New transaction management platform provides power, control and visibility of costs across multiple business groups
DEERFIELD, Illinois– MobilityWire® – March 30, 2010
Spendvision, a global provider of total transaction management solutions, today announced major enhancements to its transaction management platform, designed to give multinational or group organisations comprehensive insight into corporate spend across multiple business units, currencies, languages and territories.
Aimed at organisations with several groups or divisions – such as Government agencies – Multi-Program Reporting allows CFOs to access spend levels across their entire organisation, irrespective of where transactions occurred. They can now access both a high level perspective of overall spend as well as more detailed breakdowns across any area of the business, using reporting tools to view spend by transaction type, merchant category, account or even supplier.
In addition, CFOs can now gain a single currency view of all spend – vital for making cross-territory comparisons – while the platform also allows for customisation based on specific local spend management requirements.
Many organisations have traditionally taken a siloed approach to transaction management based around different regions or corporate groups. Now however, CFOs are increasingly being asked to look beyond local needs and provide greater global insight into all types of corporate transactions, in order to find new ways of cutting costs and optimising corporate spend, as well as ensuring compliance in an increasingly stringent regulatory environment.
With its latest enhancements, Spendvision can easily and effectively service these requirements, providing a single platform capable of tracking and managing all corporate transactions – from rich procurement processes, integrated travel and expense management to telecoms services, electronic bills and payment.
“Whether it’s a telephone call or an airfare, all transactions are essentially purchases and need managing in a similar way,” said Robert Kirby, CEO of Spendvision. “We’re taking the transaction management market a step further by enabling organisations with multiple business groups to further consolidate and report on all spend from a single tool in a single currency, offering CXOs consistency, insight and above all greater control over purchasing activity.”
The Spendvision platform makes it easy for new groups to be integrated, meaning that multinationals can expand their use of the platform at their own pace. The solution also allows each business group to maintain their own discreet Spendvision ‘instance’, meaning that in the event of groups being sold off or partnerships dissolved, each party can continue using Spendvision without creating security or compliance issues.
Additional Multi-Program Reporting features include:
- Local platform customisation – separate business units can still structure the system based on individual needs and local currency and language options
- Reporting by supplier, transaction and amount, giving organisations more flexibility in the way they manage, plan and evaluate corporate spend
- General auditing – the ability to track when company-level options and settings are changed and by whom, as well as how organisations use key modules and functions
- Access and approvals – companies are able to grant advanced management access levels for different employee types, giving users visibility of only the reports and data they need
- Filtering and searching – additional search fields have been added, including the ability to filter reports by reporting currency
“With more and more employees now able to make corporate purchases, in the office, at home and on the move, it’s vital that from the top level down transaction management is kept as simple as possible,” continued Kirby. “We’re continually refining the Spendvision platform to ensure that – at all levels of management – the transaction information needed to make effective business decisions remains easily accessible, searchable and understandable, and our latest product enhancements offers our most comprehensive level of insight yet.”
Multi-Program Reporting is available as an ‘opt-in’ upgrade to the Spendvision platform, which is delivered over the internet, meaning that companies don’t have to invest in, install or maintain any hardware or software.
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, New Zealand, Japan and Singapore 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.
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