Travel and expense management platform Perk announced the expansion of its Perk Spend product in the US, where companies spend over $1 billion each year on travel and corporate events. This was revealed on September 15, when Perk's co-founder and CEO Avi Meir noted that American companies' travel expenses are increasing, yet the available tools for managing them are not keeping up with these changes. According to him, "Companies in the US are increasing their travel expenses every year, but the tools for managing them do not meet the demands of the times."
Perk Spend, which has been successful in Europe, already shows that up to 40% of new deals are related to the combined travel and expense management offering. As a result, Perk is experiencing growing interest in its products, with the US already contributing 30% of the company's new business globally, and Perk expects similar dynamics as development progresses, making this country one of the fastest-growing markets for the company. Additionally, Perk Spend is designed to allow companies to use their existing corporate cards while staying connected to the Perk system and managing all transactions through a single platform.
In the near future, the company plans to launch a corporate card in the US, which will allow clients to manage expense control, earn cashback, and conduct secure transactions worldwide. Perk's President of Product and Technology Nikita Miller added, "Finance leaders don't want to choose between control and flexibility; they want both. Perk Spend provides them with visibility of every dollar spent in real-time while allowing employees to use corporate or personal cards and retain accumulated points." According to research, 57% of small and medium-sized enterprises in the US import goods or production resources from foreign suppliers, making international payments an important part of their daily operations.
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