Visa Creates Web-Based Service for Better Management of Commercial Payment Data

Monday 12 January 2004 16:24 CET | News

Visa USA has launched Visa Information Management, a Web portal service that offers organizations increased visibility of their procurement and payment data and enhanced reporting tools for Visa commercial transactions.

The new offering, which serves as a secure, centralized online repository for virtually all payment-related data is designed to help both the private and public sector better manage information, utilize payment-related data and make more effective decisions that ultimately improve the bottom-line. The Visa Information Management portal provides Visas financial institutions with a sophisticated Web-service technology that makes it easier for their business customers to integrate Visa reporting tools into existing organizational processes and improve their procurement and payment procedures. The service, which can be used either on its own or in conjunction with custom developed solutions from Visas leading financial institutions, helps businesses and government agencies achieve greater efficiency and lower their administrative overheads. Organizations also benefit from a customized user management feature for greater administrator control and an integrated mailbox capability that allows employees to conveniently share reports, upload and download files and convert documents into preferred formats. In addition, users are able to move seamlessly and securely among their various Visa reporting applications through a unique single ID and password system. This single sign-on capability is much easier to use than other time-intensive market offerings, which use multiple passwords, IDs and log-on sessions. Available with the Visa Information Management portal are a variety of tools that are capable of: -- Organizing data into useable information and reports for tracking expenses -- Managing supplier relationships and negotiating more favorable pricing terms -- Facilitating easier regulatory and tax compliance -- Integrating transaction data into back-office financial systems -- Setting administrative functions, such as user restrictions, based on corporate needs or policies Enhanced Services At the same time Visa has enhanced its Visa Information Source solution as part of the new Web portal service. The Web-based reporting tool, which supports Visa Purchasing, Corporate, Fleet and the Commercial one card, now has new functionality that builds upon the solutions ability to deliver scheduled interactive reports, cost allocation tools, and accounting system integration for better management of commercial spending by cardholder, department and supplier. New features include: -- Tailored account coding to match the existing accounting practices -- New supplier chains that group several suppliers together for enhanced reporting -- Flexible spending hierarchies for customized groups of Merchant Category Codes and organization hierarchy management -- U.S. and international tax reports that include easy-to-use tax estimates -- Multiple approval levels

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Categories: Payments & Commerce | Payments General
Countries: World
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