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4 Reasons Why Invoices Are Still The Best Way To Pay For Business Travel Expenses

Posted on: September 12th, 2014 by admin

If you’ve been following payment technology, you might have heard of the new “tap and pay” NFC payment model. Just tap your card (or phone) against a machine and your payments have been processed! But is it safe and is it secure? When traveling, one of the biggest concerns a person has is having their identity stolen. Whether online or in paper, invoices remain the most secure and easiest way to track and manage business expenses.

1. You Don’t Expose Any Of Your Payment Information

Paying with checks and credit cards always expose you to some level of risk. If you’re traveling out of state (or out of country), paying with a credit card could easily expose you to identity theft. When you hand over a check, you’re handing over all your bank account details. By using invoices, you can limit the amount of people who have your credit card and banking information — and let your company take care of it for you. You can’t hack an invoice!

2. You Can Review Your Charges

You can’t always go over your charges when you’re in the moment, especially when you’re rushing off to a meeting. Getting invoices sent to you later gives you time to review your charges to ensure that they are accurate.

3. You Can Negotiate Expenses Ahead Of Time

Instead of guessing as to what your business expenses will be, you can create a relationship with a vendor and negotiate charges in advance. This increases the consistency of your business expenses and ensures that there are no surprises. Additionally, you may be able to negotiate discounted rates or added perks.

4. You Don’t Need To File For Reimbursement

Perhaps one of the greatest benefits to invoicing is that you don’t need to track your expenses and request reimbursements. Everyone has forgotten to record a business trip expense from time to time, and the entire process of requesting reimbursement can be lengthy. By having invoices sent directly to your employer, you don’t need to worry about it. If you’re the employer, you can cut down on paperwork by receiving invoices directly rather than having to verify and sort through employee reimbursement sheets.

For your ground transportation needs and other travel expenses, it’s always ideal to maintain a relationship with a specific vendor and to remain in control of your payment options. Credit cards, checks and cash can all leave you vulnerable at a critical moment — and some payment methods may expose you to unnecessary risk of identity theft.

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