does less work. This leads to improved efficiency and productivity throughout your company. Add in the fact that you won’t lose money to errors and fraud, and you’ll start noticing an increase to your bottom line quickly.
Every company needs to run like a well-oiled machine, and making sure that all the working parts are working together is the key to keeping your business moving forward in the best manner possible. Credit card integration is a major part of any good expense management software solution, so be sure that it’s present in whatever program you select for your company.