Barclaycard Commercial has today (30th November 2011) announced the launch of Total Spend Management, a new online platform to help large customers manage global business payments, regardless of value or volume.
The new system provides a number of key benefits including giving businesses that work across markets total visibility to ensure all payments across international borders and currencies are managed in the most efficient way possible.
Total Spend Management has been designed in response to the drive by businesses to reduce operational costs in the face of tough trading conditions. According to recent research published by Ernst & Young, 34 per cent of senior managers and CEO's are striving to drive down overall costs by between five and 10 per cent.
Total Spend Management provides customers with:
1) Process efficiency:
* Customers can eliminate time consuming activities and automate previously manual steps
2) Control and compliance:
* Ensure employees are complying with procurement policies and ensure payments are made to the correct supplier for the right goods and services at the right time
* Make the lives of employees as easy as possible, and provides accessible and intuitive solutions that employees want to use
4) Effective sourcing:
* Greater visibility of the organisation's spending can be accessed quickly and cost effectively, improving the ability to track and plan budgets, negotiate more effectively with suppliers and understand where spend could be better managed within the organisation
5) Working capital management:
* Balance the cashflow needs of the organisation with the needs of those they are paying
Dennis Bauer, Managing Director, Barclaycard Commercial, said:
"Organisations have been put under increasing pressure to cut costs. This new platform and total spend management approach opens up a whole new area of how to bring about increased efficiency for our customers and cost savings.
The launch of total spend management brings innovation and fresh thinking together, to provide a complete payments solution for our customers, offering one supplier to manage all transaer to manaer to manage all transactions across the borders and currencies they operate within. We have solutions in place to cover simple stationery costs to more complex one off high value payments. Our customers can feel confident that Barclaycard Commercial can provide complete control and visibility, and ultimately manage all their commercial payments in one place. We are dedicated to providing the right solutions for our customers' needs and helping them to unlock hidden costs, enabling them to grow."