Abacus, the only intelligent expense management solution, today announced it has integrated with American Express to pull in a direct feed of corporate card transaction data into the Abacus platform. When this data is programmatically imported into Abacus, finance teams will be able to leverage more accurate and higher quality data to help automate month-end reconciliation. This partnership comes on the heels of Abacus announcing integrations with Slack and NetSuite, underscoring the company’s strategy to obtain the best quality and most robust financial data to power its smart expense prediction system.

American Express is a top credit card issuer for global companies, with approximately 13.4 million corporate cards circulating within its Global Commercial Services division. It is consistently ranked above average in customer satisfaction according to J.D. Power’s annual survey. American Express’ corporate card programs help companies manage many facets of their business spending, from travel to stocking up on office materials.

When an employee uses his or her American Express Corporate card, this new integration allows posted transaction data to flow directly into Abacus. This direct integration replaces the need for Abacus to rely on a third party card data aggregation provider, offering a faster, more reliable data source to help American Express @ Work customers. More effectively surfacing purchase data to employees has resulted in faster and more accurate classification and therefore quicker reconciliation processes for finance teams.

“We’re getting closer to the future where employee expenses will just submit themselves and the majority of review and approval will be done programmatically, with more effective controls,” said Omar Qari, co-founder, Abacus. “A multitude of data sources will inform this system, but it’s clear that the relationship between companies and their banks will play a crucial role. While a number of banks are now starting to focus on making their systems more accessible, we’re excited to have worked with American Express on this important integration for our mutual customers.”