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Contract Number: CNR01117
Contract Date: 04/01/2006 – 05/31/2027
Agreement: Negotiation
Renewals: None
Award Summary: Click RFP Number Field to view all awarded suppliers
eProcurement: N/A
RFP Number & Name: Negotiated – No RFP / Commercial Card Program
Contract Availability: Higher Education; K-12; Other

American Express

The American Express contract helps institutions of all sizes create a customized payment program that saves costs, creates efficiencies through automation, improves institutional cash flow, and generates financial benefits that are calculated using the aggregate volume of all participating E&I members. The entire suite of American Express B2B Services is available at exclusive pre-negotiated rates.

Economic Benefit Model | TEB = 3.0-10.0%
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American Express is committed to helping organizations manage spend. Their entire B2B suite of payment solutions, including corporate card, purchasing card, vPayment, buyer initiated payments, and AP automation helps E&I members improve payment processes.

Contract Differentiators
  • Drive efficiency by reducing paper checks and transitioning to electronic payments
  • Closed loop network provides value through AMEX’s direct relationships between buyers and suppliers
  • No personal liability through corporate card programs
  • Integrated seamlessly into current AP solutions and payment programs
  • AMEX’s Supplier Enablement Team facilitates the supplier onboarding process
  • Corporate card products free up cash that you can put back into your business
  • Buyer initiated payments allows you to select the amount and date of the transaction, helping reduce uncertainties about payment timing and improve efficiencies
  • vPayment assigns a single-use account number to each transaction, sets a specific payment amount, date range, and transaction details to help control spend and facilitate reconciliation processes
  • Simplify the day-to-day processes for everyday purchases with corporate cards, which include monthly detailed reports with purchasing information to help track spend
  • Generous rebate program based on total E&I membership spend under this contract

Sustainability

American Express believes we have a role to play in supporting the transition to a low-carbon economy and has been working towards advancing climate solutions on multiple fronts.

More Information

Economic Benefit Model Statement

The E&I Economic Benefit Model™ (EBM) is a powerful tool that your institution can use to measure and communicate the overall value of its procurement activities. This benefit is derived from three key areas:

  • Cost Reduction
  • Cost Avoidance
  • Incentives & Revenue

Using the EBM, each of E&I’s more than 215 competitively solicited contracts have been scored with a Total Economic Benefit™ (TEB) to member institutions.

The TEB of this American Express contract is in the range of 3.0-10.0%.

ECONOMIC BENEFIT MODEL

Total Economic Benefit of this Contract:

3.0-10.0%

The Economic Benefit Model TEB is determined from baseline cost comparisons using historical data, competitive intelligence, market benchmarking, vendor quotes, and related criteria.

To learn more, visit EBM or contact your E&I Member Representative.

NOTE: This contract predates the launch of the Economic Benefit Model (EBM) and has not yet been subjected to the Model’s rigorous calculation. The Total Economic Benefit (TEB) above currently represents an average savings based on a limited number of data points.

Please check back soon! A full EBM calculation of this contract is pending, and this page will be updated accordingly.

Contract Documents & Updates

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Resources

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