Integrated Solution Helps Organizations Simplify Travel Expense Management by Increasing Efficiencies and Uncovering Cost Savings and Policy Compliance Opportunities
PURCHASE, N.Y. and PARSIPPANY, N.J., Aug. 24 /PRNewswire-FirstCall/ -- MasterCard Worldwide (NYSE: MA) and CyberShift, Inc., a leading provider of enterprise-class expense management and workforce management software, today announced an alliance to provide businesses with CyberShift's Expense Management Automation (EMA) solution. The agreement provides MasterCard issuers with a compelling travel and expense management solution that they can offer to their corporate card customers. Through the combined capabilities of CyberShift and MasterCard, corporate card customers will have access to a flexible expense management solution, open integration to travel booking systems of choice, superior travel and spend analytics, BlackBerry(R) smartphone support, digital receipts filing, hotel folio data and much more, all delivered via a Software-as-a-Service (SaaS) model. The solution will enable corporations to enhance travel and card spend compliance through real-time data, ultimately reducing costs and errors across the board, and will provide issuers with a robust expense management solution to help customers get more from their corporate card programs.
Solution Helps Corporations Better Manage Spend, Increase Efficiencies
Research shows that organizations can effectively increase worker and approver productivity through electronic expense reporting, card data population and work-flow software. By minimizing manual entry, eliminating duplicate entry, and automating a portion of approvals, participants in a recent MasterCard study successfully achieved back-office time savings averaging 61% and cost savings averaging 68%. The ability to streamline processes and better manage spend is a key reason for the growth in adoption of expense management solutions, particularly as companies look for ways to reign in overall travel and entertainment expenditure.
"Given the difficult economic environment, companies of all sizes are looking for easy and cost-effective ways to reduce costs now," said Steve Abrams, Group Executive, Global Commercial Products, MasterCard Worldwide. "By offering an easy-to-implement, feature-rich travel and expense management solution that adapts to business requirements, integrates with existing systems and can be delivered via Software-as-a-Service (SaaS), issuers can provide their corporate customers with a solution that will make an immediate impact to their bottom line.
