Choosing an expense management solution for your business is a difficult and often time-consuming process. However, if your solution is in line with your business goals, it can save your company time and money, while reducing overhead and employee turnover. If your business is making one of these employee expense management mistakes, learn how you can optimize your expense management system with PEX Card.

2. Complicated
Reimbursement Process
If you’re using a reimbursement process for
company purchases, ensure the process is as
seamless as possible. Reimburse your
employees in a timely manner to avoid
employee turnover.

3. Exposing Company
to Credit Risk
A credit card solution is great for building
your businesses credit—but can also
expose your company to risk. Ensure you
know who has access to the company
cards, and check your statements regularly.

4. Petty cash can be hard to track and difficult
to manage. Businesses larger than 100
employees should not rely on a petty cash
system.
Relying on
Petty Cash

5. Credit card solutions allow you the flexibility
to purchase funds while freeing up liquid
capital. However, if transaction fees and
interest rates are adding up, consider a
business debit card solution.
Transaction Fees
and Interest Rates

6. As businesses change and grow, so do their
expense management needs. Outgrowing
your employee expense management
solution can cost thousands in unnecessary
expenses and employee time.
Outgrowing
Your Solution

7. Companies that utilize prepaid business card
solutions save up to 35% when comparing
actual spend versus budgeted spend for
business travel due to tighter controls.
Unnecessary
Travel Expenses

8. Manual expense reports eat up time and
money. By streamlining your expense
reporting process, you can save on your
company overhead and free up capital to
invest back in your business.
Burdensome
Expense Reports

9. Many corporate credit cards require an
authorizing officer to sign for the account,
and they can be held personally liable for
the company’s debt. Switching to a prepaid
business card solution will add a safety net
for your employees.
Exposing Employees
to Credit Risk

10. There’s often room for misuse of company
funds by employees, whether intentional or
not. Use an employee expense management
solution that allows you to set spending limits
and increase control over which employees
have access to funds and where they can use
their card.
Loose Financial
Controls

11. In an emergency situation, it’s essential
to have a way to get employees the
funds they need. Business prepaid card
solutions allow you to transfer funds
24/7 from your smartphone or
computer.
Inflexible
Expense Solution

12. To learn more about
how to manage
employee expenses,
go to pexcard.com
1-877-274-3390