Brex Launches New Spend Mgmt. Tool with Software Platform

Financial services and technology company Brex has unveiled a new software platform, Brex Empower, that will launch with a new spend management tool.

Brex, which provides corporate cards and accounts largely to small businesses, on Wednesday announced spend management software that automatically can generate receipts via data from credit card networks and its partner network. It also lets company leaders create budgets for trips as well as teams, vendors and stipends, requiring managers to approve only items that are out of policy or beyond the set budget.

The Empower platform ultimately will “underpin everything Brex does,” including across travel, according to a spokesperson. Brex in 2018 launched a travel booking portal powered by TravelBank, letting travelers book hotels and flights through the Brex platform.

Michael B. Baker  www.businesstravelnews.com