Australian leading virtual corporate card expense management company, DiviPay, has released its Working From Home Has Killed the Office Credit Card whitepaper. The report provides an in-depth analysis of corporate card spend management in Australia, including new data on how the archaic methods of corporate expense management and reimbursements is contributing to growing employee dissatisfaction in the workplace.
Insights include:
- Over a third of the employees surveyed (37%) admit to putting off work-related purchases to avoid out-of-pocket spending
- Almost half (47%) of Australian employees who’ve paid out of pocket in the last year admit to feeling anxious or worried about reimbursements.
- Over half (59%) of employees surveyed would prefer to work for a company that provides access to a corporate card.
- It explores corporate expense management difficulties and the delicate balance required for CFO control and confidence, employee flexibility and how many Aussie businesses aren’t getting it right
- However, as the whitepaper highlights, in a time of inflation, tech layoffs and severe talent shortages, businesses need to be taking proactive measures to keep employees happy.
Russell Martin, Co-Founder and CTO at DiviPay, says:
“I’ve met with many CEOs and CFOs in my time and there’s definitely a disconnect when it comes to the importance of a streamlined expense management process. Employee wellbeing and job satisfaction have catapulted up the priority list with many companies offering a myriad of perks to bolster culture, engagement, trust and productivity – yet somehow work reimbursements seem to slip the net.
“Our research has shown that employees are experiencing high levels of anxiety when claiming back work expenses but this is something that is easily fixable. Having a robust, easy-to-use platform for corporate claims may seem like a small initiative but it can make all the difference to an employee’s job satisfaction and will be crucial for employee retention.”
You can find the full WFH Has Killed the Office Credit Card report here.