Expense Management - A concise - and light - history and outlook for the future
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1 CORPORATE SERVICES EXPENSE MANAGEMENT SOLUTIONS American Express Global Corporate Services Mitch Stevens, Senior Vice President, Global Business Development June 7, 2004 Expanding Frontiers of Expense Management
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A PowerPoint/speech prepared for American Express SVP of marketing for Corporate Services, addressing a press luncheon of financial-sector & e-commerce reporters.
Transcript of Expense Management - A concise - and light - history and outlook for the future
1CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
American Express Global Corporate Services
Mitch Stevens,
Senior Vice President, Global Business Development
June 7, 2004
Expanding Frontiers of Expense Management
13CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Key Trends
• Today’s Corporate Finance trends… – Greater need for control and accountability– Focus on process savings
• Automate multiple business functions
• Reduce employee burden
• Reduce accounting costs
– Focus on cost of goods • Better data for supplier negotiations
• Better data for policy compliance
14CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
New Products
…are driving next-generation Card product developments :– Corporate Meeting Cards
– Corporate-Defined Expense Cards
– American Express @ Work Expense Reporting/CPC Reconciliation
– Co-branded airline cards
– Savings at Work supplier discounts
– 120+ countries in Global Data Repository
15CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Tighter Control
• Corporate Card program becomes a “dashboard” for corporate spending– T&E is very tightly controlled expense– Online tools enable spending to adjust to
economic cycles w/real-time monitoring• Online program tools replace 80% of service calls• Online reporting replace >90% of paper reports
– Companies extending this dashboard to everyday spend
16CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Delivering Savings
• Identify & quantify savings opportunities: – Defined Expense Card = no more cash advances
– Meeting Card = lower administrative costs, more clout
– Consolidated spend data online = negotiating leverage
– Automated data feeds = reduced accounting burden
– Automated expense reporting = productive employees
– Card-based supplier discounts = savings for mid-size companies lacking in negotiating clout
17CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Future Outlook…
Drive savings
Benefit employees
Maximize control
Manage globally
18CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Introducing the Innovators
Lorraine RostanzoDirector, Global Travel and
Support Services
WR. GraceGreenville, S.C.
