American Express joint venture puts finances on Netsuite

American Express Global Business Travel puts its financial operations on a cloud based platform from Netsuite to support its growth

American Express Global Business Travel has put all of its financial operations on a cloud-based platform from Netsuite to gain the flexibility required to support its growth.

The company, which is a joint venture between American Express and investors, provides travel services to businesses.

It is using Netsuite’s OneWorld cloud-based enterprise resource planning (ERP) software to consolidate its financial processes across the world. The single system will support an operation that spans 140 countries and has 14,000 staff. The software supports 190 currencies, 19 languages and automated tax compliance in more than 50 countries.

Following the joint venture agreed in 2014, American Express Global Business Travel decided to move its global IT to the cloud to cut costs and become more efficient.

“We chose NetSuite because we were impressed with the flexibility of its cloud-based ERP, which is essential to supporting our business as we continue to transform and grow,” said Steve Curts, chief strategy officer at American Express Global Business Travel. 

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“The dashboard-driven capabilities of NetSuite OneWorld provide real-time visibility into our global operations, allowing us to operate more efficiently and reliably, which customers value in our company,” he said.

In a recent survey of about 1,400 software decision-makers in North America and Europe, Forrester Research found 26% had either already replaced their companies' core financial systems with software-as-a-service (SaaS) alternatives, or were planning to do so within two years, up from 13% the year before. Similarly, 39% said they had no plans to use financial SaaS applications, down from 63% in 2013.

American Express Global Business Travel has also agreed that NetSuite customers can access GBT Middle Market travel services at a preferred rate.

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