American Categorical One AP™ Helps Companies Digitize Accounts Payable and Scale back Time Spent on Guide Duties by Automating the Cost Course of
American Categorical (NYSE: AXP) launched American Categorical One AP™, the corporate’s first proprietary automated accounts payable (AP) resolution that allows U.S. companies to course of provider funds extra simply and effectively. The brand new American Categorical One AP, which is constructed on the expertise acquired as a part of the corporate’s buy of acompay™ in 2019, affords full end-to-end cost processing that helps a number of cost strategies, together with digital Card funds, examine, and ACH. The answer is designed to work seamlessly with companies’ present accounting programs.
“Amex One AP is the continuation of our journey to digitize cost processes and grow to be a vital a part of our clients’ companies. By automating the accounts payable course of with an revolutionary, end-to-end resolution, One AP makes it simpler for companies to pay for what they should function and in the end develop,” stated Trina Dutta, Vice President/Basic Supervisor B2B Funds Automation, International Business Companies at American Categorical. “Over the previous a number of years, we now have supplied our clients entry to a variety of digital cost instruments by way of a variety of ‘past the cardboard’ choices and B2B partnerships. We’re excited to launch Amex One AP, an automatic accounts payable resolution absolutely backed by the service and safety of the American Categorical model.”
At present, many enterprise leaders are looking for options to their cost course of challenges, significantly in gentle of the extreme disruptions brought on by the COVID-19 pandemic. With workplace operations at present bodily inaccessible for a lot of, the necessity to digitize cost processes is extra vital than ever.
“American Categorical One AP helped us by way of a vital time for our work; not solely have we been capable of streamline vendor funds, cut back prices and save time, however we’ve additionally been capable of proceed processing checks whereas sustaining needed social distancing protocols,” stated Javier Aceves, Chief Monetary Officer, Los Angeles Regional Meals Bank*.
In line with the current American Categorical One AP Survey**, 84% of U.S. enterprise resolution makers stated they really feel optimistic about transitioning to a digital funds system. Nonetheless, 79% of respondents nonetheless relied on paper checks for at the least a few of their provider funds earlier than COVID-19, and 44% stated nearly all of their funds weren’t made digitally earlier than the Pandemic. Respondents additionally acknowledged that digitizing their accounts payable course of can tackle widespread ache factors, with greater than two-thirds (68%) citing elevated effectivity and time financial savings as a vital cause to improve, in addition to bettering cost accuracy (43%), realizing long-term price financial savings (37%) and bettering cash circulation administration (34%). As well as, greater than one-third (35%) of respondents stated the impression of COVID-19 has made them contemplate altering how they course of funds.
The brand new American Categorical One AP is the corporate’s newest product in a set of options to assist companies handle funds, which embrace collaborations with a variety of main innovators within the cost options house, reminiscent of Invoice.com, Wex, Concur, MineralTree, Coupa, and SAP Ariba.
For extra details about American Categorical One AP and the corporate’s B2B options, please go to: https://www.americanexpress.com/en-us/enterprise/payment-solutions/accounts-payable-automation/
*Actual Card Member, conscious that his expertise is being shared.
**American Categorical One AP Survey Methodology:
This Morning Seek the advice of ballot was carried out between June 10 and June 12, 2020, amongst a nationwide pattern of 1,000 Small and Mid-Sized Enterprise Resolution Makers with firm revenues between $100 and $300 million. Outcomes from the survey have a margin of error of plus or minus three proportion factors.
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