MasterCard Partner with Oracle

Tuesday 25 May 2004 09:37 CET | News

MasterCard has partnered with Oracle, to develop and promote comprehensive transaction data integration programs.

In keeping with a key objective of MasterCards e-Commerce Center of Excellence to integrate the entire financial and information value chain, the new partnership connects MasterCards Oracle-based global data repository with the world-class functionality of the Oracle E-Business Suite. The resulting program simplifies transaction data reconciliation and automates processes while maximizing efficiency and return on investment (ROI) for MasterCard and Oracle customers. Delivery of enhanced transaction data -- both travel and expense (T&E) and purchasing card data -- from MasterCards central hub into select applications within Oracles E-Business Suite standardizes the capture and integration of MasterCard transaction data and harnesses functionality and capabilities inherent in Oracle applications. By centralizing and standardizing these processes, Oracle customers and MasterCard member banks are relieved of the burden of customized projects, developing code and conducting the integration work themselves. Benefits MasterCard and Oracle customers will realize from the integration of MasterCard Purchasing Card data with Oracle Payables and MasterCard T&E data with Oracle Internet Expenses include: -- The automation of manual, paper-based processes for increased time and cost savings; -- The ability to review, approve and share both purchase order (PO)-based and non-PO-based purchase transactions, across different cost centers; -- The online submission, approval and management of business expenses; and -- Access to an unprecedented level of expense detail, including hotel folio and enhanced airline data through MasterCard ExpenSys. As a member of the Oracle Partner Network and longtime Oracle customer, MasterCard has used the Oracle Internet Expenses module to better leverage its existing Oracle Financials applications for maximized efficiencies, reduced costs, and a greater return on its Oracle E-Business Suite investment. In addition, the ability to integrate MasterCard commercial card data with Oracle applications in an automated, Web-based manner has enabled MasterCard financial executives to access accurate and timely expense information across the organization at any given time.

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Categories: Payments & Commerce | Payments General
Countries: World
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