Corporate Expense Management - Credit Card Interface
| The WebExpenses credit card interface reduces processing costs and improves data quality by prepopulating expenses with corporate credit card data. |  |
As long as your card provider can send you the data electronically, you'll be able to populate your employees' expenses.
Get more from your corporate card programme
Few products complement each other better than a corporate credit card and a web-based expenses solution.
The banks that issue credit cards and their business customers have long been aware that corporate card programmes suffer from a fundamental weakness: While banks can provide their customers with an electronic file of their consolidated card data, there is no easy way of gathering and integrating the additional data required, such as a description of each item and client or project information.
As a result, most organisations rely on their cardholders to add this information to the paper statements manually. Once the cardholders have returned the paper statements, the data is rekeyed manually to the accounts. Needless to say, neither the cardholders nor the accounts team welcome this additional work.
This issue is resolved by using an expenses solution together with your corporate credit card.
We've implemented solutions for cards issued by Barclaycard, RBS Natwest, American Express and HSBC amongst others. In general, if your card issuer can supply electronic data, we’ll be able to populate your expenses with that data.
Business expenses data: How it works
| 1. At the end of each month the card-issuing bank sends an electronic file of an organisation’s corporate credit card spending. The customer follows a simple procedure to upload this file to WebExpenses. |
| 2. Expenses are now populated with credit card data and employees are able to add additional information to each item. |
| 3. The expense report then moves through the approval process before the consolidated data is posted to the relevant ledgers. Never again will the accounts staff have to chase credit card statements and the rekeying of credit card data is gone forever. |
Note that the credit card interface complies with best practice security procedures and card data is never transmitted unencrypted.
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