Purchasing Processes
The American Express Purchasing Process and Automation Study, produced in conjunction with Ernst & Young Management Consulting, demonstrates that the average cost to process a single purchase order can be reduced from US$90 to US$22 by using the American Express® Corporate Purchasing Card. These savings are achieved through decentralised ordering, receiving, and reconciliation processes, as well as reduced invoice processing by your accounts payable department. This streamlined approach can help you:
- Lower purchasing costs by up to 75%
- Improve control over your purchasing
- Simplify data management and regulatory compliance processes
- Increase employee productivity
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Billing and Payment Processes
Under traditional procurement methods, approximately 36% of the total cost of order processing is associated with billing and payment. The American Express Corporate Purchasing Solution simplifies this process by enabling you to consolidate expenses and make one payment, reducing the costs associated with billing and payment by up to 96%.
At the end of each 30-day billing cycle, American Express issues a consolidated billing statement to your company. The consolidated billing statement is payable in full within 14 days following the close of the billing period.
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