Country Manager, Visa West Africa, Mr. Ade Ashaye
Visa Incorporated, a global payment technology, has introduced the Visa IntelliLink Spend Management, a web-based reporting and expense management solution that helps organisations monitor and control corporate spending patterns.
Speaking to journalists at a media briefing in Lagos, officials of Visa described the Visa IntelliLink as a product that is offered by more than 35 financial institutions.
The Country Manager, Visa West Africa, Mr. Ade Ashaye, explained that by monitoring compliance to business spending policies, Visa IntelliLink Spend Management can help companies manage corporate expenditure and identify opportunities for savings.
Ashaye added that the integrated solution is targeted at card programme managers, finance managers, procurement managers, travel managers, employee cardholders, and auditors who can use it to effectively monitor, control and manage expenses incurred by employees who are spending on behalf of their companies.
On his part, Another Senior official of Visa, Mr. David Levey, also explained that the software enables companies to enhance operational efficiencies to achieve process cost savings. According to him, the Visa IntelliLink Spend Management would benefit employee cardholders who would be able to verify their expenses and manage expense claims more easily.
Levey said: Visa IntelliLink Spend Management integrates with the suite of Visa B2B payment products and is provided by Visa and offered by financial institutions around the world. It is fully accessible on the web, which means that there is no additional hardware or software cost to implement the solution.
“With the ongoing changes in financial reporting and the current cash-less Lagos project, Nigerian companies are increasingly adopting global standards for reporting, accounting and expense management. The addition of Visa IntelliLink Spend Management to our core commercial card payment offerings means that corporate enterprises and public sector institutions can benefit from flexible solutions that improve reporting and control.”
Also, Nicholas Lee of Visa, stated that the Visa IntelliLink Spend Management incorporates various modules to help analyse and compare transactions to business spending policies while also making information easily accessible.
He added: “It also provides organisations with relevant information that supports cost reduction, improved use of funds and better management of business operations and cash flow processes.”