Pivot Payables partners with American Express Sync

Automation replaces manual accounting tasks

Pivot Payables provides an accounting automation application that guarantees requests are sent to managers for budget approval and cost accounting. Furthermore, regarding statement closing, PivotLynx automates the reconciliation process between the card statement and the general ledger, removing the need for manual accounting tasks. To facilitate this integration, Pivot Payables is engaged in the American Express Sync Commercial Partner Program.

Eligible American Express US Business and Corporate Card Members using virtual Cards in PivotLynx can:

• Set precise controls for each on-demand virtual Card payment, such as defining spending limits or expiration dates, and modifying or deactivating these Cards whenever necessary;

• Assist in managing budgets tailored to specific projects while maintaining oversight and control over expenditures through spending limits and expiration dates;

• Retrieve virtual Card transaction data directly within the PivotLynx platform,  simplifying manual processes and increasing reconciliation efficiency.

• Officials from Pivot Payable stated that they started their collaboration with American Express to provide customers with the benefits of control, increased security, and cash flow management that come with using an American Express virtual Card, in conjunction with the PivotLynx application.

AI and automation processes

AI is increasingly being integrated to create more efficient and accurate workflows. Automation, using advanced software and artificial intelligence, handles repetitive and time-consuming tasks such as data entry, invoice processing, and financial reporting. This reduces the likelihood of human error and allows accountants to focus on more strategic activities, such as financial analysis and advising.

On the other hand, manual tasks still play a critical role in areas that require human judgment, creativity, or empathy, such as client consultations, complex decision-making, and the interpretation of nuanced financial data. By combining the strengths of both automation and manual processes, accounting professionals can deliver increased value and insight to their clients and organisations.