PricewaterhouseCoopers, the world`s largest professional services organisation, and payments technology firm Secure Payment Solutions International, Ltd (SPS International) today announced an agreement whereby PricewaterhouseCoopers will actively support the implementation of MasterCard SmartLink software at corporations and public sector organisations.
MasterCard SmartLink integrates procurement information from MasterCard Corporate Purchasing Cards with leading enterprise resource planning (ERP) systems, such as SAP R/3.
The alliance with PricewaterhouseCoopers will enable SPS to build the foundation and model for a full-scale implementation of MasterCard SmartLink at corporations and public sector institutions seeking to leverage existing ERP infrastructure to enable business-to-business procurement.
By implementing MasterCard SmartLink, businesses can automatically collect data, approve transactions, generate invoices, merge data with the general ledger, make split payments and download individual transaction information all with the click of a mouse - without having to wait until month-end to receive the statements to track expenses. MasterCard SmartLink eliminates the need for manual data, which will significantly reduce the potential for error, fraud and account abuse.
"This alliance further strengthens PricewaterhouseCoopers` service offering," said Richard Mackinnon-Little, partner, PricewaterhouseCoopers.
"MasterCard SmartLink is a logical foundation to streamline the purchasing process to benefit both businesses and their employees. PricewaterhouseCoopers will combine existing ERP system integration, procurement and change management expertise with MasterCard SmartLink to offer an end-to-end implementation service."
"SPS is very pleased to be working with PricewaterhouseCoopers in support of our implementation strategy for MasterCard SmartLink, which has received an outstanding level of response from ERP system administrators since its launch," said Errol Finkelstein, chief executive officer of SPS International. "PricewaterhouseCoopers will effectively establish a channel for us to assist the variety of ERP system administrators who have expressed interest in MasterCard SmartLink as a solution to enhance the proficiency and efficiency of their e-procurement needs."
How does MasterCard SmartLink work?
The integration of the MasterCard payment and data delivery mechanism into a corporation`s ERP system streamlines the monitoring, management and administration of direct and indirect corporate expenses. Now, ERP system administrators may generate transaction data specific to any corporate purchasing card cardholder at any point of transaction worldwide.
MasterCard SmartLink has been designed to specifically harness the tight controls inherent in SAP R/3 and other ERP systems, while eliminating the need for many of its costly and time-consuming manual processes.
Furthermore, SAP R/3 combined with MasterCard SmartLink and a MasterCard Purchasing Card enable a corporation to link its business processes with those of customers and suppliers, both online and offline. Through the synergies of this integrated solution, SAP customers will be able to extend the benefits of its investment in the SAP R/3 system to improve both supplier and employee responsiveness and company profitability.
University of Cape Town pioneers new technology
Recently, a highly successful pilot of MasterCard SmartLink was completed at the University of Cape Town, heralding a new era in purchasing.
"We are discovering new applications daily, making procedures and processing so much more hassle-free and smoother, saving vast amounts of time, administration, paperwork and cost," said Linda Harrower, the university`s purchasing administrator. "For example, the purchase of library and academic books from around the world was previously a laborious process, especially when arranging the banking drafts for payment. Now, it couldn`t be easier. If the user is entitled to buy it, the card will work and pop the cost into the correct general ledger account."
Share