MasterCard Integrate Corporate Payment Data with PeopleSoft Enterprise Expense Management Solutions

Friday 23 July 2004 13:00 CET | News

MasterCard has added capability to seamlessly integrate MasterCard Corporate Card data into PeopleSoft Enterprise Expense Management (EM) applications.

This turnkey integration allows customers of both companies to streamline business processes, cut time dedicated to managing corporate expenses and access timely, accurate data, which reduces financial management costs and increases control. This integration enhances the relationship announced in November 2003 with the launch of MasterCard ExpenSys, a travel and entertainment (T&E) reporting solution that integrates with existing third-party enterprise solutions, including PeopleSoft Enterprise Expense Management. PeopleSoft and MasterCard products, when used together, enable businesses to now integrate corporate card data into PeopleSoft Enterprise Financials, maximizing the benefits of PeopleSofts Enterprise Expense Management application and the information held in MasterCards state-of-the-art global data repository. In addition, businesses worldwide will be able to avoid the expensive and time-consuming process of building integrated payment card and enterprise resource planning (ERP) solutions in-house. According to the Aberdeen Group, reducing indirect expenses -- which can represent 30-60 percent of a companys total spending -- offers an excellent opportunity for fiscal and operational improvement. The MasterCard/PeopleSoft alliance addresses this opportunity head-on, providing MasterCard member financial institutions the ability to offer corporate customers a comprehensive solution for integrating T&E data with PeopleSofts leading ERP solutions. Other benefits include: -- Automatic expense reconciliation: integrating MasterCard transaction data with PeopleSoft SRM/eProcurement solutions enables companies to systematically reconcile purchasing card transactions and export data to other PeopleSoft financial solutions; -- Enhanced spending control: by integrating corporate payment card data with PeopleSoft applications, businesses have greater insight into corporate spending, which decreases maverick employee spending and ensures that vendors comply with contracts; -- ERP systems maximization: electronic delivery of payment card data in PeopleSoft Enterprise Expense Management applications enables companies to improve analysis of company-wide spending and better achieve regulatory compliance through the establishment of digital audit trails; and, -- Bottom-line cost savings: automating the time-intensive expense management process allows companies to re-focus employees on activities that help build the bottom-line. MasterCard Corporate Card data integration with PeopleSoft Enterprise Expenses 8.8 is available to customers immediately. Integration with the MasterCard Corporate Purchasing Card is planned to be available in 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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