Global Platform Introduced in Alliance with Spendvision; Delivers
Step Forward in Meeting Critical Reporting and Expense Management Needs
of Businesses
SAN FRANCISCO--(BUSINESS WIRE)--Sep. 30, 2009--
Visa Inc. (NYSE: V) today announced the introduction of Visa IntelliLink
Spend Management – a new global information tool that provides extensive
reporting and expense management capabilities for organizations of all
sizes on a single scalable platform.
Comprised of three core solutions – reporting, data services, and
program support – Visa IntelliLink Spend Management integrates with the
entire suite of Visa B2B payment products. The platform is designed to
meet the key information management needs of financial institutions and
their clients across all small business, commercial, purchasing,
corporate, central travel, multinational and fleet programs.
The platform is unique in its ability to provide reporting and
full-featured expense management in a single, integrated offering,
including:
-
Extensive expense management capabilities, including compliance
triggers, receipt imaging, multi-level transaction data and direct ERP
integration
-
Enhanced data capture, matching and delivery
-
Integration of non-card spend to support sourcing analytics across the
entire accounts payable function
-
Multiple branding options for issuers, including tools that can be
customized to support differentiation strategies
-
Dashboard management and flexible reporting tools, and alerts for
cardholders and commercial program managers
-
Options for extending capabilities beyond payment, including travel
booking integration
“Effective expense management requires flexible, intuitive, on-demand
access to information to support a stronger understanding of spend
patterns, increased control over spending and greater insights that help
companies save time and money,” said
Darren Parslow
, head of global
commercial solutions, Visa Inc. “Visa IntelliLink answers a global need
for visibility and control over procurement, travel and entertainment
expenses, in an easy-to-use, integrated format that enables users to see
and act on critical spend information. We believe this new global
platform offers reporting and expense management solutions and
capabilities beyond those available in the marketplace today.”
Benefits for card issuers and commercial clients
Through Visa IntelliLink Spend Management, financial institutions can
create significant advantage by addressing the needs of a spectrum of
companies, increasing differentiation, and deepening customer
relationships. Capable of tracking and reporting data on both local and
multinational levels, the platform can be implemented quickly by client
organizations, and is simple for card issuers to customize, deliver and
support.
For commercial card clients, Visa IntelliLink Spend Management provides
enhanced visibility into and control over expenses, as well as easy
access to information through dashboards and alerts, the ability to
track both card and non-card transactions, and local and global
functionality, e.g., multi-language support, dual- and multi-currency
card program support, and local tax support.
Visa IntelliLink Spend Management is provided through an alliance with
Spendvision, allowing Visa clients to utilize a proven, industry-leading
platform to strengthen their competitive advantage with converged
transaction management.
“Spendvision is excited to partner with Visa to help financial
institutions increase their differentiation in the marketplace and
enhance customer loyalty,” said
Robert Kirby
, CEO, Spendvision. “Through
just one platform we can support their immediate reporting and expense
management needs and also the more complex requirements that clients
demand. In an increasingly competitive marketplace this solid foundation
positions them strongly for tomorrow’s payment space.”
“Procurement is all about a company getting the best deals it can from
suppliers and ensuring that employees fully utilize those deals when
making purchases. Central to optimizing procurement functions is having
accurate, timely and actionable information about the company’s total
spending patterns,” said
Nancy Atkinson
, senior analyst, Aite Group.
“Visa IntelliLink Spend Management provides a single platform that
accommodates the needs of companies of all sizes, specific tax
requirements worldwide, and supports the full range of commercial card
products, including travel, purchasing, and fleet. Visa IntelliLink
Spend Management incorporates all spending — cards and non-cards alike.
It provides a single platform to collect and analyze worldwide
purchasing activities to provide a consolidated view and support
effective spend management, which will offer issuers a strong
differentiator for their commercial card programs.”
Visa IntelliLink Spend Management will replace, over a migration period,
existing Visa Information Source, Visa Information Source Select, and
other Visa information management tools with a single, global platform.
The Visa IntelliLink suite also includes a Compliance Management Tool
for Government, a leading solution currently used by U.S. banks with
Federal Government agencies and states to help ensure card program
compliance with agency procurement and travel policies.
Visa IntelliLink Spend Management is available to commercial card
issuers around the globe immediately.
About Visa Inc.
Visa Inc. operates the world's largest retail electronic payments
network providing processing services and payment product platforms.
This includes consumer credit, debit, prepaid and commercial payments,
which are offered under the Visa, Visa Electron, Interlink and PLUS
brands. Visa enjoys unsurpassed acceptance around the world, and
Visa/PLUS is one of the world's largest global ATM networks, offering
cash access in local currency in more than 170 countries. For more
information, visit www.corporate.visa.com.
About Spendvision
Spendvision is a leading innovator of transaction management solutions.
Through just one technology platform Spendvision delivers more effective
purchasing that increases business profitability, improves decision
making and delivers greater control and compliance. All this across the
broadest range of transactions from simple cash, card, online travel
bookings and telecoms right through to interactive coding, requisitions
and dynamically funded accounts.
Spendvision is headquartered in the UK with offices in the US, Australia
and New Zealand, and works with leading customers and partners around
the world. The Spendvision solution is available direct to businesses
and through partners across the banking, telecommunications and travel
sectors that provide the solution to their customers in their own brand.
www.spendvision.com
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Source: Visa Inc.
Visa Inc.
Jennifer Doidge, 415-932-2564
globalmedia@visa.com
or
Spendvision
Vicki
Scheele, +44 207 401 0157
vscheele@spendvision.com