The New Migration: Global Card Programs

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The current global business crisis has cast into high relief a problem that has been increasingly apparent in recent years — inefficient, cumbersome cash management processes continue to prevent many companies from managing their working capital effectively.

The deep recession is forcing financial managers to review their procure-to-pay processes with an eye to effecting immediate improvements. Recent surveys show that most firms want to enhance cash management efficiency, streamline operations, cut costs, raise compliance and transparency levels and improve their strategic supplier relationships quickly. ¹

Achieving any of these goals requires establishing better controls. Leveraging the right technology can help ensure that compliance and efficiency are built into each stage of the procure-to-pay process. Via technology platforms, travel and entertainment (T&E) card programs enable firms to take control of these payment cycles and manage their cash positions more efficiently. Because T&E is one of the most controllable corporate expenses — typically representing between 1.5 and 3 percent of a company's revenue for firms in the top travel category — focusing on these programs has become increasingly attractive to firms looking to score an immediate return. ²

¹ Source: Association of Financial Professionals, 2009 Business Outlook Survey. Visa Inc., 2008 Global Cash Management Survey. Association of Financial Professionals, Minding Both Sides of Balance Sheet, 2008.
² MasterCard International

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The New Migration: Global Card Programs

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