|Topic:||Corporate Payment Systems: On-Line Savings|
|Organisation:||Corporate Payment Solutions|
Jorn Lambert is Vice President, Corporate Payment Solutions at MasterCard, Europe. His responsibilities include the development of the commercial card business in Europe. In this capacity, Jorn and his team adapt and develop the MasterCard suite of corporate payment solutions for the European market, working with member banks to implement successful corporate programmes. Prior to joining MasterCard, Jorn spent many years in capital markets where he occupied various management positions in the areas of product development and management and corporate strategy.
Companies and government agencies worldwide are now use corporate purchasing cards. These cards, which simplify authorisation, payment, and accounting for corporate purchases, can be pre-programmed with an employee’s authorised limits for given types of product or service charges. Payment cards offer an e-commerce-ready system with simple, seamless, and secure payments. Purchase information can be monitored on-line in real-time, without waiting till month, or week, end. Reductions of up to 70% the cost of administering purchases have been reported.
There is an old Chinese saying that ‘we live in interesting times’ and in the business world this is certainly truer now than ever before. The business world has undergone immense changes in the last decade. Companies, today, source goods and services from around the world, and are equally likely to have staff scattered across countries and continents. This does not make the jobs of purchasing managers easy – gone are the days when purchasing was tracked and reconciled by a sole employee with a large leather-bound ledger. In today’s fast-moving world, companies and organisations need to have an overall view of their purchasing behaviour so that they can operate more efficiently, streamline their business and cut down on unnecessary time and expense. Many of them are now turning to corporate purchasing solutions to give them up-to-the-minute data.