More than 20 brands have been granted access to the platform and more can apply on the Snapchat Ads website.
The tool will be available in the US, Canada, UK, France, Germany, Australia and other European markets from June.
According to parent company Snap, there is no cost for use and marketers can buy, manage, optimise and view data on their campaigns.
Ad Manager works across all Snap ad types and will also allow advertisers to manage key assets, from video creative to first-party audience lists.
The tool works alongside the Snapchat Mobile Dashboard, which lets advertisers view nad share Snap Ad creatives exactly as the user would experience it.
They can also review live campaign metrics and receive key campaign notifications on their phones. It is accessible right from the Snapchat app for any advertiser running a campaign through the new Ad Manager.
Snapchat has also rolled out Business Manager, which will centralise the administration of the advertiser's key information. Advertisers can manage members, roles, permissions, access levels, billing contacts, as well as ad accounts.
These products have been tested with a small number of US-based small and medium sized businesses.
Online sneaker marketplace Goat was one of these firms and found that after only a few weeks of using the platform. The brand saw strong conversion rates along with strong targeting of Generation Z and Millennials.
"The platform gives us the real-time flexibility needed to run successful campaigns, and with hundreds of integrations it gives us the ability to capture the data we need to better understand ROI," Sen Sugano, vice-president of marketing for Goat said.