Today, software plays a major role in a vast array of different business processes. A perfect example of this is in the management of travel expenses within a company. Travel expense software has become increasingly important due to its ability to help streamline the process and improve results.
Over time, these programs have increased in their capabilities and today the best travel expense software offers a wide range of features that can help business leaders improve their company’s bottom line, reduce fraud, improve accuracy, and boost compliance. Different features offer different things, and one of the best to look for in a program is credit card integration.
Credit card integration is just what it sounds like – the ability to link up credit and credit card accounts with the travel expense software. Automation plays a huge role here, for example: you could enter in an expense that is linked to the company credit account. Instead of having to manually enter the expenses in the expense program and then key it into the credit account, one basic entry logs everything for you.
This process simplifies management of travel expenses and offers numerous benefits to businesses. Some of the most important things that this feature can do include:
- Simplification means more productivity. Since your employees aren’t spending time entering the same expenses into multiple accounts, they have more free time to focus on earning profits for your company.
- That level of simplification also means that you have less chance of fraud occurring. When accounts are linked, it’s harder for dishonest employees to commit acts of fraud, which in turn can cost a company tremendous amounts of money.
- Errors can cost a company in numerous ways – not only directly, but through the potential of fines due to noncompliance. These errors can occur in larger number when gaps occur between the reporting on travel expenses and credit cards. Credit card integration helps facilitate improved accuracy.
By choosing a travel expense software option that offers full credit card integration, business are able to improve their accuracy and help improve their profit margins in surprising ways. By making it easier for employees to turn in their expenses and simplifying the process of approving, filing, and managing the expenses and their connection to credit accounts, this feature is easily one of the best ones to look for in modern expense management programs.