Your employees shouldn’t have to walk an expense report highwire

Your organization’s corporate travelers may enjoy the circus-like atmosphere of today’s business travel environment. But they hate having to perform a balancing act.

They rack up charges on personal credit cards at hotels, restaurants, and airports around the world, paying upfront for expenses. And then they’re forced to sit on those expenses for weeks at a time before being reimbursed. With each passing day, the clock ticks on interest rates, threatening to harm their credit scores and increase their financial burden.?

This is why corporate card companies were invented.

But what do you do in situations where corporate card services aren’t the answer? How do you pay employees back faster and avoid burdening them with the anxiety of floating charges on their personal cards?

One large organization faced this very challenge. With an outsourced manual audit team based in India, they were doing just the basics, checking for attached receipts and matching amounts. While they had rudimentary expense rules within their Concur EMS, reimbursements lagged. Even compliant spend took up to 30 days, which frustrated their employees.?

Enter AppZen Expense Audit. Only seven months into their journey, the transformation is nothing short of miraculous. Reimbursements now happen within 7 days, on average, instead of a grueling 30 (they could take as little as 2 if it weren’t for bi-weekly payment runs). And it's not just speed they’ve gained, it's also focus. Their auditors are no longer bogged down by rudimentary expense checks. Now they can concentrate their attention on invoice processing and credit card charge follow-ups.

This is one area of business where patience is definitely not a virtue. Every day your employees carry expenses on their personal cards, they risk incurring interest, late payments, and damaged credit scores. All these can turn into a web of financial strain, affecting both morale and productivity. AppZen uses the most mature finance AI platform on the market to catch duplicates, internal and regulatory compliance issues, wasteful spend on foreign receipts, and more, delivering reimbursements with swift efficiency.?

Are your employees performing a high-wire act of juggling business expenses on their personal cards, hoping the net of reimbursement arrives before they fall into a pit of financial penalties?

Don’t leave them hanging. ?

#appzen #financeAI #expensemanagement #creditcard #businesstravel