MasterCard Worldwide this month announced the launch of the latest version of its Web-based expense reporting and data management system, which the company said more flexibly adapts to various travel program sizes and offers better reporting capabilities than previous versions.
Smartdata.gen2 is a scalable reporting tool that can leverage data, powered by MasterCard's global data repository, from hotel folios, airlines, car rental and rail companies and travel agencies, according to MasterCard. Monitoring can be customized to provide spending alerts and other tailored reports. The tool also can export data to such programs as Excel or enterprise resource planning systems.
Reporting capabilities are much more comprehensive, said Steve Abrams, MasterCard's global product group executive for commercial products. Customizable expense monitoring can set up spending alerts, analyze and filter specific data and create reports to help ensure compliance.
Flexibility is enhanced because the tool uses a Java platform, Abrams said. The older platform made it difficult to have the reporting tool built in, he said. The new platform makes it easier for small businesses to adapt the reporting to their needs, giving them a better handle on how employees are using their corporate cards.
David Hillman, principal of Deerfield, Ill.-based Consulting Strategies, cited its ability to export data into other such systems. "To the extent that it makes integration with other platforms and applications easier, and provides management the ability to analyze data in a more flexible and meaningful way, it's a positive enhancement for the market," Hillman said.
Abrams said the new version can report local currency transactions in a single currency, and it supports 14 languages.
MasterCard is phasing in elements of the revised reporting tool and will convert current customers to the new system over time. All new customers will be put on the new platform as of Jan.1, 2008.
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