Using the Expensify Card for business travel: A complete guide
Business travel has changed dramatically over the past few years. How often, where, and when people travel for work has been upended due to work-from-home opportunities and flexible schedules. Deloitte produced a travel study earlier this year which predicted, “full recovery to 2019 spend volume appears likely by late 2024 or early 2025, adjusting for lost growth and inflation indicates that in real terms, corporate travel will likely be smaller than it was prior to the pandemic.”
As companies adjust to this new normal and possibly look to ramp up employee travel in the near future, they need innovative solutions for controlling their employee’s travel spend. Luckily, Expensify customers can look to the Expensify Card to simplify the entire process of managing spend and receipts before, during, and after a trip. Let’s take a look at all the ways the Expensify Card can assist your team during their next business trip.
Pair the Expensify card with the Expensify mobile app
One of the primary advantages of the Expensify Card is that it’s built directly into the Expensify expense management platform. With this powerful combination, capturing and tracking business expenses becomes effortless. By simply swiping the card, expenses are immediately available for categorization and coding within the Expensify app, eliminating the need for manual data entry. If a receipt is required the employee will be notified to SmartScan a picture of it which will be automatically added to the expense record. Expensify can also generate IRS-guaranteed eReceipts for all but the largest of purchases, which means your employees.
Enable scheduled submit for automated expense reports
Say goodbye to delayed expense reporting and last-minute scrambles. The Expensify Card enables real-time expense reporting, empowering business travelers to submit expenses on the go. Expenses are automatically added to an ongoing expense report via our Scheduled Submit feature. Gone are the days of chasing down employees for receipts and expenses related to trips they took months ago. All expenses will be neatly compiled into reports within your company’s expense policy.
Reconcile seamlessly by integrating Expensify with your accounting software
The Expensify Card seamlessly integrates with popular accounting software, such as QuickBooks, Xero, Sage, NetSuite, and many more. These integrations streamline the expense management process by automating data synchronization between platforms. Business travelers no longer need to manually transfer data, reducing the risk of errors and improving overall accuracy. By facilitating smooth data flow, the Expensify Card eliminates the hassle of reconciling expenses, saving time and providing a comprehensive view of financials.
Advanced fraud protection for added security
Security is a top concern when it comes to managing business expenses. The Expensify Card addresses this concern with advanced fraud protection features. It leverages cutting-edge technology to detect potential fraudulent activities, such as duplicate transactions or suspicious spending patterns. With these security measures in place, business travelers can have peace of mind, knowing their expenses are protected.
Optimized cash flow
Cash flow management is crucial for businesses, and the Expensify Card helps optimize this aspect. By consolidating expenses onto a single card, businesses can gain better control over their spending and cash flow. Furthermore, the Expensify app provides real-time visibility into expenses, enabling businesses to make informed decisions and adjust budgets accordingly. This level of financial insight empowers organizations to allocate resources effectively and maintain healthy cash flow during and after business travel.
Conclusion
With its convenient expense tracking, real-time reporting, policy compliance features, seamless accounting integration, advanced fraud protection, and optimized cash flow management, the Expensify Card is a valuable tool for businesses and their traveling employees. By simplifying expense management processes and providing a comprehensive suite of features, the Expensify Card allows businesses to focus on their core objectives while ensuring accurate and efficient handling of travel-related expenses. Embrace the power of the Expensify Card and experience hassle-free business travel like never before.
