Fintech & Ecommerce

Uber for Business Adds Integrations With Expense Management Providers

Uber for Business has integrated with Brex and Ramp cost management service providers.

Uber for Business Adds Integrations With Expense Management Providers

As a result of the mentioned solution, the matching of receipts for rides and meals in Uber will be automated. In this case, companies will be able to save time and simplify expenses. The relevant information is contained in Uber for Business‘ press release, which was published last Tuesday, December 19.

Susan Anderson, global head of Uber for Business and business development at Uber, says that interaction with Brex and Ramp provides an opportunity to optimize costs for companies of any size. According to her, in this case, the best conditions are created for employees on the move and those who keep accounting records.

The press release notes that the new integrations provide automatically generated receipts for Uber rides and meals ordered for delivery using Uber Eats. Also, interaction with Brex and Ramp allows companies to set limits on actions that employees can and cannot pay for. Another advantage of the new integrations is the visibility of transportation and meal spending in real-time.

The press release separately notes that the use of Brex and Ramp solutions optimizes the end-of-month closure, allows consumers to offer automatic matching of receipts and simplifies registration by providing features such as registry synchronization and generated invitations.

Susan Anderson says that integration with expense providers is an important decision in the context of moving towards achieving the goal of ensuring a high level of transparency and control that business travel and financial unit managers need to ensure that employee actions remain within certain budgetary limits and comply with corporate policy norms.

The press release notes that the new integrations join Uber’s Business platform, which is currently used by more than 200,000 companies to provide rides and meals to employees, customers, and guests.

Nowadays, there is a trend according to which, against the background of the growing scale of applying digital payments, firms’ employees increasingly expect that business expenses will be reimbursed as soon as possible, which does not include waiting for receipt and deposit of a check. In the United States, a special study found that 78% of consumers surveyed were extremely satisfied with receiving instant compensation.

In early December, Center announced that it had raised $30 million in investment funds, which will be used to develop new features for its cost management software. The digital product of this firm is designed to solve consumer problems related to the mentioned issue and mechanisms to ensure an acceptable financial aspect of rides.

Center intends to create an open platform that targets vertical software developers and financial institutions. The company also strives to offer customers client libraries and application programming interfaces, through which third parties are allowed to integrate card and expense management functions into their work processes.

As we have reported earlier, Uber and PayPal Extend Their Partnership.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.