American Express has announced its agreement to acquire Center, a software company revolutionizing expense management. This acquisition will integrate Center’s innovative software with American Express’ corporate and small business cards to create a seamless, efficient expense management platform. The solution will offer greater value throughout the commercial card payments process, from premium card offerings and rewards to automated accounting and reconciliation.
Raymond Joabar, Group President of Global Commercial Services at American Express, stated, “As a leader in corporate and small business cards, it is our job to deliver innovative products and services that help customers run their businesses more efficiently. By integrating Center’s outstanding talent and technology, we can save our customers time and money and strengthen our leadership position in commercial card payments.”
Founded with the mission to simplify the user experience, Center has developed industry-leading software that streamlines expense management for businesses. Naveen Singh, CEO and Co-founder of Center, emphasized the alignment of the two companies’ visions, saying, “We have always believed that card and expense management should be deeply linked, and we believe that even more great work can be done by incorporating our capabilities and talent into American Express.”
The integration of Center’s software aims to provide businesses with real-time visibility into employee spending, automate manual accounting tasks, streamline expense submissions and reporting, and give finance teams the tools to optimize decision-making.
Key benefits of the acquisition include:
- Employee Satisfaction: Empowering employees with a mobile-friendly, automated app to manage expenses easily.
- Automation: A customizable expense management program that significantly reduces time spent on expense reviews and audits, freeing up to 90% of time for finance teams.
- Compliance and Rewards: Ensuring businesses remain compliant with spending policies while maximizing the value from their American Express card program.
The acquisition is expected to close by the second quarter of 2025, pending customary closing conditions.
