Mastercard has launched a new platform to help corporate treasurers keep track of payment flows across multiple business lines.
By automating data ingestion from clients’ Enterprise Resource Planning (ERP) systems, Mastercard’s Global Treasury Intelligence provides a view of all payment flows across suppliers, commodities, and lines of business, integrated with relevant third-party data.
Developed in collaboration with spend analytics engine Robobai, the system provides coporations with a holistic view that enables them to ditch spreadsheets and more accurately anlyse global payments and manage risks.
Raj Seshadri, president, data & services, Mastercard, says: “The health of the business does not sit in just one team or silo. With Global Treasury Intelligence, we are providing the broad, interconnected views our customers need to make smarter decisions with better outcomes across their enterprises.”
He says the platform can be used for narrow applications like identifying opportunities for expansion of commercial cards, as well as broader applications like cash management, source to settle pay strategies, treasury services optimization, supplier ESG scoring, and Know Your Supplier assessments.
HSBC is an early adopter. Brian Tomkins, global head of commercial cards, HSBC, says the technology is helping the bank gain deeper insights into the needs of its clients. “By unlocking this data-driven collaboration with our customers, we see how to best help them achieve their goals for treasury,” he says.
The latest commercial-focused solution from Mastercard, the platform is designed to better support and advance digital payments for existing corporate customers. The platform captures commercial payment flows to support customer product needs today, including purchasing cards, procurement offerings and Travel & Entertainment (T&E) technology.
“This solution is a powerful addition to our suite of insights and analytics services. The insights it offers will help our customers to realize the full value of innovative Mastercard solutions such as Track BPS and Mastercard Instant Pay.”
Source: newsghana.com.gh