The Hindu Business Line : Amex launches plan for mid-sized corporates

AMERICAN Express has launched of a plan for mid-sized South-based companies that is designed to help them bring down travel and entertainment expenses.

American Express's press release said the plan is called the corporate card programme.

The South India launch follows the ones in Mumbai and Delhi.

The essence of the programme is that American Express would provide mid-sized companies (described as companies with revenue between Rs 5 crore and Rs 500 crore) advice and guidance on reducing travel and entertainment expenses.

Further, American Express would use its existing relationships with organisations such as Avis and Hutch to offer its clients discounts at these establishments (Business Savings Plus Program).

American Express's spokesperson said under the corporate card programme, it would establish systems in mid-size corporates to monitor travel and entertainment expense incurred by the company. Business Savings Plan would reduce both everyday expenses and travel-related expenses.

Information provided by American Express said corporates felt travel and entertainment expenses are the second largest controllable expense in India. The company said the corporate card programme could save a client up to 25 per cent of the relevant expenses if it is properly implemented.

American Express's press release said its study showed that the total travel and entertainment expense for mid-sized companies in India is about Rs 12,234 crore, of which South India-based companies contribute about 27 per cent.

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Amex launches plan for mid-sized corporates