How would you rather spend your time at the end of the month: emailing back and forth with your client for several hours to track down expense reports and receipts, or creating a cash flow analysis for your client using expense data that was collected as each transaction occurred?
Many of the expenses you need to reconcile on each expense report will occur on a corporate credit card —which your client might have chosen based on its rewards. But only certain employees are able to make purchases on the company card. There will be some inevitable expenses on employees’ personal cards that require reimbursement.
Unfortunately, you and your client only have visibility in arrears, instead of a clear picture of what they (and their employees) are spending in the moment. This spend may not adhere to the company’s expense policy—which leads to an awkward rejection of the reimbursement—and you can’t tell how much is spent until after the fact. Your staff can’t project client cash flow and clients can't enforce their budgets before spend occurs.
What you need is a tool that will give your firm real-time visibility and empower your clients to enforce their budgets and stay on top of spend.
