Product Feature: Grab For Business Policies

All over the world, travel has bounced back to normal—and so have the associated costs for business travel. Globally, senior leaders expect business travel spending to?significantly increase ?in 2023. Corporate travel and expenses remain?the second-highest company expense after payroll , accounting for almost?13.5% of annual spending on average . Having a robust company expense policy can help curb skyrocketing employee expenses.

A company expense policy can standardise your company’s expense management systems, as well as limit and control employee spending by letting them know what they can and cannot charge directly to the company. At Grab For Business, we help companies gain better control over employee mobility and food spending through Policies.

Managing company expenses with Policies??

If adding employees to your Grab For Business account allows them to bill Grab transactions directly to the company, then?Policies ?allows your company administrators to enforce certain spending limits and controls.

Policies, a highly used feature on the Grab For Business Portal, adds a layer of control over company spending—all while empowering employees to bill work trips and expenses directly without requiring approvals from managers or finance teams.

With Policies, company administrators can specify spend limits and controls to programmatically enforce the company’s spending policies. Employees who try to make bookings that do not comply with the policies will be prevented from tagging them to their company’s Grab For Business account. They must then adjust their bookings, or contact the company administrator to amend their policies.

To access and edit policy settings, select Policies from the Grab For Business Portal’s main menu on the left. Policies can be set based on?spend limit,?location, and?time, and then assigned to select employee groups that allow customisation for different teams.?

To access and edit policy settings, select Policies from?the Grab For Business Portal’s main menu on the left.???

Spend limits

Spend limits control which Grab service employees can use and determine?how much?they can spend per transaction or within a specific timeframe (i.e., per day, week, or month).

Company administrators can assign spend limits to one or more employee groups. For example, higher spend limits can be assigned to sales teams as they frequently book rides to meet clients face-to-face. You can also customise employee groups to control the number of transactions and the amount spent for each employee. However, even if employees belong to different employee groups, they can still use all the spend limits assigned to them.

Spend limits can also be set on specific service types, or shared across multiple or all service types within the Grab app. For example, you can set a spend limit only applicable to GrabFood. If you use Grab for employee benefits, you can offer greater flexibility by assigning a spend limit that will be shared across Transport, Express, Food, and Mart instead.?

Specific to Transport, you can select the service types employees can book (i.e., GrabAssist, GrabBike, GrabCar Premium, GrabCar Rent, GrabCar Economy, GrabCar Economy Green, and GrabCar Economy XL).

Spend limits help ensure that there will be no overspending, policy abuse, or financial fraud among employees while giving them more certainty on what falls within company policies.?

Remember: only assigned administrators can set spend limits. To learn more about setting up spend limits for your employees within the Grab For Business Portal, read the step-by-step guide?here .?

Location policy

Location policies restrict?where?employees can use Grab’s core services. For example, suppose a company wants to provide perks for employees returning to the office. In that case, it can set a location policy stating that only rides with drop-offs pinned to the office address can be billed directly to the company.??

For GrabFood and GrabMart delivery, the location limit can also be applied to the office address where the food will be delivered as an additional perk for employees working in the office.??

Company administrators can select a distance radius around the locations where employees will be authorised to book Grab’s core services for business purposes, then set multiple locations within a radius of up to 2,000 metres for each location.

Time policy??

Finally, time policies determine?when?employees can use Grab’s core services. For example, some companies give food allowances to employees who work overtime. To ensure that they only spend on food as part of their overtime, the company can set a time limit for food delivery between 6:00 PM to 10:00 PM every day.

For time limits, you can select the time of day, or days in the week, when employees can use Grab’s core services for business purposes. Companies should implement this policy based on the time zone of the employee.???

Gain better control over employee spending with Policies?

Enforcing a company expense policy need not be a pain. While it should help curb employee spending, a robust company expense policy must also remain fair and support your employees as they perform their duties. With Policies, you can effectively enforce when, where, and how much your employees can spend on Grab’s core services—without limiting their options for rides, food delivery, and grocery shopping.?????

Want to know more about how?Grab For Business ?can help you better manage company spending? Schedule a call or demo with one of our partners to learn more.??