The 21st century moves increasingly towards digital financial transactions rather than cash. The many advantages are obvious. There’s security in not having to carry large amounts of cash on any one person or vehicle, there’s the “trail” that a digital transaction leaves that can be easily tracked, checked and verified in the case or a problem or dispute, and there’s the accuracy that is the hallmark of an automated system that monitors and logs transactions with digital meticulousness. This is especially true when it comes to business and expense reports. Keeping track of travel expenses accrued through the company credit card is far easier and more accurate than simply giving an employee cash and asking them to track all their purchases.
This is why, if you prefer using a company credit card, you should always consider complementing it with expense report software that plays on the strength of the credit card concept. Credit card usage is now largely digital, with an automated process that keeps track of the time and place of purchase, as well as the customer and good/service provider. Good expense report software integrates this automated tracking, so that users do not have to manually enter all the transaction details that have been automatically logged by the credit card system itself. With an integrated expense report software solution, an authorised credit card transaction can be automatically logged by the expense report software itself so that neither the individual employee, or the financial department needs to scrupulously track and log these activities. The credit card company is already doing it, the expense report software simply enjoys the privilege of having this information shared.
If your business is already using corporate credit cards for expenses, make the most of it. Ensure that your expense report software is integrated to track your credit transactions, so that your expense accounts enjoy a higher level of accuracy and timeliness that makes things more efficient for everybody.