Barclaycard Commercial has launched 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.
Total Spend Management provides customers with:
- Process efficiency: customers can eliminate time consuming activities and automate previously manual steps.
- 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.
- Convenience: make the lives of employees as easy as possible, and provides accessible and intuitive solutions that employees want to use.
- 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.
- 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.
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