Amex and Travent to save sector ‘billions’

A partnership between American Express (Amex) and meetings management technology provider Travent could save the C&I industry as much as $5bn (£3bn). Expense management solution Meetingview Express integrates Amex’s corporate meetings card and Travent’s centralised spend-management system. Card transactions appear automatically in the system within 24 hours, reducing time spent processing invoices. "An estimated 5.6% of spend is the indirect cost of managing it," said Travent managing director Ray Thackeray. "This system could eliminate 90% of that indirect cost. In an industry estimated to be worth $100bn (£55bn) globally, the saving could be enormous." The solution also offers spend transparency to event planners and procurement officers. Users can allocate spend to specific events as they occur and monitor it by event or cost centre. "This will let planners do their own procurement," said Amex head of commercial cards, UK and Benelux, Paul Abbott. Meetingview Express offers other features including a Request For Proposal function. The service can be accessed via the internet. To register, email meeting.view. express@aexp.com.

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