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The key to successful spend management is access to quality spend data.
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Line Item Data
Some suppliers have the capability to pass full invoice data to American Express. Each time a Corporate Purchasing Solution is used at such suppliers, full invoice level data is captured at point of sale. This includes the supplier’s details, description of goods and VAT information at line item.
Corporate Purchasing Cards can be used at any American Express supplier whatever the data capability, passing full invoice detail wherever it is available, completing the full picture of your spend.
Corporate Purchasing Accounts guarantee full invoice detail on every transaction, so all domestic transactions are backed with full VAT evidence supplied in a monthly consolidated invoice from American Express.
vPayment transactions carry a buyer-supplied reference unique to each and every transaction, no matter what the capability of the supplier.
Our data capabilities allow your organisation to:
Improve purchase reconciliation
- Eliminate manual processes to obtain invoice level information
- Cross reference discrepancies within an order
- Match to online order systems
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
- Access required tax reporting detail
- Enable paperless VAT Reclaim in certified countries
Timely data is actionable data. Reports are continually available and updated within 48 to 72 hours of transaction submission by your suppliers. Depending on the type of report, updates may occur daily, monthly, quarterly or annually.
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