Brex wants to speed up business processes with Brex Empower

Source: Brex

Brex on Wednesday announced its first foray into the world of financial software with Brex Empower, an innovative financial platform that will serve as the foundation for all future Brex products. For now, companies can use the platform to track expenses, view expenses in real time, simplify expense policy, and create budgets. Additionally, Brex revealed DoorDash as a new customer.

Brex Empower is a scalable platform that will include more features over time. It launches today with an expense management tool, but the company plans to integrate other products into the platform that address expenses, payroll, banking access, and travel, among others. . The platform hopes to speed up business processes and save time for executives and employees.

A Brex spokesperson said ZDNet that current Brex Corporate cardholders and customers will have access to Brex Empower over the coming months. New customers can sign up for a demo on the Brex website.

Starting today, customers can track their spending without collecting receipts or using another service to verify transactions. By leveraging data from credit card networks and partner outlets, the software can easily keep tabs on spending.

The software will also facilitate employee confidence by allowing leaders to monitor spending in real time. The expense management tool will allow leaders to request and create budgets for teams with defined expense policies reducing downtime for individual budget approvals. The expense tool offers guidance on creating policies and how they affect the business and will help manage business cash flow.

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Source: Brex

According to the press release, 33% of employees do not read expense policies. To help alleviate this problem, Brex is introducing a new way to visualize spending policies and make it easier to understand credit cards, bill paying, and refunds.

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“Innovative and fast-growing companies are always looking for ways to fight bureaucracy and accelerate the pace of business,” Henrique Dubugras, co-founder and co-CEO of Brex, said in the statement. “We designed Empower to do just that – empower businesses to use spend as a strategic lever for growth, unlocking spend in the right way to help businesses move forward.”

The new financial software hopes to reduce bureaucracy and traditionally slow systems to speed up business processes. DoorDash will be one of the first customers to use the new platform.

“Innovating and acting quickly is a key advantage in a competitive market,” Mike Kim, vice president of finance at DoorDash, said in the release. “Yet, financial tools haven’t kept pace with a rapidly growing distributed business like ours. Spend approvals can take days and limit our people’s ability to experiment and deliver exceptional experiences to our customers. clients.”

The mobile-centric platform will work seamlessly on existing financial systems and hopefully speed up business by giving customers access to multiple tools in one convenient place.

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