If your Finance, AP, or Procurement teams find managing expenses a troublesome venture, they’re not alone. Three of the most common challenges to managing expenses also depend on having the right controls and efficiencies in place. Once these controls are in place, they too need to be managed. Whether your team handles global or local expenses, travel, procurement, or invoices, these challenges can lengthen the time to manage expenses and lessen the effectiveness of internal controls:
- Lack of visibility into spend data
- Unclear policies or actions for enforcing policies
- Paper-centric processes
When these challenges aren’t met, protecting company dollars with adequate controls and greater efficiencies in the P2P process is at risk. Monitoring expenses is an essential control for large, global, medium-sized businesses, and growing companies in reaching financial and program goals. To achieve these goals, Card Integrity monitors 100% of expense data and provides comprehensive solutions to the three most common challenges that will protect, detect, and communicate expenses.
Protect expenses with controls in place before employees make purchases
Detect red flags in credit card transactions across expense types and systems
Take the power of spend analysis results and communicate spend patterns to all parties involved
How Card Integrity can help
Card Integrity is built on a suite of services that can work in tandem to protect, detect, and communicate your spend. Tracking expense data is an important aspect of getting a better picture into your business’s financial health. But instead of only focusing on tracking expenses, Card Integrity provides comprehensive coverage of the expense review process with solutions that are geared toward strengthening controls to protect expenses from potential fraud and maverick spending, detect potential red flags in the transactions, and communicate findings with reporting and notifications.
Find a solution suited to your expenses and program goals
By examining the entire expense review process, we have created comprehensive solutions suitable for customers in a variety of circumstances and at various stages of their program development.
Find a solution that works best for protecting your expenses based on your organization’s current situation and program goals. Look for solutions by
Card Integrity Services to deter common expense challenges
Discover a service that will work best for your organization and bring a solution to your most common expense challenges.
The traditional way of doing cardholder training in-person has pivoted due to the current work environment. Now more than ever online cardholder training services can keep your team and your employees informed on policy.
Paper-centric documentation can be curtailed with Card Integrity’s ReceiptWISE service.
Expense monitoring comes with a team of financial professionals and an in-house tool to track hundreds of red flags, looking for patterns and trends in expense data.
Card Integrity has expense monitoring for all kinds of expenses, including reviewing expense data and tracking for duplicate expenses across expense types.
Start By Looking at Your Expense Type
Whether your team calls it a Purchasing Card, ProCard, or Procurement Card, Card Integrity can protect, detect, and help communicate expenses for your card program.
Corporate credit cards, an expense type for your travel expenses, makes employee travel a breeze. Keep that trend going with expense reviews that are easier to manage too.
Having all expenses for travel and office supplies on one card can help keep the spending in one place. Need help reporting on expense types and adhering to separate policies for each? Card Integrity provides services tailored to your unique program.
Fleet or Fuel Card
Transportation and Fuel for your fleet have their own set of policies and procedures to control spend. Card Integrity has the services to protect your transportation spending and keep them driving.
Even cash reimbursements can prove to be a challenge when you also need to review these next to other expense types. See how Card Integrity takes the concerns out of unseen double spending.
To learn how Card Integrity services can help with your specific expense types and systems, reach out to us for a quick 20-minute brainstorm and see what solutions you can find for your program.