PURCHASE, NY May 15, 2001 MasterCard International and SPS International Limited today introduced MasterCard SmartLink, a new software product that integrates procurement information from MasterCard Corporate Purchasing Cards with selected enterprise resource planning (ERP) systems, including SAP R/3. The integration of the MasterCard payment and data delivery mechanism into a corporation's ERP system is aimed at streamlining the monitoring, management and administration of direct and indirect corporate expenses.
There are quite a few advantages to having purchasing card information integrated into your company's ERP system. It helps eliminate the need for many manual processes, which are subject to human error. Also, businesses can automatically collect purchasing data, approve transactions, generate invoices, merge data with the general ledger, make split payments, and download individual transaction information all without having to wait until month's end to receive the statements to track expenses.
"MasterCard's global alliance with SPS underscores our commitment to create new solutions to benefit MasterCard Corporate Purchasing Card cardholders, their suppliers and financial institutions," said Steve Abrams, senior vice president, Corporate Payment Solutions, MasterCard International. "MasterCard SmartLink allows companies to automatically manage their transaction data on a day-to-day basis. Now, companies can spend less time administering financial processes and more time focusing on growing their core businesses. With MasterCard SmartLink, businesses will be able to reduce processing time and paperwork associated with internal authorization processes by up to 80 percent."
"SPS is very pleased that MasterCard Corporate Purchasing Card cardholders will have access to MasterCard SmartLink's functionality and cost saving benefits," said Errol Finkelstein, CEO, SPS. "We are committed to helping global businesses take advantage of the efficiencies offered through end-to-end e-procurement and offline systems. The technology we've built into MasterCard SmartLink is the boldest step in that direction. Our alliances with some of the world's leading ERP consultancies enables SPS to progressively fast-track implementation of MasterCard SmartLink on a global basis."