American Express Meetings & Events today announced a new solution, powered by American Express FX International Payments, for pharmaceutical companies looking to simplify healthcare provider payments. The new solution which includes reporting capabilities is exclusively available to American Express Meetings & Events clients, making it possible for meeting planners to manage payments to health care providers with seamless tracking and reporting.
The platform made available through American Express FX International Payments, a leader in providing foreign exchange services, enables businesses to send, receive and manage their foreign payments online quickly and securely. Payments and expenses flow through one end-to-end meetings resource and payments can be processed worldwide in over 110 currencies. American Express FX International Payments enables businesses to send, receive and manage their foreign payments online quickly and securely.
"Pharmaceutical companies are working to strengthen their process for making, tracking, and reconciling payments for accuracy," said Issa Jouaneh, Vice President and General Manager, American Express Meetings & Events. "Issuing payments in foreign currency adds an additional layer of complexity, by providing a service for these types of payment as a part of the end to end meetings planning process, we are providing pharmaceutical companies with the opportunity to simplify their process and to receive the tracking and reporting they need."
In response to the new obstacles for meeting planning, American Express’ solution has been designed to address the following needs:
Processing of Individual Payments to Health Care Providers:
- Multiple forms of payment are supported, including wire transfers and checks
- Foreign payments can be made in local currencies as needed
- Foreign exchange rates clearly displayed to provide transparent payment costs
- Online, secure transfer of funds
Tracking and Aggregation of All Payments to Health Care Providers:
- Confirmation is sent when payments are processed and all necessary corrections are proactively addressed
- Staffing requirements are reduced through the simplified process
- Payments are fully managed and reported back to clients
- Client hierarchy (e.g. division, brand, product-level, meeting-level, etc.) is used to categorize the payments and manage at the event budget level
- Payments are fully reconciled in the same manner as other fees such as venue, meals, and AV
About American Express Meetings & Events
American Express Meetings & Events, a division of American Express Global Business Travel, offers capabilities spanning from program implementation to optimization, delivering powerful meeting experiences for clients. The team is comprised of more than 1000 employees world-wide focused on meeting and event sourcing, planning, contract negotiations, budgeting, expense management, reporting and benchmarking, combined with strategic counsel and integration of leading technology. This end-to-end approach focuses on creating visibility, driving savings and enabling effective meeting experiences.
With more than 40 years in the industry and an in-market presence in over 50 countries, American Express Meetings & Events is uniquely positioned to help you manage your meetings and events locally, regionally and across the globe. American Express Meetings & Events works with market leaders to enhance its offering to clients. Creating alliances that a provide clients with leading creative support for their meetings and events needs.