expense management - a concise - and light - history and outlook for the future
DESCRIPTION
A PowerPoint/speech prepared for American Express SVP of marketing for Corporate Services, addressing a press luncheon of financial-sector & e-commerce reporters.TRANSCRIPT
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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
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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
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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
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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
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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
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17CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Future Outlook…
Drive savings
Benefit employees
Maximize control
Manage globally
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18CORPORATE SERVICESEXPENSE MANAGEMENT SOLUTIONS
Introducing the Innovators
Lorraine RostanzoDirector, Global Travel and
Support Services
WR. GraceGreenville, S.C.