Brex Teams With SAP Concur For B2B Expense Tracking Integration
Corporate card and cash management company Brex has teamed with SAP Concur to let its clients revise and reconcile their credit card expenditures through Concur(R) Expense without intervention, according to a Wednesday (Sept. 2) announcement.
The collaboration between Brex and SAP Concur is the apex of the in-depth investment in Brex’s new application programming interface (API) technology. Brex’s aim is to create the necessary technology to help companies as they evolve and their financial requirements change.
Brex card activity appears without intervention on Concur Expense with the integration, which lets reconciliation take place every day and “automated accounting software synchronization” to occur, according to the announcement. The technology also lets users see expenses in one place to arrive at better financial determinations aside from taking away cumbersome manual tasks.
“The Brex-SAP Concur integration makes expense management seamless, and is also a good example of Brex’s ability to plug and play with our existing finance tech stack,” Carbon Health Accounting Manager Kevin Woo said in the announcement.
Brex also created a connection between a business credit card and the Xero, which offers accounting software on the cloud for small companies and the professionals who work with them.
“The Brex-Xero integration streamlines accounting workflows, helping Xero users and advisors close their books faster,” Xero Americas VP of Operations Andy Burner said in the announcement. “The powerful benefits include real-time data flows, automatic receipt matching, bank feed automation, and an integrated view across payment types.”
Brex, for its part, has notched more than $400 million in funding and is backed by partners such as the founders of PayPal, Kleiner Perkins and Y Combinator Continuity.
In separate news, HRS, the business lodging firm, has extended its SAP Concur relationship by five years via a strategic deal per an August announcement. At the time, it was reported that SAP Concur clients could use desktop or mobile technologies to use the HRS Lodging-as-a-Service platform.