American Express has launched a new digital expense management tool for businesses.

The app is available for UK Business Gold and Platinum cardmembers.

The platform is designed to simplify the expense administration process by eliminating the need to save paper receipts.

Digital receipts can be automatically matched against a transaction and the data can be integrated with leading accounting service providers, Xero, Quickbooks, and Sage.

The app also enables users to generate expense reports with detailed insights into employee spending.

The financial services company said that employees can also process their expenses in seven seconds by uploading a photo and enabling AI to fill in the detail.

“The accurate and prompt filing of expenses is an important part of any smooth-running business, but misplaced receipts and manual data entry can take hours out of the day for both finance team and employees,” said Evan Lubeck, vice president commercial products, American Express. “That’s why we created AmexExpense, to take the hard work and stress out of the process, making it simpler from start to finish.

"As many businesses plan for growth in the coming months, freeing up time to focus on boosting the bottom line will be more important than ever.”

Share Story: