Global Card: The New Migration

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Many multinational corporations and regional firms are continuing to migrate to regional or global travel and entertainment (T&E) card programs. While this movement has been gathering speed for several years, it is achieving real momentum as the credit crisis increases economic pressure on businesses to review their procure-to-pay processes and establish better controls.

Because T&E is one of the most controllable corporate expenses — typically representing between 1.5% and 3% 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. Via technology platforms, T&E card programs enable firms to take control of payment cycles and manage their cash positions. Leveraging the right technology can help ensure that compliance and efficiency are built into each stage of the procure-to-pay process.