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A Qorbis report

Households across the U.S are facing increasing pressure as the cost of living crisis threatens to give way to a full-blown recession. It’s a worrying time for individuals and businesses, but Americans are known for their ingenuity and resilience, so much so that historically, economic downturns are often periods of significant innovation.

One such innovation that’s trending globally is the digitization of business processes, and expenses in particular. Expenses are a notoriously tricky but essential part of most businesses and digitizing them is a way to lower costs, improve cash flow, and importantly, keep workers happy.

We believe every business should have access to better digital expense management, which is why our as-a-service, cloud-based approach is such a game-changer. Our clients benefit from all the advantages of a digital solution but avoid the significant investments that are associated with traditional IT-based versions.

Please feel free to reach out to discuss how we can help you and your staff benefit from the latest in corporate spending and expense management.

Stephen Williams
CEO & Co-Founder of Qorbis
Successfully navigating the challenge of employee expenses

Soaring costs for businesses and individuals are highlighting the shortcomings of traditional pay-and-claim reimbursement models, with a new breed of digital expense management systems stepping in to fill the gap.

Expense management is a notoriously challenging aspect of business operations. Add in the current cost of living crisis and finding a solution that effectively balances the interests of both employer and employee becomes more of a priority than ever.


The predicted increase in the cost of the same basket of groceries compared with 2021

Businesses are facing the fallout from rising costs and supply chain issues, further challenging finance teams to not only balance costs and expenses against profits effectively but also maintain proper records in case of audits or inquiries from tax authorities. All this before considering the month-end shock of a flurry of higher-than-predicted expense claims awaiting reimbursement in times of lower-than-predicted cash flow.


The predicted increase in business travel airfares in 2023 since 2021.

Inflationary pressure has significantly affected costs across the board, with the U.S. rates reaching a 40-year record high in 2023. Food prices, transportation expenses, and healthcare costs are putting a squeeze on the standard of living for many - making lengthy waits to be reimbursed for payments made on behalf of their employer a stress point for even the most conscientious employees.


The value of the business travel market worldwide, with the United States being the country with the highest rate of business travel spending, with each costing an average of almost $1300.

It’s clear that in these difficult times, it’s more imperative than ever for organizations to find ways to support their workforce that are not only innovative and compassionate - but efficient enough to be cost-effective.

The age of expense reimbursement is over

Gone are the days of traditional reimbursements being an accepted and functional method of expense management.

Seventy-two percent of employees between the ages of 18 and 34 are expected to pay work-related expenses out-of-pocket and submit for reimbursement. For an entry-level employee making $35,000 a year, a $1,000 airline ticket is more than a third of their monthly salary before taxes. That’s a burden no one should be asked to take on. This style of reimbursement also negatively impacts businesses. It it hinders the type of real-time cash flow visibility that is required for effective decision-making and growth.

The problems with a pay-and-claim reimbursement model are numerous:

Digital expense management solutions: A win for employers and employees

Digitization is changing the way we communicate, how we bank - and now, how businesses can effectively manage expenses. Digital money management models with corporate spending cards like those offered by Qorbis offer significant advantages to both employers and employees, including improved cash flow, efficient expense processing, and complete control over spending.

Talk to us today and book a demo to see how Qorbis expense management solutions can benefit both your business and your workforce.