- RBS has introduced Visa IntelliLink Spend Management – a sophisticated new information and expense management tool for commercial card customers
- It gives companies and public sector organisations a new level of insight into and control over their spending – helping them to manage their procurement processes and save money
- The new tool is available to any RBS or NatWest customers who use Visa Corporate or Visa Purchasing payment programmes
London, 17 June 2015: RBS has partnered with Visa Europe to introduce Visa IntelliLink Spend Management, a new web-based expense management tool that helps companies and public sector organisations to track, analyse and manage their everyday spending.
Available immediately to RBS and NatWest corporate clients, Visa IntelliLink Spend Management integrates with both Visa Corporate and Visa Purchasing card programmes. By visiting a highly secure web-based interface, users can understand exactly where cardholders are spending, how much they are paying, and whether they are abiding by procurement policies. They can also create a wide range of customised spending reports, and can easily integrate the data with other accounting and enterprise resource planning (ERP) systems.
Visa IntelliLink also enables users to monitor spending patterns and behaviours at an individual, departmental or supplier leveI. And, because the tool stores more than two years’ worth of spending data, historical trends and patterns can be analysed and anomalies can be resolved.
Another benefit for UK-based users is that the data captured by the tool is accredited by HM Revenue & Customs for VAT reporting, which brings the opportunity for additional streamlining and savings.
So far, RBS has implemented Visa IntelliLink Spend Management across 11 of its largest Visa Corporate and Visa Procurement clients, and the bank is now making the tool available to all of its corporate and public sector clients.
“Commercial Cards are pleased to be able to offer Visa IntelliLink to its Visa card customers, where you are able to review and approve cardholder transactions, create spending analyses reports and data exports, and obtain HMRC approved VAT reports.” Says Cathy Dargue, Head of Commercial Cards and Payment Propositions, Commercial & Private Banking, RBS. “This brings our customers an opportunity to streamline processes and costs further by providing a simple way to track and report business expenditure.”
“Visa IntelliLink Spend Management is extremely flexible, yet it is also incredibly easy to use,” says Sandra Alzetta, Executive Director, Core Products, Visa Europe “RBS clients should therefore be able to enjoy immediate, tangible benefits. And, from experience, we know that well-managed corporate card programmes, backed-up by meaningful expense management information, tend to generate increased levels of spend.”
About Visa Europe
Visa Europe is a payments technology business owned and operated by member banks and other payment service providers from 37 countries across Europe.
Visa Europe is at the heart of the payments ecosystem providing the services and infrastructure to enable millions of European consumers, businesses and governments to make electronic payments. Its members are responsible for issuing cards, signing up retailers and deciding cardholder and retailer fees. Visa Europe is also the largest transaction processor in Europe, responsible for processing more than 16 billion transactions annually – at a rate of 1,627 transactions per second at peak times.
There are more than 515m Visa cards in Europe, while €1 in every €6 spent in Europe is on a Visa card. Total expenditure on Visa cards exceeds €2 trillion annually, with €1.5 trillion spent at point-of-sale.
Since 2004, Visa Europe has been independent of Visa Inc. and incorporated in the UK, with an exclusive, irrevocable and perpetual licence in Europe. Both companies work in partnership to enable global Visa payments in more than 200 countries and territories.
For more information, visit www.visaeurope.com and follow @VisaEuropeNews.