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The key to successful spend management is access to quality spend data.
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Need detail on specific transactions? American Express Corporate Purchasing Solutions enables you to benefit from a unique relationship with more than tens of thousands of our suppliers, who can deliver enhanced data on demand.
Anytime the Corporate Purchasing Card is used with enrolled American Express Corporate Purchasing Card suppliers, valuable line item detail data is captured. Line item detail data is invoice level, detailed information that includes transaction type, sales tax amount, quantity description, and supplier zip code.
It allows your company to:
Improve purchase reconciliation
- Eliminate manual processes to obtain invoice level information
- Cross reference discrepancies within an order
- Match to online order systems (i.e., Ariba)
Ensure policy compliance
- Compare real purchase data with contractual pricing by part number and unit price
Improve internal audit and control processes
- Track capital equipment through the serial/part number
- Track individual items for large departments
- Monitor internal requirements for capital purchases
Leverage buying power with suppliers
- Receive data on how much was purchased, not just how much was spent
Facilitate regulatory compliance
- Aid in federal and state tax reporting
- Enable paperless VAT Reclaim
Timely data is actionable data. Reports are available within 48 to 72 hours following the close of the billing cycle or reporting period. Depending on the type of report, updates may occur daily, monthly, quarterly or annually.
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