Integrated Corporate Payment Card Data Programmes
MasterCard and Oracle Partner to Deliver Integrated Corporate Payment Card Data Programmes
Industry Leaders Join Forces to Create Comprehensive Transaction Data Integration Programmes to Help Enterprises Achieve Maximum IT and Payment Systems ROI
Auckland, May 24, 2004 - MasterCard International today announced a partnership with Oracle Corporation, the world’s largest enterprise software company, to develop and promote comprehensive transaction data integration programmes. In keeping with a key objective of MasterCard’s e-Commerce Centre 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 programme simplifies transaction data reconciliation and automates processes while maximising 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 optimise their existing MasterCard and Oracle programmes 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 standardises the capture and integration of MasterCard transaction data and harnesses functionality and capabilities inherent in Oracle applications. By centralising and standardising these processes, Oracle customers and MasterCard member banks are relieved of the burden of customised projects, developing code and conducting the integration work themselves.
Benefits MasterCard and Oracle customers will realise 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 centres;
- 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 maximised 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 organisation 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 programmes 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.”