American Express Global Business Travel (Amex GBT) and American Express announced new features to be integrated into Amex GBT’s Neo1 platform, which is geared to small and mid-sized enterprises (SMEs).

According to the announcement, the features will enable businesses to gain a comprehensive look at employees’ travel spending and purchases, allowing them to manage the employee travel experience in one convenient place.

Further enhancing the offering, according to the announcement, Neo1 will now offer American Express small business services (SBS) and corporate card members a virtual card payment and integrated data solution that is free to subscribe to, has no costly implementation, provides customers with access to enterprise-grade travel rates and has no revenue share on Amex transactions.

Key Neo1 features to help businesses with their expense management include:

• Tracking exactly how much cash employees need to spend, and once approved, know exactly where it went
• Seeing the balance of corporate card activity in near real-time, far ahead of businesses’ statement cycles, helping anticipate spend for better cash flow management and liquidity
• Creating accurate forecasts to improve spending decisions by uncovering hidden employee expenses that are easy to reconcile at the end of each

Dave Holmes, vice president, enterprise strategic partnerships for American Express, said, “for the first time businesses have access to American Express virtual cards within Amex GBT’s Neo1 platform, providing a better way to manage a variety of business expenses.”

Fiona Hastings, vice president of Neo1, said growing businesses simply don’t have time for cumbersome expense reports, disjointed budgeting processes and the hours it takes to rebook and support more frequently disrupted travelers. Amex GBT, she said, “is excited to bring Neo1 to more small and mid-sized businesses through our partnership with American Express, to help them overcome today’s spend management challenges while paving the way for a smart, more efficient future where all employee spending needs can be serviced in one place.”

Image: American Express Global Business Travel