Amex card offers effective way to manage T and E expenses
December 04 2005
EXCELLENT financial management is a key attribute for any good leader.
Chief Executive Officers (CEOs) of profitable organisations are required to prudently manage the company’s assets, liabilities, equities and expenses in keeping with long-term interest, and that includes the company’s travel and entertainment (T and E) expenses.
In any organisation, CEOs’ primary focus is to increase the profitability of the company while effectively managing business expenditure. Today’s economic pressures force CEOs to continually seek new efficiencies and better approaches to expense management.
Leonie McCreanor, director of account development for Malaysia and Singapore, American Express Global Corporate Services said: “An effective way for companies to manage their business T and E expenditure is to implement a corporate card programme. “By issuing employees with a corporate card, companies can help boost their bottom line results by streamlining expense management processes, driving indirect savings and using their corporate card data to leverage greater savings through effective T and E sourcing.”
The American Express Corporate Card is a more cost-effective way to pay for business expenses compared to using cash, direct invoicing from vendors or personal credit cards. The corporate card will consolidate all T and E expenses from all of the cards issued to the company providing for better management and control, and thus allowing the company to streamline its payment process as well as simplifying the reconciliation process.
“The American Express Corporate Card programme is unique as we operate an integrated network of financial systems and reporting platforms locally, regionally and globally,” said McCreanor. Lee Siew Lee, country manager, American Express Malaysia, added: “As senior business executives become more discerning, we at Ame- rican Express have, and will continue to, position ourselves as the premium card and travel services provider, offering our valued cardmembers unsurpassed business expenditure management solutions, products and services at the best value.
American Express and Business Times are now in the process of selecting a sharp and financially astute CEO as the winner of Malaysia’s CEO of the Year. Besides financial management, an independent panel of judges will review the nominees based on five other key areas governing performances and track records namely, CEOs’ skills and contribution, marketing ma- nagement, operations management, development management, and involvement in community, environment and nation building.
The American Express- Business Times CEO of the Year is expected to be announced by mid-December.