American Express and American Express Global Business Travel Launch New Integration to Help Streamline Spend Management for Small Businesses
05 March 2024 - 1:00AM
Business Wire
American Express (NYSE:AXP), American Express Global Business
Travel (NYSE: GBTG):
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What it is:
- American Express, a leader in global business payments, and
American Express Global Business Travel (Amex GBT)1, a leader in
B2B software and services for travel and expense, announce a new
integration to help small and mid-sized businesses manage their
spend and expenses.
- American Express is making it possible for businesses to issue
a virtual Card (a dynamic payment option that replaces a physical
card number with a digital Card number) for their employees via
Amex GBT Neo1, a spend management platform. U.S. Card Members must
enroll in Amex GBT Neo1. Once enrolled, Card Members can simply add
eligible American Express® Business or Corporate Card accounts into
the platform2.
- The seamless integration of American Express virtual Cards into
the Amex GBT Neo1 spend management platform supports automated
expense management processes by combining the capabilities of an
expense system, procurement platform, online business travel
booking tool, and virtual Card issuance into a single smart
ecosystem.
Why it matters:
- The new American Express and Amex GBT integration provides
small and mid-sized businesses with better visibility and control
over a range of employee spend including budgeting, purchasing with
virtual Cards, booking business travel, and streamlined expense
processing.
- Manual employee expense management processes cost businesses
significant time and money and are prone to human error - issues
that are only magnified for small and mid-sized businesses with
more finite resources. More than a third (37%) of financial leaders
say processing expense reports is a drain on time, according to
Amex GBT.
- Digital payments like virtual Cards can help address these
issues, as they help automate the expense management process,
including employee spend management, with the option for employers
to set specific spending controls and permissions.
- Businesses are looking for a seamless management solution that
minimizes the traditional complexities of manual expense
processes.
How it
works:
- With the new integrated features in Amex GBT Neo1, businesses
can set budgets, and issue American Express virtual Cards as
payment options with controls that support their business needs and
help make better, faster purchasing decisions.
- The new integration provides customers with:
- All-in-one platform: Businesses can approve and manage
budgets, connect accounting systems, efficiently submit, reconcile,
and approve payments in one place, and configure visual dashboards
for greater visibility into company spend.
- Travel: Businesses can access Amex GBT’s marketplace,
with comprehensive and competitive air, hotel, car and ground
transportation services along with exceptional 24/7 traveler
support.
- Virtual Cards: Businesses can generate and assign
American Express virtual Cards to specific users with flexible
parameters to control employee spending, while also enabling
individuals to spend online or at point-of-sale through their
mobile wallet.
- Transaction Data: Businesses get near real-time
visibility to review and reconcile spend within a single
platform.
- Built-In Integrations: Businesses have the ability to
access built-in integrations to leading supply marketplaces and
finance systems without the need for complex system
integration.
- Mobile App: Businesses have app access to capture
receipts and book travel on the go.
Who it’s for:
- American Express’ integration with Amex GBT Neo1 is available
for small to mid-sized U.S. businesses with eligible American
Express® U.S. Business or Corporate Cards that are seeking an easy
way to plan, monitor, purchase, approve, and reconcile employees’
business spending.
American Express and Amex GBT
on-the-record:
- “American Express and Amex GBT are coming together to help
improve spend management for small businesses. We know managing
employee expenses is becoming more complex, and our small business
customers are looking for a solution that combines a range of
features and capabilities,” said Dave Holmes, Vice President,
Enterprise Strategic Partnerships, American Express. “Now, for the
first time, businesses have access to American Express virtual
Cards within Amex GBT's Neo1 platform, providing a better way to
manage a variety of business expenses.”
- “We see businesses of all sizes facing increased complexity
managing growth, spending and productivity,” said Fiona Hastings,
Vice President of Neo1, Amex GBT. “Growing businesses simply don’t
have time for cumbersome expense reports, disjointed budgeting
processes, and the hours it takes to rebook and support more
frequently disrupted travelers. Amex GBT is excited to bring Neo1
to more small and mid-sized businesses through our partnership with
American Express, to help them overcome today's spend management
challenges while paving the way for a smart, more efficient future
where all employee spending needs can be serviced in one place,”
added Hastings.
Learn more:
- To learn more about the American Express and the Amex GBT Neo1
integration or to register, visit here.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
threads.net/@americanexpress, tiktok.com/@americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: personal cards, business cards and services, travel
services, gift cards, prepaid cards, merchant services, Accertify,
Business Blueprint, Resy, corporate card, business travel,
diversity and inclusion, corporate responsibility and
Environmental, Social, and Governance reports.
ABOUT AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL
American Express Global Business Travel (GBT) is the world’s
leading B2B travel platform, providing software and services to
manage travel, expenses, and meetings & events for companies of
all sizes. We have built the most valuable marketplace in B2B
travel to deliver unrivalled choice, value and experiences. With
travel professionals in more than 140 countries, our customers and
travelers enjoy the powerful backing of American Express Global
Business Travel.
1 GBT Travel Services UK Limited (GBT UK) and its authorized
sublicensees use the [“American Express Global Business
Travel”/“American Express GBT Meetings & Events”] trademark
under a limited license from American Express. “American Express”
and the American Express logo are trademarks and the property of
American Express Company or its affiliated or related companies
(American Express). GBT UK is a subsidiary of Global Business
Travel Group, Inc. (NYSE: GBTG). American Express holds a minority
interest in GBTG, which operates as a separate company from
American Express.
2 Card enrollment required for eligible American Express
Business and Corporate Cards. Separate enrollment with each of Neo1
and American Express is required to utilize combined product
offering. There is no fee to generate American Express virtual
Cards. Other fees on the Neo1 platform may apply. For you to make a
Card payment through the service, the supplier must be an American
Express accepting merchant. Please contact your Neo1 representative
or email help@neo1.com to learn more.
Source: American Express
Location: U.S.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240304014854/en/
American Express Megan Hunsicker,
megan.c.hunsicker@aexp.com
Amex GBT Taylor Aaron, taylor.aaron@amexgbt.com
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