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American Express Partners with Intacct to Help Mid-Market Companies Save Time & Hassles by Making Commercial Payments via the Cloud
New Partnership Enables Midsize Businesses to Pay Suppliers Inside Their Existing Cloud Financial Management System
ORLANDO, November 11, 2014 – American Express Global Commercial Payments (
Launching today, the Intacct Check Delivery Service will enable businesses to send check payments to suppliers and have their general ledger automatically updated – all with a click of a button. Additional card- and non-card payment solutions from American Express and Intacct will be coming soon.
Trend: Transitioning Payment Transactions to Cloud is Affordable and Necessary
According to the recent American Express Mid-Market Cloud-Based Solution Pulse, which surveyed more than 500 financial decision makers, 97% of mid-market companies plan to increase their company’s technology investments over the next year, with roughly 40% of their company’s technology investments allocated toward cloud-based solutions.
Additional findings from the online survey include:
A large majority of mid-market companies (95%) agree that transitioning a company’s payment transactions to the cloud is an affordable and necessary option as technology becomes more advanced. Many companies see the benefits of transitioning, including streamlined processes:
Nine-in-ten (94%) companies cite the positive effects a cloud-based payment platform can have on their transactions with new and existing customers and suppliers
More than six-in-ten feel that the platform can make their company more efficient (68%), save time (68%) and money (63%)
70% and 62% of mid-market companies believe that ‘payment execution’ and ‘automatic general ledger reconciliation of payments’ can be streamlined through the use of a cloud-based payment system, respectively
“Midsize companies are the growth engine of the economy and these businesses are rapidly migrating towards cloud platforms to manage their business, as these solutions offer robust functionality and intuitive user interfaces and deliver industry leading value,” said Robert Reid, CEO, Intacct. “We are excited to partner with American Express to collectively enhance the rapidly-growing market for cloud-based business solutions and offer a high-level customer experience across the board.”
“We at American Express continue to serve the middle market segment and increasingly look to integrate and embed our payment solutions into the digital systems that customers use to do business,” said Darryl Brown, President, Global Commercial Payment Americas. “While middle market companies are increasingly adopting cloud solutions to support their priorities and investments for growth, supplier payments and financing still tend to sit outside of the cloud due to infrastructure hurdles and business model challenges. Our partnership with Intacct will facilitate the integration of payment services into their core financial management system, thus offering a ready-to-use solution without an IT investment.”
The American Express and Intacct partnership will reduce the costs of payment processing and provide customers with an integrated user experience, as well as drive operational efficiency through streamlined workflow, reduced payment processing errors, and automated updating of the general ledger.
About the American Express Middle Market Cloud-Based Solution Pulse
The American Express Cloud Payments Survey of Mid-sized companies was conducted online among a sample of 516 financial decision makers in U.S. Mid-Size Companies, defined as having revenues of $5 million to $1 billion annually. Interviewing was conducted by Ebiquity between October 20-27, 2014. Overall, the results have a margin of error of +/- 4.3% at the 95 percent level of confidence.
Ebiquity are independent marketing performance specialists. Ebiquity enables brands across the world to make better informed decisions to improve their brand and business performance across integrated communications channels.
About American Express Global Commercial Payments
Through its Global Commercial Payments division, American Express offers a suite of B2B and T&E payment solutions that help organizations streamline processes and transform them into opportunities for savings, control and efficiency. American Express can help your organization increase working capital flexibility and strengthen relationships with suppliers. For more information, visit business.americanexpress.com/us/.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
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