Amidst the turbulent economy, companies are looking for ways to reduce costs. Workforce and expense management solution is the newest mantra to manage costs effectively, streamline processes and accomplish back-office time savings. Companies also focus on controlling and reducing travel and entertainment expenditures.
Recently, MasterCard Inc. (MA) and CyberShift (a leader in providing workforce and expense management software) entered into a strategic partnership. The partnership aims to provide business with CyberShift’s Expense Management Automation (EMA) in the mid segment market.
By improving compliance, implementing expense policies and procedures and enhancing visibility into operations, CyberShift Expense automates the processing and eases the management of employee expenses such as travel and entertainment.
Through this partnership, MasterCard issuers can now offer their corporate card customers travel and expense management solution best suited for their business requirements. These services are to be delivered through the Software-as-a-Service (SaaS) model at an extremely competitive price point.
The solution provides corporate card customers to have access to travel booking systems and hotel details, provides other services, and aids travel managers to locate cost reduction areas.
MasterCard Incorporated provides service in over 210 countries and territories through its MasterCard Worldwide Network, which establishes a link among customers, merchants, businesses and financial institutions. MasterCard operates and licenses payment card brands such as MasterCard, MasterCard Electronic, Maestro and Cirrus.
Read the full analyst report on “MA”
Zacks Investment Research