Travelling for business has become a fundamental part of the job in almost every industry—whether you're travelling to meet a potential new vendor or attending a healthcare industry event. Globally, workers in healthcare racked up 488 million miles in 20171—nearly 20,000 times around the earth. That volume of travel comes with a few challenges, from recording expenses to filing reports and keeping everything organised.
The challenges of T&E
Transferring expenses from your receipts to an expense report can be tedious and time-consuming. And delaying the process—because it’s monotonous—results in a delay in reimbursement.
At a large company, it can also be difficult to keep track of where the money is going. If expense reports are completed and processed by hand, it’s hard to gather data on spending categories and overall costs. This is a problem when T&E is a large line item in the budget, which is frequently the case. This can even cause bumps in corporate tax management, since travel is a business expense.
Making it easier to manage T&E
Thankfully, there are solutions to these issues. Using an American Express® Corporate Card for all your travel expenditures can help you manage all your T&E needs in one place.
The Card allows you to manage expenses within its Online Account or app, or even create your own expense reports that you can download from your monthly statements. You can download a report for either electronic or paper processing, depending on your company’s preference. Payment terms of up to 55 days2 can give employees time to reconcile their expenses and result in better cash flow management for the company.
American Express allows you to manage your T&E easily, simplifying everything and leaving you more time to focus on the important things.
1. SAP Concur analysed business traveller mileage data within Concur Expense spanning January 2016 through December 2017. The dataset included expense entries from Americas, EMEA and APAC.
2. The maximum payment period on purchases is 55 calendar days and is obtained only if you spend on the first day of the new statement period and repay the balance in full on the due date. No pre-set spending limit does not mean unlimited spending. Purchasing power can adjust with your Card, your payment history, credit record, financial resources known to us, and other factors. We reserve the right to apply temporary spending limits in accordance with the Cardmember Agreement.
