American Express and SAP Launch Integrated Payment Solution
American Express and SAP have developed an integrated solution enabling SAP customers in the US to process electronic payments (e-payments) more seamlessly with American Express. Through this collaboration, the companies aim to clear roadblocks that can delay or deter corporate adoption of e-payments, such as high costs of deploying and connecting a myriad of third party systems.
Designed to help organisations drive process efficiencies without the need for large-scale, up-front development investments, the combined solution will feature a ‘plug-and-play’ utility to enable SAP customers to adopt e-payments quickly and easily. By integrating payments solutions with the underlying technology that powers an organisation’s business processes, corporations can enhance controls and optimise the timing of their payments, thereby improving their working capital.
“Corporate clients typically have a fragmented base of treasury workstations, trading systems, accounts payable solutions, payroll processors, and other financial solutions that exchange data internally and externally with banks and corporate suppliers,” said Jeanne Capachin, research vice president, IDC Financial Insights, an independent research and consulting company. “More standardisation of data and better connectivity between buyers and suppliers are needed. Recognising the pain their corporate clients experience managing multiple third-party systems, SAP and American Express are working together to increase ease of use and reduce costs for customers deploying and maintaining payment solutions.”