2 ways to stop corporate credit card misuse
Worried employees may be tempted to use their corporate credit cards improperly? Consider adding these measures to your company’s T&E policy.
The Association of Corporate Travel Executives and Citi recently surveyed companies about their corporate credit card policies. Here are some of the highlights of the findings.
No surprise here: Companies that used their corporate card most frequently (capturing at least 75% of total spending on their cards) had the most stringent policies in place for employees. Sixty percent of these organizations had a centralized policy across their entire organization.
To prevent employees from misusing the corporate card, these companies employed the following safeguards:
- Revoking card privileges when staffers run afoul of company policy (30%), and
- Not reimbursing expenses that fall outside of the company’s policy (20%).
- Share on
Free Training & Resources
Further Reading
What are the three hardest words for any leader to say? If you’re thinking, I don’t know, guess what? You nailed it. Mos...
The Federal Trade Commission (FTC) ban on non-compete agreements won’t go into effect in early September and is doubtful to become th...
Ever wondered why Excel features a currency format as well as an accounting format? You’re not alone. The reason is, creating Exce...
Why do you have to be so busy? You know there isn’t a trophy for busyness, right? In fact, the best business isn’t about bu...
2023 promises to be a very challenging year for Accounts Receivable departments. The word from many in the A/R and credit & collections...
Because your A/P staff is so good at keeping important bills paid, it unfortunately makes them a prime target for payment fraud email campa...
