Easy, Easier, and Easier Still: 7 Big Updates to PEX Software

At PEX, agile development means more than the methodical, iterative evolution of our digital platform. It means using your feedback to create software that streamlines processes, enhances flexibility, and makes your business more agile. Here are seven updates, four new and three under development, that will make your financial operations easy, easier, and easier still.

Better Vendor Relations Made Easy—

Introducing Send Card Details

Virtual Vendor Cards give your Accounts Payable a great deal of control over when and how much a vendor can charge a card. However, vendors still like to know that you received their invoices, as well as when and how they’re going to be paid.

PEX Send Card Details delivers a system-generated email that tells your Accounts Receivable counterparts when and how much they can charge a Virtual Vendor Card, according to preset spending rules. The email can also include invoice numbers and notes.

Card details are available through a link. This provides a more secure way to access the payment which is restricted to a single payment for an approved on an approved date.

Your payments are secure and your vendors have the information they need to keep them happily servicing your business.

Sage Intacct Reconciliations Made Easier—

Default Sage Intacct Dimensions

PEX Tags and Sage Intacct Dimensions have a lot in common. They both enhance data categorization, improve financial reporting, and streamline operations. 

Equally important, businesses that use them love them.

Now, if your business uses our PEX Connector for Sage Intacct, you can set default PEX tag values for Sage Intacct Dimensions including: Expense Account, Class, Customer, Project, Location, Department, Employee, Item, and Warehouse. Once you configure tag mapping, your PEX Cardholders can choose a Dimension from a pull-down menu after they make a purchase. The Dimension will appear in the transaction report, allowing for one-click reconciliations with Sage Intacct.

Adding Accounts Made Easier Still—

Apply for New Accounts Inside Your PEX Account

One great feature of PEX is that it allows you to manage multiple accounts from the same familiar interface. Locations, subsidiaries, departments and more can all have their own unique account. Now you can add those accounts without leaving your current account.

Simply navigate to the “Business settings” tab in your PEX dashboard. On the upper right hand side of the window, click the “New Account” button and choose the type of account you want: Prepaid Expense, Credit Expense, Grants, or Rewards & Incentives.

Login Update—

Now You can Retrieve Your Username Without Calling Customer Service

There’s a new “Forgot Username” link on your PEX login screen. If you forget your username, just click it. Enter the email associated with your PEX account and we’ll send you a username reminder. 

The “Forgot Username” link appears in both your web browser and mobile app logins, so you can retrieve your username from anywhere.

Coming Soon—PEX Employee Reimbursement

A New, Better Way to Reimburse Employee Out-of-Pocket Expenses

There’s an entire support infrastructure behind employee spending with PEX cards. Everything from purchase reporting and receipt capture to automated allocations and one-click reconciliations. 

Soon, all those features will be available to reimburse cardholders for personal outlays.

An employee who uses a personal card can report purchases and submit receipts through the PEX dashboard and mobile app. Once approved, PEX will send the payment to the employee’s bank account.

Request early access to this feature here.

Also, please drop us a line to tell us about your current processes and let us know how we can make this feature more valuable to you.

Coming Soon—Tag Restrictions

A Solution for Better Data Integrity and Simpler Cardholder Reporting

Tags are among PEX’s coolest features. They let you track purchases against budgets. For instance, your systems may have category names like “SPL-OFF” or “Acct B327.” Yet an employee would only have to pick “Office Supplies” and “Jones Account” from dropdown menus.

Tag Restrictions will allow you to specify which groups or departments can see and access particular tags. Cardholders will no longer have to comb through all your tags to find the one they need. Moreover, having fewer tags visible should help reduce mistakes.

Coming Soon—PEX Marketplace for Cardholders

The PEX Marketplace has been a boon for the back office, with apps that drive productivity through enhanced functionality and integration with accounting, ERP, and other systems. A new PEX Marketplace will offer productivity enhancements to PEX Cardholders. Cardholders will find apps that integrate expense reports, receipt storage, and more. Stay tuned for more information.