American Express corporate payment solutions help businesses drive savings for growth
Cash flow always tops the list of priorities for businesses of all sizes. Corporations are continuously thinking of ways to manage cash flow more effectively while streamlining their administrative processes. According to research released by American Express, 45% of chief financial officers at mid-sized companies placed cash flow as one of the top three concerns in their operations.
Cash flow always tops the list of priorities for businesses of all sizes. Corporations are continuously thinking of ways to manage cash flow more effectively while streamlining their administrative processes. According to research released by American Express, 45% of chief financial officers at mid-sized companies placed cash flow as one of the top three concerns in their operations. In what these leaders describe as an uncertain investment climate and a challenging regulatory environment, effective corporate payment solutions to drive better cash flow management will come in handy.
For years, American Express has built its reputation on providing companies of all sizes with the payment tools and flexibility they need to grow their businesses or control their expenses. American Express works together with its corporate Card Members work together to help raise their businesses to the next level.
Shure Asia Ltd
• Shure Asia Ltd is the subsidiary and APAC regional headquarter of Shure, a leading US-based manufacturer of microphones and audio electronics.
• Shure’s diverse product selection ranges from wired and wireless microphones, conferencing and networked audio solutions, to in-ear personal monitoring systems, award-winning earphones and headphones, and top-rated phonograph cartridges.
• Shure Asia has been partnering with American Express for corporate payment solutions since 1999, and a member of the American Express Cathay Pacific Corporate Card since 2011.
Shure Asia has enjoyed multiple benefits by implementing the American Express Cathay Pacific Card programme, including: Asia Miles for both the corporate and Card Members; substantially reduced workload for its administration and compliance teams; much improved transparency in business expenses; and greater convenience for travelling associates. All these benefits have translated into better control and transparency within the corporation, and remarkable savings and rewards for not only the company but also its employees.
Shure Asia’s Regional Finance Director, Peter Schulz, says the customisable, online functions that are part of the American Express Corporate Card give him a leg up in managing costs. @Work – American Express’ web-based integrated data reconciliation portal, combined with the Concur Expense Management System, provides companies with automatic data feeds of all travel and expense charges make data easily manageable in one place. “Right away, we have an immediate audit trail of all expenses– who is charging them, what is the amount and the vendors. This enhances transparency and takes workload off from our associates’ hands,” said Mr. Schulz.
The @Work portal makes the life of Shure Asia’s travelling employees easier. “It gives transparency to all the transactions and provides capability and freedom to the associates as they can work on their expense reports online and see all charges coming through on their credit cards,” Schulz says. This allows effective tracking for users and help them to stay complied with relevant payment policies.
What’s more, with every eligible dollar spent, Shure Asia’s travelling associates are able to receive mileage as rewards. Benefits such as these not only give the company greater transparency, they can help increase employee satisfaction.
“Our purchase policies are now more specific about spending and spending limits. The customisation in American Express’ Corporate Payment programme enables us to control the spending limits with pre-set functions and approval flows. We can tailor the programme to meet individuals’ needs and job requirements, rather than just giving blanket spending limits across the board. It has changed the way we thought about using a corporate card,” Schulz notes.
Continental Global Service Ltd
• An e-commerce enterprise established in 2006, Continental Global Service provides third party logistical service shipping goods by air from Hong Kong to its offices and customers around the world.
• User of American Express Corporate Payment Solutions since 2014 and member of American Express Cathay Pacific Corporate Card.
Continental Global Service Ltd has seen American Express’ corporate payment solutions help realise real savings, which boosts their bottom line. Stanley Lee, President of Continental is impressed with the American Express’ international payment capabilities. “We use it to settle payments in different currencies, thus optimising foreign exchange rates. Using the American Express corporate payments programme, we’ve been able to reduce our operating expenses by 2.5%, which is a significant saving for a company of our size.”
Continental uses American Express’ Corporate Cards to settle all possible business expenses every month. According to the company, the card provides great convenience and helps streamline its payment administration. “We use the card to make payments for every possible expenditure. American Express’ Corporate Cards give us bigger credit limits compared to other payment alternatives. Additionally, we have an interest free cycle of up to 51 days. It gives us great flexibility particularly regarding our cash flow.”
Lee also appreciates the support from the American Express team. “The American Express Corporate Card service centre is incredibly supportive. We have a dedicated relationship manager to look after our needs exclusively and follow up on our requests promptly.”