PEX Partners with SAP Concur for Real-time Spend Visibility and Greater Productivity

New York, NY – March 22, 2024 – PEX (www.pexcard.com), a leading workforce corporate card platform, announced today its strategic partnership with SAP Concur (www.concur.com) to auto sync PEX card transactions to Concur Expense, the foremost provider of expense management solutions. The Connector for SAP Concur is now available in the PEX marketplace. Administrators can now sync PEX cardholder purchases and cardholder fees directly into Concur Expense, making it easier and more secure for customers to manage and reconcile expenses.

PEX revolutionized corporate cards with a real-time platform that enables administrators to issue unlimited cards and set custom controls to limit where, when and how those funds can be spent. Unlike legacy bank cards, PEX’s smart spend controls and flexible platform helps companies save time and money tracking and managing expenses. According to a recent customer survey*:

• 60% of PEX customers saved money by implementing spend rules on PEX
• 58% saved time by reducing the time they spent tracking expenses
• 25% saved over 10 hours per month resulting in increased team productivity.

“This partnership with SAP Concur will extend our platform’s ability to support card users and back office teams,” said PEX CEO Toffer Grant. “The PEX platform is feature-rich with spend controls to help companies maintain expense policy compliance in real time,” Grant added. “PEX’s integration with Concur Expense will accelerate real-time data visibility, speed departmental approvals and simplify reconciliations for our shared customers.”

With more than 10 million cardholders and 18 years in business, PEX is committed to supporting its customers’ digital transformation and automation efforts to improve efficiency and the workforce experience.

About PEX

PEX, a New York-based FinTech company founded in 2006, is the leader of next-generation expense management solutions, revolutionizing outdated and inefficient corporate spending practices. PEX allows businesses to simplify and securely enable employee spending while maintaining unprecedented control. For more information, visit www.pexcard.com.

About SAP Concur

The SAP® Concur® Platform stands as an industry leader in travel, expense, and invoice solutions. SAP Concur solutions guide employees through business trips, seamlessly move authorized charges into expense reports, and automate invoice approval, aiming to simplify everyday processes and enhance employee experiences. For more information, visit (www.concur.com)

*2023 PEX Customer Survey

The Bancorp Bank, N.A., is issuer of the PEX Cards only and does not endorse or sponsor the associated products, services or offers from PEX.