3 Practical Tips for Effective Expense Management

 

We know expense management can often feel overwhelming and it’s difficult to know where to start with digital transformation.  

Not to worry, Christian Elsaesser, Managing Partner and Director at ExpenseBrain, believes practical solutions can make a world of difference.  

ExpenseBrain is a German-based consultancy dedicated to digitalising business travel management processes. Their services include system selection, project management, and implementation for travel booking and expense reporting systems. By focusing on tailored consulting, ExpenseBrain helps organisations optimise their travel expense workflows to enhance efficiency and reduce costs. 

Why expense management is key in 2025: 

Expense management is no longer just a back-office function, it should be a strategic priority. Companies are increasingly adopting tools like virtual cards and granular data tracking to ensure compliance, cut costs, and meet evolving ESG (Environmental, Social, and Governance) standards.  

In 2025, the ability to provide real-time reporting and seamless user experiences will set companies apart in retaining talent and managing budgets efficiently. 
At The Expense Summit 2024, Christian provided clear, actionable advice for companies looking to enhance their T&E management processes. 

3 practical tips for effective expense management 

1. Harness the flexibility of virtual cards 

Less plastic? Less hassle. 

With virtual cards you can easily cancel, freeze, and reorder cards in just a few minutes. This instantly eliminates the stress associated with lost or stolen cards. 

“Virtual cards offer customisation, such as spend controls based on merchant categories,” explained Christian. “They empower employees while ensuring compliance, making them a practical solution for diverse company needs.” 

Virtual cards are becoming a go-to tool for companies seeking both flexibility and control in their spending strategies. 

2. Implement data-driven budget management 

Modern solutions offer a lot more transparency into exact spending patterns and trends. Technology can be on our side if we know how to use it.  

“With corporate cards, we capture more data points than ever before, enabling real-time tracking,” Christian said. “This doesn’t just improve compliance, it also supports granular reporting, such as tracking CO2 emissions for individual expenses.” 

ExpenseBrain’s focus on data-driven insights underscores the growing importance of real-time information for decision-making and compliance. 

3. Include users in the conversation 

It’s important to include the user in the conversation, not just the technical experts. Understanding user needs ensures the solution is practical and effective. 

This user-first mindset is key to successful expense management implementation. When employees understand and trust the tools provided, adoption rates soar. 

ExpenseBrain’s expertise lies in combining cutting-edge technology with a practical, user-centric approach, making it a trusted partner for organisations seeking to optimise their expense management. 

Get the full picture 

For more practical advice from Christian and insights from all four panelists, watch the full panel discussion from The Expense Summit. See how the experts are tackling the future of expense management.