MasterCard today introduced the latest enhancements to the MasterCard Smart Data offering, including its Web-based expense management and business intelligence solution, MasterCard smartdata.gen2.
These updates help enable companies of all sizes to better manage their business and increase cost savings through unsurpassed visibility and access to comprehensive spend analytics.
As more mid-sized companies do business on a global scale, they join larger multinational corporations in needing access to consolidated, detailed expense data that can be seamlessly integrated into their ERP and accounting systems. At the same time, small business owners need a solution that simplifies expense management and allows them to focus on running their business.
Included among the enhancements to smartdata.gen2 are:
- Improvements to expense reporting functionality, helping to drive greater efficiency, accountability and cost savings;
- Industry-leading data export capabilities, for the flexibility to serve every kind of customer; and,
- A new analytics module to monitor programs graphically and dynamically with a couple of clicks.
In addition, the MasterCard Global Data Repository was also upgraded to capture and distribute carbon scores, allowing interested corporations to track their estimated carbon footprint.
"Within the commercial payments space, it is absolutely vital that we provide comprehensive and usable data to our customers so they can streamline their purchasing processes and better manage expenses," said Ed Glassman, MasterCard group executive, Global Commercial Products. "The enhanced functionality of our Smart Data offering provides organizations of all sizes a solution that seamlessly integrates into their ERP and accounting systems, while simplifying everyday processes. Every improvement we made may help to drive savings for them down the line."
In a recent survey conducted by Blueframe and commissioned by MasterCard, issuers and end users overwhelmingly gave Smart Data top marks for satisfaction, and reported that "Smart Data is the best tool for tracking & analyzing data," and that it "...is efficient, with good features and functionality and excellent customer support. Overall, it offers very good value for us," among other reasons for satisfaction.
The MasterCard Smart Data platform offers usable spending data that can be configured for multiple card programs and market segments, including purchasing, corporate, fleet and travel card programs, allowing for applications and insights to be tailored and integrated for each organization. Over the past 18 years, more than 200 issuers have provided these services to hundreds of thousands of customers in more than 130 countries around the globe and in 21 languages.