Moving to expand its online travel offerings, American Express Business Travel plans on Wednesday to launch a new online market for business travel services.

The company's "Intelligent Online Marketplace" aims to aggregate inventory from over 135,000 suppliers to give business travelers a single destination to purchase and manage flights, ground transportation, and hotel rooms, as well as ancillary travel expenses such as shipping, dining, and event tickets that tend not to be managed by corporate travel systems.

American Express claims that 49% of all travel and entertainment costs are unmanaged and that businesses pay from a 15% to 20% premium for purchases made outside of preferred providers.

Travel and entertainment is probably the third largest expense at large companies after salaries and benefits, yet it's poorly managed, says Priyan Fernando, EVP and COO of Global Business Travel at American Express. "This is about bringing simplicity, convenience, and peace of mind ... into one online marketplace."

Get the full story at Information Week