The solution is designed to work with businesses’ existing accounting systems
American Express introduced first accounts payable solution. Source: shutterstock.com
American Express has launched American Express One AP, its first proprietary automated accounts payable (AP) solution. It allows US businesses to process supplier payments more easily and efficiently.
American Express One AP is built on the technology acquired as part of the company’s purchase of acompay a year ago. It offers complete end-to-end payment processing supporting multiple payment methods, including virtual card payments, checks, and ACH.
We’ve reported that 38% of US companies have begun automating their accounts payable processes, compared to just 24% in 2019. Another 20% are anticipated to do so within the next two years.
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