Companies are giving more of their employees corporate credit cards as they seek easier expense tracking and savings from suppliers.
Software company BlackLine Inc. BL 0.24% began offering employees corporate credit cards 12 years ago when chief executive Therese Tucker realized some staff couldn’t afford to wait until they were reimbursed for work expenses.
“Most people are bad at personal finance,” she said. The corporate credit-card program removed the stress on employees’ personal budgets while allowing BlackLine to easily track work travel expenses, she added.
The use of corporate cards and other payment technologies is on the rise. About one in five finance departments said they would invest more in company-backed credit cards this year, according to a report by Strategic Treasurer, a consultancy.
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