Friday, Mar 29 2024 | Time 17:45 Hrs(IST)
image
Business Economy


American Express set to expand expense management solutions

New Delhi, July 11 (UNI) Expense management solutions providers, American Express is set to increase penetration of its solutions in India particularly in mid and large corporate sector in the next few years.
In India, American Express works with over 13,000 large corporates and MSMEs (mid and large corporates) streamline purchasing, simplifying reporting and reconciliation processes for work related expenses and help realize savings from more efficient expense management, minimizing reconciliation time and auditing.
It has provided customized expense management solutions to over 600,000 corporates globally, and more than 60 per cent of Fortune 500 companies.
Indian corporates especially small and medium enterprises are now placing equal priority on expense management as much as on increasing revenues. However, with no fully automated processes to catch non-compliance in policies related to expenses, there is an ample room for ushering in efficiencies, especially on travel and entertainment spends, which is seen as among the top three controllable expenditures besides salaries and benefits for corporate, a company release said.

Sharing her views, American Express Banking Corp India General Manager Saru Kaushal said, “Use of expense management solutions is expected to see a tremendous growth over the next few years in India. Companies are realising the benefits of integrating technology and finance to leave no room for leakages. With American Express’ customised expense management solutions and corporate card programs, companies can avoid such leakages as all transaction are tracked real time.”
UNI JPG SHK 1639
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image