Set clear and enforceable expense policies
Develop a clear company credit card policy outlining acceptable uses, spending limits, and employee responsibilities.
Right card for the right job
Issue corporate cards based on spending needs. Issue corporate cards or virtual cards based on spending needs and avoid using personal cards for business expenses.
Regular monitoring and reconciliation
Review card statements and reconcile transactions to identify discrepancies and potential fraud early on.
Automate expense tracking and reporting
Use an expense management tool like Fyle to automate expense tracking and receipt collection, categorize transactions, and simplify reporting for employees and finance teams.