Expense management software is a critical piece of the puzzle for delivering timely, accurate visibility into employee spend. Modern, mobile-centric solutions make it easy to capture and submit expenses, and the sophisticated automation underpinning these systems can also ensure that spend is correctly categorized, and mistakes are minimized, both of which have a huge impact on timely, accurate spend visibility. The process can be further improved with the addition of business or corporate credit cards, which, when combined with an expense automation solution can deliver even more granular and timely insight.
This is why the newly announced integration between Emburse Spend and American Express is especially exciting, as it enables commercial Card customers to get greater spend insight and control from their Cards. American Express Business, Corporate, and Corporate Purchasing Card customers can simply connect their program to Emburse Spend in order to benefit from its sophisticated card and expense management capabilities.
Once connected, enrolled Card Members can issue and manage American Express virtual Cards with built-in spend controls to any authorized user, from a central dashboard. This allows organizations to channel more spend through their Card program, streamline accounting, and minimize out-of-policy spend. Instead of having a limited number of Cards across the organization that increases the likelihood of misuse and misplaced transactions, virtual Cards can be created for a specific vendor or even a single transaction. Card Members can place a variety of restrictions on how each Card can be used, to reduce the likelihood of unauthorized purchases. Card Members can also easily see how much has been spent on each virtual Card in real-time, and can dynamically adjust budgets or add further spend parameters.
The other huge benefit that Emburse Spend offers American Express commercial Card customers is a streamlined and highly automated expense management process. Once a Card is enrolled and a purchase is made, Card transactions automatically flow into the expense system. Users are prompted to capture an image of the receipt, and then Emburse’s sophisticated receipt management capabilities will automatically match the receipt and the Card data to create an expense item. Even better - because spend controls are pre-configured into virtual Cards, the finance team can be assured that purchases are within policy, making reconciliation and accounting even easier. All of this leads to faster, deeper visibility into Card spend, giving finance teams the visibility they need to make smarter, more timely decisions.
American Express’ Business, Corporate and Corporate Purchasing Cards are used by millions of business professionals at many thousands of small and medium organizations across the country. Many organizations still rely on manual expense processes and card reconciliation, which can seriously impact their ability to control employee spend and deliver timely and accurate information to the finance team.
With this integration between Emburse Spend and American Express, finance teams will be able to drastically improve their control and visibility of employee spend, while also making their teams’ lives easier. If you’re an American Express commercial Card customer and would like to give it a try for yourself, click here for more information or to schedule a demo.