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
Webinars
Provided by Insightsoftware
White Papers
Provided by Personify Health
Further Reading
Late or slow payments continue to stall progress for today’s finance teams. These delays often stem from large organizations renegotiatin...
It’s not too late to get tax relief in the form of the Employee Retention Credit that was created as part of the CARES Act in 2020, t...
AI and machine learning technology is giving companies an edge like they’ve never enjoyed before. Businesses can pinpoint exactly whi...
Do you work in — and have to work against — a Doom Loop? Whether you call it a Doom Loop or something else, you likely under...
The Internal Revenue Service has extended corporate, business and individual tax deadlines out to June 17 for San Diego, Detroit and dozens...
Studies show employees miss a couple of days of work every year due to stress. Then there are the folks who come into work anyway but are t...
