Is Your Financial Infrastructure Built for Resilience and Growth?

What kind of financial back office do you want? One that is so slow and methodical that it becomes an impediment to performance. Or one that’s so fast, smart, and resilient, it drives success?

That’s a trick question. In today’s business environment, you don’t have a choice.

Friction from slow, methodical processes can ripple through your operations, putting your organization at the mercy of nimble competitors. Moreover, slow, methodical back offices tend to use manual processes that, ironically, are more prone to the errors and compliance issues that the logjams in your processes are meant to prevent.

A Back Office Built for Resilience Is also Built for Efficiency and Growth

Resilience refers to the ability of systems to withstand, respond to, and recover from disruptions. Financial shocks. Changing market conditions. Murphy’s Law. A resilient back office keeps going.

The keys to resilience include risk management, compliance, data security, and scalability. Any middle-market CFO will tell you these are also prerequisites for growth. Financial systems that offer robust capabilities and .99999 availability are worth their weight in profits.

PEX has delivered bottom-line improvements for thousands of companies.

PEX Brings Automation and Resilience to Spend and Expense Management

Over the past decade, PEX has grown from a revolutionary corporate card program to a comprehensive spend management solution. Customers use our proprietary payments stack, bank integrations, customer portals, and secure data infrastructure to streamline back-office operations and exercise unprecedented control of employee spending and vendor payments. Here’s how:

• Enhanced Control and Compliance: With PEX, customers direct spending through prepaid, charge, and virtual cards. But unlike other corporate and virtual cards, PEX lets you program spending policies—company, budgetary,  or regulatory—right into card functionality. The system declines non-compliant attempts to use the cards. 

The program is flexible. For special circumstances or emergencies, an authorized administrator can change rules. The system documents the action, so card usage remains fully auditable. PEX enforces spending rules and documents any changes to them, no matter how temporary.

• Increased Operational Efficiency: In the PEX Marketplace, you’ll find off-the-shelf integrations for popular accounting, ERP, and other business systems. Many of which are industry specific. At the very least, this replaces manual financial review and data entry with cloud-based, one-click reconciliations. This is the “killer app” for many customers. They report up to 93% efficiency gains.

Furthermore, PEX API lets you build integrations with other business systems, even home-brewed applications. You can automate the processes from card issuance to payment and purchase funding and approvals. Less work. Less errors.

• Unprecedented Spend Visibility and Reporting: PEX generates a transaction report every time a charge clears. Your systems know the merchant, amount, and person responsible for the transactions in real-time.

You can assign accounting codes to cards or ask users to choose one from a dropdown menu. AI systems attach receipts when (submitted through the mobile app or text). You have real-time visibility into spending. 

PEX offers many standard and custom reports to help you make the most of this data. Better still, PEX integrates with your accounting and ERP systems, so you can combine PEX data with your other business systems’ and use their reporting features. Either way, robust, up-to-the-second reports are just a click or two away.

• Security and Fraud Prevention: PEX cards are a risk management dream come true. You can turn cards on and off at will. This means a card can’t be used until you activate it, and then the cardholder can only spend within defined parameters.

Because you set rules about card usage and spending, a stolen PEX card may be hard to use. You also receive alerts every time a charge is declined, so you know immediately if someone is attempting to make an unauthorized purchase.

• A Robust, Always-available, Cloud-based System: Beyond PCI compliance, PEX has scaled to serve over 10,000 customers, with over 10,000,000 cards since our founding in 2006. Our agile development approach lets us add over 1,000 technical updates to the system every year, with no downtime.

We also add dozens of new products and features each year. Recent additions include enhanced document storage, AI receipt matching, and enhanced approval workflows. PEX keeps growing to serve more of your needs and serve them better.

Get Started With Minimal Cost and No Downtime

Unlike back office solutions that require expensive cutovers and training, the PEX interface is simple and intuitive. And cloud-based. You can log into your account and start issuing cards to make payments and purchases in the first minutes after you open your account. See how easy and inexpensive it is to build a faster, more resilient system for spending and expense management in your financial infrastructure. Request a free demo today