Amex & Amex GBT Launch Expense Management Integration

American Express and American Express Global Business Travel (Amex GBT), have launched a new integration to help SMBs streamline their spend management. 

Per the launch, Amex will make it possible for businesses to issue a virtual card for their employees via Amex GBT’s Neo1. 

The B2B software and services provider for travel and expense, Amex GBT will offer its latest integration to enrolled US card members in its spend management platform Neo1.

Once enrolled, card members can add eligible American Express Business or Corporate Card accounts on the platform. 

Amex GBT Neo1: Supporting automated expense management

By accessing the Neo1 platform, businesses can benefit from 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.

For businesses, particularly SMBs, this gives increased visibility and control over a range of employee spending avenues, including budgeting, purchasing with virtual cards, booking business travel and streamlined expense processing.

The downsides of manual employee expense management have been evident for some time. The manual process costs businesses valuable time and money, and, of course, it is prone to human error. 

Indeed, per Amex GBT’s insights, 37% of financial leaders say processing expense reports remains a drain on time and resources. 

By distributing virtual cards, Amex and Amex GBT are helping to solve this issue – not only by automating expense management but also by providing employers with specific spending controls and permissions – so funds are spent per a business’ expense allowances. 

Dave Holmes, Vice President of Enterprise Strategic Partnerships at American Express, says:  “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.

“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.”

How does Neo1 work? 

Amex GBT customers can access the following when enrolled in Neo1:

○       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 spending within a single platform.

○       Built-In Integrations: Businesses can 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.

Fiona Hastings, Vice President of Neo1, Amex GBT, adds: “We see businesses of all sizes facing increased complexity managing growth, spending and productivity.

“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 travellers.  

“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.”

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