American Express has joined forces with SAP Concur, a software-as-a-service (SaaS) company, for automating invoicing and expense management processes for its business clients.
The partnership involves two digital integrations. The first offering entails the integration of American Express business or corporate cards with the ‘Concur Invoice’ solution.
Concur Invoice uses machine learning to capture and automate paper and electronic invoices and bring all the payment to a single system for reduced processing times.
The solution allows finance and accounts payable departments to pay suppliers securely, and manage cash flow, noted American Express.
The second offering entails the integration of American Express business cards with the ‘Concur Expense’ product.
Concur Expense provides small businesses access to digital expense reporting.
The Concur Expense integration provides businesses with a streamlined expense report process, with reduced data entry errors through automation and greater spending visibility and reporting.
Moreover, the integration of American Express Go virtual cards will allow corporate clients to manage purchases made by employees and contractors.
American Express VP of B2B payments automation Trina Dutta said: “Operating a business is always challenging and it is especially so in today’s highly uncertain economic environment.
“American Express knows businesses are pressed for time and looking for ways to operate digitally and our offerings with SAP Concur will help businesses operate more efficiently.”