JPMorgan Treasury Services Tryes To Improve Expenses Visibility Of Its Commercial Cards

As companies look to maximise efficiencies as the economy slows, J.P. Morgan's Treasury Services business is helping its clients improve visibility on their expenses with commercial cards. JPMorgan clients are offered card programs in over 45 counties worldwide. JPMorgan Treasury

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As companies look to maximise efficiencies as the economy slows, J.P. Morgan’s Treasury Services business is helping its clients improve visibility on their expenses with commercial cards. JPMorgan clients are offered card programs in over 45 counties worldwide.

JPMorgan Treasury Services issues commercial cards in Europe, Canada and the US, and provides clients detailed reports to consolidate and analyse their spending. This is delivered via a market-leading web-based management information tool. In addition to spending analysis, the data enables clients to negotiate better pricing with their vendors.

“This level of detail is a powerful tool, especially in the current economic environment,” said Alan Koenigsberg, Product Executive, International Commercial Cards at JPMorgan. “Companies are looking for every opportunity to increase visibility on expenses and to reduce costs. Current market conditions are driving them to take a fresh look at their spending and how to be more efficient.”

In addition, the Single Euro Payments Area (SEPA) across the Eurozone countries is driving further efficiencies in the European payments market, including cards, which will help companies save money.

“The market will benefit from the combination of the growth of cards across Europe plus the introduction of SEPA, which ultimately will harmonise the payment system across the Eurozone, including debit cards and payments,” says Koenigsberg. “The fewer payment systems there are, the greater the efficiencies in the market.”

Outside of the US, Canada and Europe, JPMorgan issues commercial cards through a “best in class” alliance bank network. This network includes delivering card solutions in Asia, the Middle East, Africa and Latin America.

D.C.

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