Everything about Expense Management for Business

Simplifying Expenses for Every Organisation

Efficient expense management is vital for business success. At Caxton, we enable businesses to streamline their expense tracking with a powerful online platform and intuitive app, regardless of the card used.

What is Expense Management for Businesses?

Expense management is the process via which businesses pay and report on company expense claims. Travel expenses and accommodation costs, meal and refreshment allowances, postage costs, fuel expenses, telecom bills, parking fees – you name it, there’s an expense to cater to. And these will tend to grow in tandem with company growth. 

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What Is Automated Expense Management?

Automated expense management transforms the way businesses handle their expense processes, eliminating the need for manual data entry and complex spreadsheets. Employees can upload receipts and categorise expenses instantly, while finance teams enjoy real-time visibility and control over spending.

Learn more about how UK businesses benefit from Automated Expense Management.

WHICH IS BEST?

Manual vs Automated Expense Management

Is your business still relying on manual expense management processes? These traditional methods demand significant time and effort from finance teams and employees, increasing the risk of errors, delays and even potential fraud. Switching to an automated expense management solution will transform your business, helping to streamline processes, enhance compliance and ensure better spend control.

How Does Caxton’s Expense Management Solution Work?

With over 20 years of expertise, Caxton’s innovative platform simplifies business expense management and integrates seamlessly with accounting software for real-time visibility of employee spending. Key features include:  

- Prepaid and virtual cards: Issue and top up pre-paid cards for employees, usable in 35 million locations worldwide—perfect for domestic and international trips. Alternatively, use flexible virtual cards for secure, purpose-specific transactions.  

- AnyCard: A flexible new feature that lets employees use any card and seamlessly upload expenses to the platform.

- Expense Management App: Employees can scan and categorise receipts instantly, with auto-generated digital expense reports.  

- API Integrations: Streamlined data flow for effortless tracking and control.

VISUAL

Infographic: 8 Benefits of Caxton Expense Management

Introducing AnyCard for Businesses

Gone are the days when employees were restricted to company cards or petty cash for expenses. Caxton AnyCard empowers businesses to choose multiple card types for company spend, be it corporate, prepaid or personal, and seamlessly record them on a single, easy-to-use platform.

Here's how AnyCard can benefit your business:

✔️  Greater flexibility - employees can request to use their preferred payment method

✔️  Enhanced oversight and control with a centralised platform for all expense records

✔️  Improved reporting for better financial decision making

FREE GUIDE

Is Outdated Expense Management Costing Your Business?

Our 2024 Expense Management Research uncovered some alarming trends that might be affecting your company too. Here’s what stood out:

• 40% of businesses are still stuck with manual processes—wasting time and money.
• 13% of employees admitted to expensing non-work purchases—without anyone noticing.
• Companies that switched to automation are already seeing better cost control and happier teams.

Explore the full findings - Download your copy today.

 

UPGRADE YOUR EXPENSE POLICY

Ready-To-Use Expense Policy

Experience smoother, stress-free expense management with our popular template. Access clear guidelines on the claims process, authorisation, reimbursement and more. Easily editable, this 13-page document ensures employees have a comprehensive overview of expenses, preventing disputes and misunderstandings. It also guarantees finance teams remain compliant and process expenses efficiently.

THE RIGHT CHOICE

Is Caxton Right for My Business?

Effortless expense management is within reach with Caxton. Find out how Caxton empowers businesses to gain real-time visibility of spend, enhanced budget control, effortlessly navigate audits and more.

TESTIMONIALS

What Our Customers Say 

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Frequently Asked Questions

What is expense management?

Expense management is the process via which businesses pay and report on company expense claims. Travel expenses and accommodation costs, meal and refreshment allowances, postage costs, fuel expenses, telecom bills, parking fees – you name it, there’s an expense to cater to. And these will tend to grow in tandem with company growth.

What are the benefits of automated expense management?

Automated expense management improves control over company spend, saving time, reducing errors, improving spend visibility and simplifying reporting.

Are prepaid cards or credit cards better for corporate expenses?

Prepaid cards offer more control over spending, with a fixed budget and no risk of debt, while credit cards can lead to overspending and hidden fees.

What features to consider when choosing expense management software?

When choosing expense management software, look for features such as real-time expense tracking, receipt capture, integration with accounting systems and secure payment options like pre-paid cards or virtual cards.