Citigroup Global Transaction Services has introduced a web-based electronic query tool that allows corporate credit card clients to analyze spending patterns. Citibank Commercial Cards is offering the service in 29 countries.
Citigroup says clients can use the information to examine spending patterns, negotiate with vendors, and enforce corporate policies. For example, says Citigroup, hotel expenditures typically represent approximately 22% of total T&E base of a corporation. With the anticipated participation of hotel properties providing transaction data into the global data repository, travel managers within the corporation could use the Custom Reporting System to gain a better understanding of its occupancy requirements and related costs at leading hotels. This can lead to clients receiving better benefits from hotels, such as priority upgrades at certain hotels.
Users access the Citibank Global Data Repository, which consolidates commercial card client transactions from MasterCard, Visa and other providers, and data gathered from hotels, car rental agencies and airlines.
“Given this difficult economic climate, we look for ways to allow our commercial card clients to save money. We’re very pleased to be the only bankcard issuer of commercial cards to provide this service on a global basis,” says Gary Schneider, Global Business Manager for Citibank Commercial Cards. “While some issuers can provide information on a country-by-country basis, our capability is global, broader and deeper than any other out there. Used in conjunction with our recently introduced global data repository, the Citibank Custom Reporting System allows our commercial card clients to get access to more analytics (as many as 400 data elements) at any point in time.”