Navan, the all-in-one travel, corporate card, and expense management super app, today announced the launch of Navan Connect (patent-pending), an innovative card link technology that enables finance leaders to directly access the benefits of Navan Expense automated expense management with any enrolled corporate Mastercard or Visa card.
In the latest example of people-centric software design, Navan has reimagined expense management, enabling businesses to enjoy the benefits of the travel and expense solution employees love, while keeping the benefits of the company’s existing bank and corporate card partner. With the swipe of an enrolled card, expenses are automatically checked against company policy, categorized, and reconciled.
“We’re truly proud of the evolution Navan has undergone, solidifying its position as the preeminent travel and expense solution worldwide. Our groundbreaking approach, launched three years ago, redefined expense management by turning tedious tasks like receipt collection and bill itemization into a streamlined process. Navan’s proprietary corporate card independently checks policies and captures expenses, effortlessly managing finance and accounting,” said Ariel Cohen, co-founder and CEO of Navan. “With Navan Connect, we’re expanding this convenience and efficiency to the corporate cards that our customers prefer, harmonizing personal choice with corporate needs. It’s not just a product; it’s our pledge to simplify expense management while enhancing flexibility and control for businesses.”
Since its debut in 2020, Navan Expense has recorded 80x spend volume growth and helped companies around the globe reduce out-of-policy spend, thanks to innovative tools like smart policy controls and auto-itemization. Navan Connect extends those benefits to a company’s existing corporate card.
From AI-powered personalized travel results to automated expense reports that are submitted with the swipe of a card to giving rewards to travelers who save company money when they book below policy, Navan’s end-to-end T&E platform streamlines travel and expense management, allowing users to focus on what matters most.
“As a financial services leader working to remove barriers and connect more people to the global economy, Visa has long understood the value of the Navan Expense experience — which offers the kind of proactive controls that enables companies to give every employee a card,” says Veronica Fernandez, SVP, North America Head of Business Solutions at Visa. “Navan Connect helps address the challenges and limitations that historically prevented modern expense solutions to be made available outside of Silicon Valley.”
Combined with the end-to-end Navan T&E solution, Navan Connect enables companies to:
- Keep the loyalty rewards, rebates, and banking relationships that matter most without sacrificing their corporate card. With Navan Connect, companies keep all the benefits of their existing corporate card program, from rewards and rebates to global card acceptance and banking relationships.
- Issue a card to every employee, thanks to powerful spend controls that apply policy at the time of swipe. With Navan Connect, finance teams can access a new kind of control over corporate cards at any level, role, or expense category.
- See each expense in real time. Companies have full visibility into every expense the instant it happens with pending and cleared transactions that automatically appear in the dashboard to enable finance leaders to uncover savings opportunities.
“This is a game-changer when it comes to managing expenses,” says EVP and General Manager of Navan Expense, Michael Sindicich. “It’s a big step forward for finance leaders, who want to keep their employees happy with a modern solution but without the disruption caused by changing corporate card programs. We’re excited about this groundbreaking solution, which helps organizations streamline their processes and focus on what really counts.”
Source: Company Press Release
