Reimagining Global Cards and Travel Management for the Enterprise

Introduction

• Brex and Navan, leaders in financial services and travel management, have announced a new partnership.
• Both companies were founded in the mid-2010s and have quickly become significant players in their respective industries.
• The partnership aims to provide a combined offering of global corporate cards and travel management for enterprise companies.

Shared Vision

• Brex focuses on financial efficiency for businesses, while Navan facilitates in-person connections through travel.
• The collaboration addresses the unmet needs of enterprise customers regarding payments and travel.
• Legacy systems like Amex and Concur have been insufficient in integrating card and travel management, leading to substantial inefficiencies.

Integration and Infrastructure

• Enterprises traditionally used a lodge or central travel card disconnected from travel management platforms, resulting in cumbersome reconciliation processes.
• Brex built a financial infrastructure integrated with Mastercard, while Navan created a corporate travel framework.
• By combining these infrastructures, they offer a seamless global travel payments experience.

BrexPay for Navan

• A new product, BrexPay, directly integrates Brex cards into Navan's travel software.
• This integration allows for 100% automated travel payment reconciliation.
  • Each travel booking is linked to a traveler and trip without manual intervention.
  • Virtual card numbers are used for each booking.
• Enterprises can activate local currency cards for subsidiaries across 50+ countries, avoiding FX fees and reducing onboarding time.

Features and Benefits

• Unified Global Card Program
  • Local currency cards in over 50 countries.
• Best-in-Class Travel Management
  • Access to global travel inventory.
• Automated Reconciliation
  • Saves hours each month through automation.

Future Prospects

• The partnership is just beginning, with plans to expand functionalities:
  • Enforce Navan's expense policies on Brex cards.
  • Manage Brex cards via Navan's interface.
• Early user feedback has been positive, highlighting enhanced efficiency and cost-effectiveness.

Modernizing Global Travel Spend

• BrexPay for Navan represents a modern and comprehensive solution for enterprise travel needs.
• Combines Brex's financial systems with Navan's travel offerings and support.

Conclusion

• Brex and Navan aim to set a new standard in enterprise corporate travel solutions through their partnership.
• Interested parties are encouraged to explore how BrexPay for Navan can optimize their global travel spend.

Authors: Pedro Franceschi (CEO, Brex) & Ariel Cohen (CEO, Navan)