American Express Launches Financial Management Tools For Small Businesses

American Express has long been a leader in providing credit cards and other financial services to small businesses. AMEX is now gravitating towards its commitment to supporting small businesses even further by launching a suite of financial management tools designed specifically for them. With these tools, American Express aims to help small businesses better manage their finances, save time, and ultimately grow their business.

Perhaps one of the most compelling aspects of these financial management tools is that they are available to all American Express small business cardholders at no additional cost. This means that small businesses can access these tools without having to pay any extra fees or sign up for any additional services. In this blog post, we'll take a closer look at American Express Business Blueprint and explore how it can benefit small businesses.

American Express Business Blueprint

The American Express Business Blueprint is a set of financial management solutions accessible to all American Express business card holders. The tool, which is built on the Kabbage platform, acquired by American Express in 2020, is designed to be a simple-to-use one accessible from anywhere at any time. It has several features that can assist small businesses in managing their money more productively, including cash flow forecasting, spending tracking, and financial goal planning.

Features of American Express Business Blueprint

Cash Flow Forecasting:?

The cash flow forecasting tool is one of the main components of the American Express Business Blueprint. Small business owners can use this tool to forecast their cash flow based on historical spending and income trends. Business owners who have a comprehensive understanding of their cash flow can plan their spending more wisely and clear cash flow problems.

Tracking Expenses:?

American Express Business Blueprint also includes a cost tracking tool that is crucial. Owners of businesses can quickly classify their expenses with this application and keep track of them in real time. Business owners that keep a close eye on their spending might find places to make savings and increase the profitability of their company.

Financial Goal Setting:?

A financial goal setting tool is also available in the American Express Business Blueprint. Business leaders can use this application to define and monitor financial objectives, such as raising sales or cutting costs. Business owners can stay motivated and focused on attaining their financial objectives by creating specific financial goals and monitoring their progress.

Benefits of American Express Business Blueprint

Simplicity:?

Historically, small businesses have been underserved when it comes to smart, simple financial management tools, but American Express Business Blueprint is designed to be simple and easy to use. Similar to what Ottu has been doing in Kuwait and the MENA region for MSMEs. Because of its simplified yet innovative features, Ottu has accomplished massive success amongst businesses that were previously denied financial support from banking institutions. The simplicity of their platforms is what allows customers and merchants to make transactions with ease. Besides, the tools are accessible from anywhere, at any time, and can be used by businesses of all sizes.?

Time Savings:?

Neither a customer nor a business owner likes a time consuming process, especially when it comes to managing finances. Ottu's configurable reporting makes their conciliation process better by eliminating the time-consuming manual work needed to get reports from multiple payment gateway interfaces. This greatly improves overall productivity. Similarly by automating tasks such as expense tracking and cash flow forecasting, Business Blueprint can save business owners a significant amount of time. This time can be better spent growing their business and serving their customers.?

One-stop integrated Platform:?

By providing real-time financial information and tools for managing cash flow, expenses, and financial goals, Business Blueprint marks a critical next step in American Express's vision of becoming a one-stop digital shop for small businesses financial needs. You will be able to view all of your money in and money out and money at risk over a single platform.

Final Words

Overall, the advent of these financial management tools is a huge step forward for American Express and small businesses. Ever since the inception of Ottu, Kuwaiti MSMEs have flourished in their respective businesses. And now, by making these tools available to their cardholders, American Express has raised the standard in aiding small businesses to save time, manage their money more efficiently, and ultimately grow their business. With this new collection of financial management tools, American Express provides a vital resource to small businesses that want to survive in today's competitive business environment.