As part of its expanding S2S (source-to-settle) product suite, American Express has two new corporate purchasing offerings: S2S Contract Audit & Recovery and S2S Catalog Pro.
American Express, which has cut more than $1 billion from its procurement costs over the past five years, designed the services to help companies optimize performance, save money, and increase control and compliance in their supply chains.
An analytic service, S2S Contract Audit & Recovery helps firms achieve the contract savings they negotiated and recover any monies lost through non-compliance. S2S CatalogPro is an online service that integrates with a firm’s existing e-procurement software to enhance the product search experience with business-to-consumer features, making it easier for employees to order from preferred suppliers and secure negotiated rates.
Earlier this year, American Express introduced S2S eInvoice&Pay, an integrated electronic invoice presentment and payment service to help companies process all of their invoices from a single online portal managed by American Express. The company plans to announce other S2S corporate purchasing services in the future