MasterCard Worldwide, the leading global payment solutions company and Ariba, (Nasdaq:ARBA), the leading spend management solutions provider, today announced an agreement to enhance payment solutions for companies around the world.
Under this agreement, Ariba and MasterCard will connect enhanced transaction data from the MasterCard global data repository with Ariba Supplier Network, resulting in integration of purchasing and corporate card programs available for companies globally.
By combining enhanced data from the MasterCard global data repository with Ariba Supplier Network, companies will be able to eliminate many of the inefficiencies commonly associated with invoice reconciliation and expense reporting, streamline reconciliation and accounts payable processing, improve control over maverick spending, and enhance overall policy compliance.
"Our leadership in building integration solutions has made it possible for many companies to optimize their corporate card programs, but this innovative alliance extends those cost and time savings to their purchasing card programs. Now, companies with MasterCard Corporate and Purchasing card programs will have a single seamless and automated way to further optimize those programs," said Steve Abrams, Group Executive, Global Commercial Products, MasterCard Worldwide. "Purchasing card programs are coming under increasing corporate scrutiny, and industry research shows that 69% of companies expect purchasing card spending to increase or significantly increase over the next three years, according to a 2005 Purchasing Card Benchmark Survey Report by RPMG Research. As a pioneer in the integration of corporate card data, we are pleased to work with Ariba to further help companies optimize programs and uncover untapped savings."
"Companies do not want separate tools for Pcard purchase orders, Pcard and corporate card reporting, and reconciliation. They want integrated, streamlined Procure-to-Pay solutions," said Bob Solomon, Senior Vice President, Growing Enterprise Business, Ariba. "The integration of MasterCard enhanced data with Ariba Supplier Network allows companies with MasterCard Corporate and Purchasing card programs to reconcile their card-based transactions with their procurement tools and deliver on the promise of fewer systems to manage and easier processes."