Why modern finance teams are moving beyond Amex

For decades, American Express has been the go-to corporate card for businesses. But times have changed and so have the needs of finance teams. The old way of managing company spend, relying on shared cards, chasing receipts and hoping for compliance, doesn’t work anymore. It creates more manual work, limits visibility and makes it hard to empower employees to spend responsibly. 

Today’s CFOs need more than prestige or points. They need flexible card programs that adapt to their teams’ workflows, equip spend across global teams, back office operations and provide real-time control. That’s why modern finance teams are shifting to card programs that are easier to manage, scale and control.

To understand why more companies are stepping away from legacy cards like Amex, it helps to look at what finance teams actually need today.

The must-haves for finance leaders

Modern finance teams are being asked to do more with less. That means:

• Reducing manual reconciliation work
• Enforcing spend policies automatically
• Supporting remote and high-turnover teams
• Gaining instant visibility into where money is going
  

While traditional providers may check a few of these boxes, they fall short where it matters most: real-time control, flexibility and ease of use across teams. Amex in particular brings with it some hidden challenges that many companies only discover after onboarding.

Why finance teams are embracing automation-first solutions

Switching from Amex isn’t just about avoiding its pain points. It’s about gaining the tools needed to operate smarter.

With PEX, reconciliation happens in real time:

• Set real-time spending limits that automatically enforce company policy
• Automate receipt matching and GL coding
• Sync with popular ERPs like QuickBooks, NetSuite, Sage Intacct and SAP Concur
• See every transaction as it happens across teams and projects

PEX users report saving up to 657 hours per year by automating their processes, equivalent to over $35K in labor savings annually. That adds up to a 10.85% ROI, far more valuable than the 1–2% rebates most traditional cards offer. With PEX, you don’t need to fund additional admin support to manage spending—automation does the heavy lifting for you.

While automation delivers major time and cost savings, many companies are also switching from Amex because it simply can’t keep up with modern finance needs.

4 reasons companies are outgrowing Amex

1. Merchant acceptance matters more than ever

Amex is known for being less widely accepted than Visa or Mastercard. That’s especially tough for field teams or remote employees who need to make purchases on the go, whether it’s for tools, fuel or meals. A declined card slows down the job and adds friction to finance.

With the PEX Visa^® Commercial Card, teams enjoy broader merchant acceptance. No more calling in backup cards or issuing reimbursements just because a vendor won’t take Amex.

2. Receipt collection shouldn’t be painful

Finance teams spend far too much time chasing down receipts. With Amex, receipt management often falls on the shoulders of the accounting team and it usually happens weeks after the transaction.

PEX customer Wheelhouse no longer chases down receipts thanks to automated receipt matching. Employees upload receipts via text, or email and receipts are categorized automatically, reducing admin work and closing the books faster.

3. Distributing cards shouldn’t require personal information

Setting up employees with Amex cards often requires their Social Security numbers. In industries with high turnover or seasonal staff, that becomes a huge onboarding burden, not to mention a potential risk.

PEX eliminates this issue. You can issue cards instantly without collecting sensitive personal information. This makes it easier to scale your team whether you’re bringing on contractors, seasonal workers or temporary staff for a specific project.

4. One card doesn’t fit all

Let’s say you want a card labeled “Office” or “Marketing” rather than assigned to a person. With Amex, that’s not always possible. Most cards are tied to individuals which limits flexibility.

PEX allows finance teams like yours to tailor card programs by role, department or industry-specific needs. Whether that’s job site purchases in construction, field team fuel cards in transportation or per diem meal spend in nonprofit work. PEX lets you issue generic cards for teams, departments or specific spending needs. This kind of customization gives you more control and reduces the risk of unauthorized purchases slipping through.

One customer put this approach to the test and saved hours: The Wheelhouse Group, a growing production company, used to juggle 20 Amex cards. Without project-level visibility or ERP integration, they spent hours manually reconciling transactions. After switching to PEX virtual cards, they matched every dollar to a project and eliminated manual tracking entirely.

Virtual cards: the new standard for spend control

PEX’s virtual cards give finance teams the ability to issue funds instantly, with even more control. Issue cards with:

• Single-use or vendor-specific limits
• Custom expiration dates
• Project-based restrictions
• Instantly issue and fund

This means you can assign specific spend rules and assign it to individual team members or vendors. Avoiding lost or stolen cards and controlling spending before it happens, not after. This flexibility helps different industries solve unique challenges, from construction sites needing job-specific cards to educational institutions managing grants or project-based spend. You can even disable cards in real-time without impacting others.

Virtual cards are a secure and efficient way to manage business spend. Virtual cards aren’t just more secure, they’re efficient. Tailor cards to specific vendors or projects, eliminating overspend and simplifying reconciliation for finance teams.. Pay, track and control vendor spend and earn 1% back* on eligible purchases.Take your savings strategy one step further, block wasteful spend and earn rewards on eligible business expenses. With PEX, you don’t just manage spend, you turn it into rewards, driving a 10.85% ROI that’s over 5X higher than traditional bank cards.

Smarter tools mean faster closes

Month-end doesn’t have to be a scramble. PEX customers report faster financial closes because they aren’t waiting on missing receipts or manual reconciliations. With real-time tracking and automated data syncing, your team spends less time on admin work and more time analyzing spending.

That kind of control and visibility isn’t just theoretical, it’s what real companies are experiencing after switching from Amex to PEX.

Ready to save time, cut costs, and gain complete visibility? The average PEX customer sees over $35K in annual labor savings and earns 1% back on eligible spend. That’s the modern way to manage corporate expenses. Request your personalized demo now

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