American Express Company (NYSE:AXP) is expanding its long-standing relationship with tech giant Microsoft (NASDAQ:MSFT) to develop various solutions focused on reducing business travel friction for employees and businesses, the companies said Thursday.
All of the solutions will be built on Microsoft Cloud and artificial intelligence technologies. The first one is set to enhance clients’ existing expense management processes by simplifying and automating manual expense reporting and approvals, bolstering audit efficacy, and streamlining reconciliation and reimbursements for accounting teams.
That particular solution, through the use of AI and machine learning capabilities, will be piloted by Microsoft (MSFT) later in 2023 via integration into the company’s internal expense system. Other American Express Corporate clients will gain access to the solution over time.
“Every company has an increased need for control and compliance with expenses,” said Gunther Bright, executive vice president, Global Commercial Services at AmEx. “Now imagine a future where the majority of your expenses are simply ‘auto-submitted’ and ‘auto-approved,’ requiring no manual intervention and adhering to your companies’ policies and spend limits.”
At the end of January, AmEx rolled out Business Blueprint in small business push.
American Express works with Microsoft to reduce business travel friction
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