MasterCard to provide hotel expense data for corporate customers
04 February 2004 | 406 views | 0
Expanding on its best-in-class suite of enhanced data management solutions for corporations, MasterCard International today announced relationships with premier hotel brands including Carlson Hotels Worldwide, Choice Hotels International and Hilton Hotels Corporation that will simplify business travel expense management processes for corporations and their business travelers.
Corporations whose business travelers use MasterCard corporate payment cards while staying at one of more than 6,000 participating properties, including Carlson, Choice, Hilton, and select other properties, can now have enhanced hotel expense data, including itemized expenses incurred during the hotel stay, electronically-delivered to their expense management systems.
This offering represents the latest addition to MasterCard's suite of enhanced data management solutions which provide corporations with detailed transaction information and state-of-the-art delivery systems to more efficiently track, analyze and report business-related expenditures.
"With an emphasis on the bottom-line, corporations are constantly seeking programs which help manage and track business travel expenses, while simultaneously reducing processing inefficiencies by saving time and money," said Steve Abrams, senior vice president, MasterCard Corporate Payment Solutions. "Through these alliances, an enhanced level of travel-related information can now be passed electronically through to the corporation allowing for increased control, analysis and reporting of business travel expenditures."
Enhanced hotel expense data provided through the use of a MasterCard Corporate Card includes such detailed transaction information as telephone charges, taxes, business center fees, as well as miscellaneous in-room expenses.
The enhanced hotel expense data elements are captured and ultimately presented back to the corporation via its issuing financial institution in an electronic format accompanying the monthly MasterCard Corporate Card invoicing detail. The resulting transaction data can then be incorporated into the corporation's expense analysis and management reporting systems, streamlining the accounts payable process. From the business travelers' perspective, enhanced hotel expense data reporting eliminates the inefficiencies commonly associated with manual allocation of hotel-related travel expenses.
MasterCard Corporate Card issuers Bank One, Citibank, GE Corporate Payment Services and JPMorgan Chase, are the first financial institutions to offer this service to their corporate customers.
MasterCard's Enhanced Data Management Solutions
Enhanced hotel expense data represents the latest addition to MasterCard's suite of enhanced data management solutions which are designed to allow corporations to more effectively capture, manage and report business-related expenditures.
In addition to enhanced hotel expense data, MasterCard has a long history of offering enhanced data capture capabilities for fleet, airline and purchasing-related expenditures. Stored and managed via MasterCard's global data warehouse, the enhanced data can be transmitted to a variety of Web-based expense reporting tools, including MasterCard Smart Data OnLine(tm), a global Web-based reporting application designed to help seamlessly organize, consolidate, analyze and manage financial data; and MasterCard ExpenSys(tm), an expense reporting solution, created in tandem with leading expense management system providers, which offers a range of fully-electronic solutions for managing travel expenses.