Corporate cards giant American Express announced an agreement with SAP to develop and deploy enhanced corporate payment solutions.
Designed to help organizations drive process efficiencies without the need for large-scale, up-front development investments, the combined solution will feature a “plug-and-play” utility to enable SAP customers to adopt electronic payments quickly and easily. By integrating payments solutions with the underlying technology that powers an organization’s business processes, corporations can enhance controls and optimize the timing of their payments, thereby improving their working capital. The integrated solution combines the power of the Buyer Initiated Payments solution from American Express with process integration (PI) technology from the SAP NetWeaver® technology platform. PI technology will maintain payment data integrity and the workflows and approval processes that customers are already running on SAP software.
The financial benefits of electronic payments, especially the tremendous functionality of corporate cards, can sometimes be missed due to the integration challenges between payment solutions and corporate ERP systems. SAP’s large installed base should provide opportunities to integrate American Express’s Buyer Initiated Payments Platform, described as:
….an integrated web-based automation tool for companies focused on improving every aspect of the payment process. Benefits include:
Extend Days Payable Outstanding (DPO), or float, maximizing short-term cash
Increase the volume of electronic payments, reducing costs associated with paper checks and supplier inquiries
Enhance payment security, minimizing fraud
Benefit from world-class dedicated customer service
Read full article: http://about.americanexpress.com/news/pr/2010/aebip.aspx