MasterCard International today announced a partnership with Oracle Corporation (Nasdaq:ORCL), the world's largest enterprise software company, to develop and promote comprehensive transaction data integration programs. In keeping with a key objective of MasterCard's e-Commerce Center of Excellence to integrate the entire financial and information value chain, the new partnership connects MasterCard's Oracle-based global data repository with the world-class functionality of the Oracle® E-Business Suite. The resulting program simplifies transaction data reconciliation and automates processes while maximizing efficiency and return on investment (ROI) for MasterCard and Oracle customers.
"Partnering with MasterCard was a natural fit for Oracle because together our solutions make the purchasing to payment cycle complete," said Steve Miranda, vice president of Financials Development at Oracle. "We are also simplifying the cycle for our customers by providing a step-by-step map that clearly shows them how to optimize their existing MasterCard and Oracle programs to get the most out of the transaction data residing in their systems."
Delivery of enhanced transaction data — both travel and expense (T&E) and purchasing card data — from MasterCard's central hub into select applications within Oracle's E-Business Suite standardizes the capture and integration of MasterCard transaction data and harnesses functionality and capabilities inherent in Oracle applications. By centralizing and standardizing these processes, Oracle customers and MasterCard member banks are relieved of the burden of customized projects, developing code and conducting the integration work themselves.
Benefits MasterCard and Oracle customers will realize from the integration of MasterCard Purchasing Card data with Oracle Payables and MasterCard T&E data with Oracle Internet Expenses include:
• The automation of manual, paper-based processes for increased time and cost savings;
• The ability to review, approve and share both purchase order (PO)-based and non-PO-based purchase transactions, across different cost centers;
• The online submission, approval and management of business expenses; and
• Access to an unprecedented level of expense detail, including hotel folio and enhanced airline data through MasterCard ExpenSys
As a member of the Oracle Partner Network and longtime Oracle customer, MasterCard has used the Oracle Internet Expenses module to better leverage its existing Oracle Financials applications for maximized efficiencies, reduced costs, and a greater return on its Oracle E-Business Suite investment. In addition, the ability to integrate MasterCard commercial card data with Oracle applications in an automated, Web-based manner has enabled MasterCard financial executives to access accurate and timely expense information across the organization at any given time.
"Being our own customer has brought to light the synergies between the MasterCard corporate card offerings and the Oracle e-Business Suite applications," said Phil Philliou, vice president, e-Business and Emerging Technologies, MasterCard International. "With Oracle, we have been able to take the greatest strengths of each partner to create turnkey data integration programs that provide superior data management through enhanced expense analysis, reporting and processing capabilities. Today's financial executives need this level of detail to achieve compliance, accurately forecast and effectively manage the bottom line."