X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Bristol-Myers Squibb (BMS) is dedicated to discovering, developing, and delivering innovative medications to improve the health of patients around the world. A couple of years ago, the company’s internal travel and entertainment expense (T&E) processes desperately needed an injection of efficiency. Employees who traveled on company business were given a corporate card. Unfortunately, the card was not widely accepted in some of the regions where the global biopharmaceutical firm had operations.

Employees who traveled where the corporate card wasn’t accepted used their personal credit card to cover T&E, then expensed their purchases through BMS’s expense management tool. Some became so accustomed to this process that they started using personal cards for all expenses, even with vendors that would have accepted the corporate card. This was problematic because it reduced the ability of sourcing managers to monitor corporate travel spending.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

More from this author

Dig Deeper

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.