The past two decades have seen a dramatic surge in the adoption of corporate card programs by businesses of all sizes. These programs mandate processes and infrastructure to control and monitor T&E spends and to ensure every expense is reconciled in compliance with government guidelines. At Fyle, we’ve built our corporate credit card reconciliation module to helps finance teams monitor, control and reconcile expenses, and make it easy for employees to claim and submit expenses on their cards. Benefits and challenges of a corporate card program While these corporate card programs have been around for a while, it’s only in the recent years that we have acknowledged the need for…

Do you spend hours of your productive time fyling your business expenses? Does your expense management software still require you to manually enter data? In a recent report published by Paystream, they surveyed over 300 respondents to understand their experiences with expense management software. We discovered that 23% of the companies use a dedicated expense management solution that’s a part of their ERP. 42% of the remaining companies use a dedicated tool, for the same. Even with such extensive use of tools, 62% of respondents still reported that manual entry and routing of expense reports as their single biggest pain point.

Are you an admin or an employee spending way too much on fyling and approving business expense claims? Business expenses are on a rise and the effort needed to manage them correspondingly is on a rise, as well. We are so engrossed in tracking down the hard numbers, that we often overlook the time spent in tracking them.