Improving Corporate Credit Card Compliance
The use of corporate credit cards in T&E related spends is on the rise. They offer ease and distributed buying power to the employees, but also significantly increase the chances of fraud and policy misuse. Sophisticated expense report software builds both strong usage strategies and restrictions and ensures better chances for corporate card compliance. Well established policies in T&E expense management serve as controls for corporate card program.
Monitoring and analyzing all spend transactions is the best way to ensure that business travel and expense policies are followed. The software sets an effective monitoring and analysis program that immediately impacts out-of-policy spending by finding non-compliant transactions prior to expense reports being submitted. The continuous fraud analytics of this application serve to make employees less likely to violate business T&E policy.
Monitoring expenses after they have occurred will help organizations watch complete spend patterns and behavior, and adjust travel policy as required. Continuous transaction monitoring along with cross-system view of business data and real-time analysis of every corporate card transaction plays an important role in managing fraud and policy violations.
Though rules are necessary for corporate T&E policies, monitoring spends after the fact will help in catching some of the non-compliant spending that can fall through the crack. The software solution enables you to craft a spending program that can be easily monitored by your employees and managers/approvers.
Web-based expense report software examines complete corporate T&E expense transactions by mixing complex, predictive analytics, with transaction analysis. The robust features of this software make it easier for you to uncover possible misuse and corruption, and compliance violations.
