MasterCard today announced mobile innovations and feature enhancements to Smart Data, including a new mobile receipt application that liberates corporate cardholders from the burden of filing paper receipts for expenses.
The new Smart Data Mobile Receipt Capture App for iOS, Android and Blackberry users enables corporate cardholders to directly upload receipt images by taking a smartphone picture and attaching it to the transaction when filing their expense report, allowing cardholders to toss the dreaded paper receipt. Managers will appreciate the efficiency and control of the mobile app as it effortlessly connects the cardholder's receipt to the back-end accounting systems.
In addition, MasterCard is piloting a Mobile Fleet e-Receipt App to assist businesses and governments needing accurate and timely data to manage automotive fleets. The mobile fleet app allows drivers to visit any fuel merchant and enter the data required by their fleet managers, including the type and amount of fuel purchased, the price paid per gallon, the odometer reading, along with many additional features. With this new app, companies can benefit from greater vehicle efficiency and driver compliance that can help achieve additional costs savings.
"Providing companies with comprehensive data on spending is the first step in helping to streamline their expense management," said Robert Reeves, group head, Commercial Information Platforms Global Commercial Payments, MasterCard. "Our Smart Data products provide the most up-to-date tools and analytics that turn expense management from concern to success in a challenging business environment like the one today."
MasterCard Smart Data is an essential tool used by hundreds of issuers in more than 130 countries and with a Web-based expense reporting and management tool offered in 21 languages. It allows businesses of all sizes to increase control over their expenses. Small and mid-size companies expanding globally can exert compliance policy and integrate expense data to local systems, and large corporations can use data to fuel supplier negotiations, helping to improve their bottom line.
Additional enhancements to the Smart Data platform affect reporting efficiencies, including:
The Automation of User-Defined Exports (UDEs), which provide a self-service for businesses to create their own custom reports instead of requiring custom development through their issuers. This new UDE functionality can save financial institutions time and money because they will not need to pay for custom-built reports and they will receive reports faster.
The Smart Data Analytics enhancement also gives MasterCard commercial cardholders' management instant access to graphic, filterable reporting on spending so they can better understand the company's financial patterns.