GIVEN ALMOST HALF OF YOUNG WORKERS SAY THAT COST OF LIVING MAKES THEM WANT A COMPANY CARD TO PAY FOR THEIR EXPENSES UPFRONT , DEMANDS CAN ’ T CONTINUE TO GO UNANSWERED . spend on personal cards shows a lack of empathy .
“ On top of this , with 94 % of young workers citing long expense reimbursement processes as reason for the change , CFOs need to step it up . Really , it is good business sense to provide corporate cards . Instead of finance teams persevering through heavy batch processing to reconcile expenses at the end of a quarter , cards provide businesses with acute , real-time , deep-spend insights . employees wait for reimbursement . The numbers speak for themselves : finance teams that now use company cards save between five to 10 hours per month . Freeing up this time for teams is invaluable for business health and the employee experience , allowing CFOs to focus on more important goals such as financial planning and business growth .
“ Alongside this , leadership can relax knowing that the financial anxieties felt by younger employees are lifted . It ’ s a win-win opportunity as an easy – and free – way to show employees across the board that you care , humanising your workforce each penny at a time .”
Business card adoption and requirement remains low across the board
“ It doesn ’ t make sense for the finance arm to endure admin-heavy lifting , digging through paper-based , back-dated expenses , while
• Despite increasing need for visibility over finances , only one in 10 are required to use corporate cards for business purchases