American Express announced that it has agreed to acquire Center, a software firm focused on modernizing expense management, in a deal aimed at creating a seamless platform that integrates corporate and small business card programs with automated accounting and reconciliation tools.
American Express expects to combine Center’s technology with its existing card offerings to deliver enhanced value throughout the commercial payments process, per the announcement.
The company says the integrated solution will provide businesses with a streamlined experience, from tracking employee spending in real time to automating expense submissions and facilitating policy compliance.
Raymond Joabar, Group President of Global Commercial Services at American Express, said the acquisition would help customers save both time and money while strengthening the company’s leadership in commercial card payments.
“It is our job to deliver innovative products and services that help customers run their businesses more efficiently,” Joabar said.
Naveen Singh, Chief Executive and Co-founder of Center, noted that linking card usage and expense management can simplify processes for finance teams and employees alike.
Center’s software is designed to remove friction from traditional expense workflows, giving finance departments a clearer view of spending trends and automating manual tasks.
American Express believes this integration will enable business owners and finance officers to ensure full compliance with corporate spending policies, while also benefiting from the rewards and services associated with the card program.
According to American Express, Center customers have reported freeing up an average of 90% of the time previously spent on reviewing, auditing, and posting expenses.
The card and software combination is expected to improve the employee experience by offering a mobile-friendly application, on-the-go spending controls, and automated approval processes.
The transaction is slated to close in the second quarter of 2025, subject to customary closing conditions. American Express did not disclose
additional financial terms of the deal. The company anticipates that the move will enhance its suite of business-focused offerings and help customers optimize their expense management practices.
