Traveling for business comes with planned and unexpected expenses. Most expenses can be anticipated, and each business must have a process in place for spending. Decide which employees will be able to use company funds, and restrict the use of these funds to needs related to their department or specific job duties. This process must involve your company’s finance department and be approved by upper management, then communicated to every employee with access to a spending account.

The old school reporting system consisted of piles of receipts and tedious paperwork to fill out. Another drawback to that system is that spending had already occurred by the time reporting would take place. Proactively setting controls which prevent excess spending before it happens will eliminate many of these issues. Prepaid card systems reduce waste by specifying authorized expenses in advance.

Consider moving to an automated system, which can be easier to track, and reduces time and effort spent recording. A platform that offers a mobile app will make record-keeping much simpler. Using an app to manage account permissions will give you the flexibility to adjust limits, so emergency expenditures can be authorized when necessary.

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