Pivot Payables has upgraded its offerings by integrating virtual card capabilities into its accounting automation application, PivotLynx. This collaboration allows American Express® U.S. Business and Corporate Card Members to generate on-demand virtual cards, significantly improving the expense management process.
The new feature in PivotLynx promotes better budgetary oversight and financial control. Virtual card requests are routed to managers for approval and seamlessly integrated into cost accounting practices. Businesses can apply individual spending controls for each virtual card, including setting spending limits and expiration dates tailored to specific projects.
This integration also simplifies accounting by automating the reconciliation of card statements with the general ledger at the end of each statement period. This eliminates cumbersome manual processes, saving time and enhancing the accuracy of financial reporting.
John Toman, chief product officer and co-founder of Pivot Payables, expressed enthusiasm about the collaboration, stating, “We are teaming up with American Express to give our customers access to the control, enhanced security, and cash flow management that come with using an American Express virtual card alongside the PivotLynx application.”
Eligible card members benefit from the ability to establish specific controls for each virtual card, promoting effective project-specific budget management and stringent control over spending. Access to virtual card transaction data directly within the PivotLynx platform further facilitates this process.