MasterCard and CyberShift Align to Provide Corporations with an Integrated Expense Management Solution
MasterCard Worldwide and CyberShift, Inc., a provider of enterprise-class expense management and workforce management software, today announced an alliance to provide businesses with CyberShift's Expense Management Automation (EMA) solution. The agreement provides MasterCard issuers with a compelling travel and expense management solution that they can offer to their corporate card customers. Through the combined capabilities of CyberShift and MasterCard, corporate card customers will have access to a flexible expense management solution, open integration to travel booking systems of choice, superior travel and spend analytics, BlackBerry smartphone support, digital receipts filing, hotel folio data and much more, all delivered via a Software-as-a-Service (SaaS) model. The solution will enable corporations to enhance travel and card spending compliance through real-time data, ultimately reducing costs and errors across the board, and will provide issuers with a robust expense management solution to help customers get more from their corporate card programs.
Better manage spending, increase efficiencies
Research shows that organizations can effectively increase worker and approver productivity through electronic expense reporting, card data population and work-flow software. By minimizing manual entry, eliminating duplicate entry, and automating a portion of approvals, participants in a recent MasterCard study successfully achieved back-office time savings averaging 61% and cost savings averaging 68%. The ability to streamline processes and better manage spending is a key reason for the growth in adoption of expense management solutions, particularly as companies look for ways to reign in overall travel and entertainment expenditure.
CyberShift Expense is an end-to-end solution that allows for management of all business travel and expense reporting. Unlike other expense management solutions on the market, CyberShift Expense integrates seamlessly with other business processes and, when combined with MasterCard's enhanced card data, and detailed travel insights including itinerary and hotel folio detail, provides a superior offering for corporate customers. While the agreement with MasterCard is targeted at the middle market, financial institutions are also able to integrate the solution for large and multinational organizations.
Better manage spending, increase efficiencies
Research shows that organizations can effectively increase worker and approver productivity through electronic expense reporting, card data population and work-flow software. By minimizing manual entry, eliminating duplicate entry, and automating a portion of approvals, participants in a recent MasterCard study successfully achieved back-office time savings averaging 61% and cost savings averaging 68%. The ability to streamline processes and better manage spending is a key reason for the growth in adoption of expense management solutions, particularly as companies look for ways to reign in overall travel and entertainment expenditure.
CyberShift Expense is an end-to-end solution that allows for management of all business travel and expense reporting. Unlike other expense management solutions on the market, CyberShift Expense integrates seamlessly with other business processes and, when combined with MasterCard's enhanced card data, and detailed travel insights including itinerary and hotel folio detail, provides a superior offering for corporate customers. While the agreement with MasterCard is targeted at the middle market, financial institutions are also able to integrate the solution for large and multinational organizations.