Visa International and Necho Systems Corp., a leading provider of Web-based enterprise-wide travel and expense processing applications, announced a marketing alliance to deliver global expense management software to corporations with Visa Corporate card programs.
Necho Systems Corp. and Visa International will offer their services through Visa member financial institutions in the Asia Pacific and European Union regions initially, with expansion potential in Visa’s other four regions. Targeted at mid to large sized card programs, including those associated with multi-national corporations, Necho’s flagship travel and expense processing software, NavigatER helps corporations streamline the approval workflow process of expense claims, increase efficiency and reduce costs.
Visa Corporate is the ideal travel and entertainment payment solution for medium to large companies. These companies provide Visa Corporate cards to their employees who travel on business and require a payment card with worldwide acceptance, value-added services and cash access. Visa Corporate provides companies with acceptance at over 19 million merchant locations worldwide, meeting companies’ most important requirement. Visa Corporate also helps companies to monitor and control employees’ travel and entertainment expenditures, for both international and domestic traveling.
Necho Systems Corp. has developed a standard Visa corporate card import data interface that will automate the input import of Visa Corporate card transactions from the Visa Corporate Issuer to the company’s system.
With travel and entertainment expenses (T&E) being the third largest controllable expense that companies incur, more companies are turning to Visa Corporate for help in streamlining administration and reduce costs. Visa Corporate sales volume continues to grow at a rate exceeding 40% annually, as more companies enjoy the benefits of a card program. The partnership between Visa and Necho will help large companies better manage the data and information from their Visa Corporate cards, and therefore benefit from a greater level of savings and control. The combination of one of the world’s most accepted Corporate cards and one of the world’s leading T&E expense processing applications will enable companies to enjoy unprecedented client savings and benefits. The more you use the card, the more the company benefits.
“Visa research has shown that establishing an automated expense reporting system and capturing and storing data were the two key factors to better managing T&E,” said Jacqueline Buonassisi, Vice President, Small Business and T&E Platforms, Visa International. “Companies that implement these two best practices are achieving reductions of administration costs of 83%, and enjoying vendor discounts of approximately 18%. With this alliance, companies using Visa Corporate will be able to enjoy the significant savings and controls that it provides.”
“Necho’s NavigatER application provides Visa International clients with software that has been designed specifically to integrate with the Visa Corporate Card program, allowing businesses to gain the benefits of automating their expense claim workflow”, said Scott Anderson, president and founder of Necho Systems Corp. “Our partnership with Visa International is just one more way we’re trying to provide business solutions that deliver savings and convenience for the modern enterprise.”
About Visa Global Commercial Product Platforms
Visa International’s Commercial Product Platforms Division offers tailored commercial payment solutions for its member banks and corporate clients globally. Visa International is experiencing 40% annual growth rates across its commercial card product lines. There are more than 12 million Visa commercial cards issued globally. Visa International’s three commercial card programs, Visa Business, Visa Purchasing and Visa Corporate respectively focus on: the payment needs of small businesses; the procurement needs of medium to large firms; and the travel and entertainment expenses of medium to large firms.
Visa’s Commercial Product Platforms Division is also at the leading edge of expanding product platforms and integrating enhanced data, new technologies and delivery channels to meet changing commercial market needs. Visa’s business-to-business e-commerce initiatives have included online trading hubs, online procurement strategic alliances and global standards for worldwide interoperability.
About Visa International
As the “World’s Best Way to Pay,” Visa is the world’s leading payment brand and the largest payment system worldwide with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders.
Visa has more than 80 smart card programs in 35 countries and on the Internet, with 23 million Visa chip cards, including 8 million Visa Cash cards. Visa is pioneering SET Secure Electronic Transaction(TM) programs to enable and advance Internet commerce. There are over 1 billion Visa, Visa Electron, Visa Cash, Interlink and PLUS cards in the market.
Visa-branded cards generate US$1.6 trillion in annual volume and are accepted at over 19 million worldwide locations, including at more than 627,000 ATMs in the Visa Global ATM Network. Visa’s Internet address is [www.visa.com].
About Necho Systems Corp.
Necho Systems Corp. is a leading provider of Web-based travel and entertainment (T&E) expense processing solutions for reducing enterprise costs in mid-market organizations with a few hundred, to 10,000 travelers. Necho’s T&E applications provide enterprises with e-commerce processing and payment solutions that dynamically link to corporate card, enterprise resource planning (ERP) and payment systems. NavigatER, Necho’s Web-based T&E software automates every activity within expense processing, from expense claim creation through verification, audit and payment. Necho’s solutions extend into procurement to enable a total solution that offers increased data-capture, workflow and administration benefits across the enterprise.
Necho has specialized in T&E software solutions since 1995 and has many prominent clients including 7-Eleven, Inc., American Electric Power, Janssen-Ortho, Inc. and R.R. Donnelley & Sons. Necho has partnered with industry leaders to offer a complete solution for each client. Necho has offices across North America, for more information on Necho, contact us at email@example.com or 1-800-NECHOSC.