Spend Management

Leading regional corporations’ ERP systems are only 65% ready for immediate cash-flow forecasting and analysis, with the rest requiring manual intervention, potentially because of the need to input expenses tracked through multiple systems. As a result, 92% of leading regional corporations do not have access to analytic reports that provide real-time cash visibility*. (*1 The 2014 Visa Cash Flow Visibility Index research was done in August-September with CFOs / Treasurers of 811 leading corporations in ten countries/regions to better understand challenges that organizations may face with managing cash flow and ensuring visibility and predictability. The research was done by East & Partners, an independent specialist business banking market research and analysis firm. Regional data cover findings of Australia, Hong Kong, India, Japan, Malaysia and Singapore.)

Spend management capabilities enable businesses to gain visibility, establish and enforce controls in order to manage business spend. They help to achieve objectives such as reducing costs associated with doing business, including spend on goods and services for direct input or indirect material costs, office supplies and other expenses that do not go into a finished product developed by the company. This process includes corporate and procurement expenses management, compliance management and spend analytics.

How does Spend Management work

Automating expenses and payments using a Visa 16-digit account would allow for organizations to get their expense information in a clean and easy-to-use format that can be uploaded into their expense management systems. It also means that expenses and payments can be tracked in real-time, giving full visibility that could help organizations spot maverick buying or off-limit expenses.

The system is agile enough to ensure that changes in policies or regulations are immediately captured and limits are reset so that even during a transition, off-limit spending cannot occur.

Benefits

Trust Your Data

With this solution, you can track real-time expenses with full visibility of all Visa 16-digit account-based and electronic expenses, allowing you to plan, benchmark and track progress on a monthly or even daily basis. Since almost everything is automated, you limit manual intervention for immediate and error-free reconciliation.

Increased Clarity of Spending, ensuring Compliance

Payments made through a Visa 16-digit account gives you full visibility of expenses, while providing flexibility to respond to policy changes with immediate changes to the system. The system also enables you to spot off-limit and off-contract purchases through tracking while identifying volume transactions for better supplier negotiations.

Plan Better

Visibility of expenditure, cash flow forecasting, confidence in the source of your data, management of relationships with partners are all key to corporations when driving business growth. Yet corporations face challenges that undermine the integrity of the various sources of data and reporting necessary to make those informed business decisions.