Integration to streamline corporate travel & expense management process
Purchase, NY — July 21, 2004 — MasterCard International announced today the capability to integrate MasterCard Corporate Card data into PeopleSoft Enterprise Expense Management (EM) applications. According to the provider, the integration allows customers of both companies to streamline business processes, cut time dedicated to managing corporate expenses and access accurate data, which can reduce financial management costs.
The companies said the integration is designed to enhance the relationship announced in November 2003 with the launch of MasterCard ExpenSys, a travel and entertainment (T&E) reporting solution that integrates with existing third-party enterprise solutions, including PeopleSoft Enterprise Expense Management.
Additionally, the PeopleSoft and MasterCard products, when used together, integrate corporate card data into PeopleSoft Enterprise Financials.
According to the Aberdeen Group, reducing indirect expenses — which can represent 30 to 60 percent of a company's total spending — offers an opportunity for fiscal and operational improvement. The companies said their alliance addresses this opportunity, providing MasterCard member financial institutions the ability to offer corporate customers a comprehensive solution for integrating T&E data with PeopleSoft's leading enterprise resource planning (ERP) solutions.
Chris Leone, vice president, PeopleSoft Enterprise Financial Management Solutions, commented, "Our customers will benefit by having the ability to achieve greater visibility of spending across the organization, providing the opportunity to leverage new cost-savings opportunities."
Philip Philliou, vice president, e-Business and Emerging Technologies, MasterCard International, said, "For MasterCard, this partnership is significant because it accelerates our goal of providing complete integration for companies' financial and information value chain."
