MasterCard, CyberShift Form Alliance

Published: 24-Aug-2009

To provide integrated expense management solution that helps organizations simplify travel expense management, uncover cost savings and policy compliance opportunities

MasterCard Worldwide and CyberShift, a provider of enterprise-class expense management and workforce management software, have entered into an alliance to provide businesses with CyberShift's Expense Management Automation (EMA) solution. It has been reported that CyberShift Expense is an end-to-end solution that allows for management of all business travel and expense reporting

Reportedly, the solution will enable corporations to enhance travel and card spend compliance through real-time data, ultimately reducing costs and errors across the board. It is also likely to provide issuers with an expense management solution to help customers get more from their corporate card programs. While the agreement with MasterCard is targeted at the middle market, financial institutions are also able to integrate the solution for large and multinational organizations.

Steve Abrams, group executive, global commercial products, MasterCard Worldwide, said: Given the difficult economic environment, companies of all sizes are looking for easy and cost-effective ways to reduce costs now. The combined features of this offering enable corporate customers to gain greater spend visibility, increase employee efficiency, and monitor compliance with travel policies.

Robert Farina, CEO of CyberShift, said: In defining a comprehensive spend management solution for the middle market segment, MasterCard was a logical choice as a partner given its ability to move quickly to respond to marketplace demand for an open, competitive solution. Together, we'll be able to offer MasterCard issuers a compelling solution for their corporate card customers at an extremely competitive price point. Our comprehensive spend management capabilities and SaaS delivery will allow corporate card customers to control spend and rapidly achieve significant ROI.

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