How to create a culture of responsible spending
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Managing operational costs is key for your business. As you build a strong foundation of systems and policies to create a culture of responsible spending, a well-executed commercial card program can help bring that culture to life. 
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Here are some key best practices to consider. 
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Start with a control strategy for your card program with policies covering everything from technology integration, to audit procedures, to reimbursement procedures. After you've implemented it, review your Audit, Compliance, and Decline reports regularly to identify areas for improvement. 
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You also need to communicate your strategy's policies broadly. 
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If your employees understand your policies and why they're in place, they'll make more responsible expense decisions. 
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Provide clear guidelines on what defines a reasonable business expense, whether for purchasing or travel. Mandating commercial card use, for instance, can provide more control over spending, as well as establish spending parameters based on job duties and budgets. 
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If employees are trusted to make financial decisions that follow those policies, they'll be more inclined to make sound choices and look for better deals. 
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Along with helping you enforce policies, commercial cards provide a wealth of transactional data. 
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Analyzing spending data can help you ensure expenses are business-related and compliant with your expense reporting policies. You should institute a formal review process. When employees know expense reports are regularly reviewed, they're more likely to adhere to policies. 
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Even the CEO should have their expenses reviewed, further fostering a culture of responsible spending, trust, and future growth. 
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With all transactional data in one place, you'll be able to gauge adherence and spot patterns of card misuse, like unusual merchant categories or purchasing activities. 
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A well-executed commercial card program can provide expense visibility and control, yet empower employees to make smart decisions within parameters they can respect. Your trusted financial partner can work with you to create a program tailored to meet the needs of your organization. 
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