With travel and entertainment (T&E) costs counting as the second-largest expense at most companies–and with hotel, car rental and international travel costs projected to rise–controlling and cutting those costs is a top priority for most organizations. One approach taken by big companies is the use of T&E card programs to maximize their travel program and minimize the impact of rising business costs. Now, JPMorgan Chase Treasury Services has issued a report in which leading U.S. companies share their best practices on controlling and cutting those expenses by leveraging T&E card programs. Among the best practices highlighted in the report are the following: use T&E visibility and reporting tools to leverage vendor discounts, satisfy Sarbanes-Oxley requirements, manage delinquency and establish effective controls and business rules.
|Among those companies surveyed as part of the report include Chevron, ConocoPhillips, Sears and Starbucks. The free report is available from JPMorgan Chase.
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