ProCard, Inc. Wednesday announced the release of the most advanced Interned based commercial card management application in the market, PVS Net version 2. ProCard pioneered the first Internet based purchasing card management application when it launched PVS Net in 1997. PVS Net offers private and public sector clients a complete array of features necessary to support their credit card purchasing programs. PVS Net now provides hundreds of clients this online tool to monitor, manage and report on credit card purchasing activity.
Today’s announcement clearly positions ProCard as the commercial card industry’s leading technology provider. By focusing on both procurement and travel, ProCard is demonstrating its commitment to the Internet as a key strategic direction. Two features available immediately highlight this commitment. One allows immediate compatibility with Quicken ExpensAble, the world’s leading travel expense management software. The second expands client purchasing card capabilities to include automated cost allocation, a feature that promises to revolutionize the way organizations utilize Internet business applications.
Travelers can gain immediate benefits from today’s announcement by using PVS Net v.2 in conjunction with Quicken ExpensAble from On The Go Software to pre-populate their expense envelopes quickly and easily using PVS Net v.2’s unique offline data delivery option. Now, for the first time, organizations can support both their purchasing and travel technology needs through a single Internet portal.
ProCard clients will also get immediate benefit from PVS Net v.2’s new ability to automatically categorize transactions by expense type. Each expense type can then be associated with a unique client account code that enables the transaction to be merged electronically into the client’s general ledger system. Clients will have the ability to maintain their own general ledger values within PVS Net v.2.
“We believe that Internet based commercial card systems will be the ultimate technical solution for commercial card programs,” said D. Dale Browning, CEO of ProCard. “With the rollout of PVS Net v.2, we are beginning an evolutionary strategy to close the gap between our Internet offerings and the broad functionality available on our client server platform. However, we believe that there will continue to be a demand for various technical solutions which include client server and Intranet offerings in addition to Internet.”
ProCard also announced that within 60 days it will offer several new and exciting features for the first time ever on an Internet application. Custom Mappers can completely automate general ledger updating, saving organizations thousands of dollars per month in manual key entry tasks. Other new features coming to PVS Net include standardized statements, general ledger reports, and a new Query Library that allows users to store commonly used queries into a user library. PVS Net v.2 is also expanding its data archiving capabilities from 6 months to 13 months making annual reporting a realistic Internet feature for the first time.
“These new features will increase the value of PVS Net immensely,” said Cindy Meyer of Bank One. “We think more of our customers will seriously consider making PVS Net v.2 their technology choice for commercial card reporting.”
Currently, ProCard offers PVS Net to private and public sector clients through most of the largest commercial banks in the United States and Canada. These banks offer their customer a package consisting of ProCard’s commercial card management technology and services with a bank issued purchasing, travel or fleet card. ProCard supports Visa or MasterCard branded products or other proprietary card types.
ProCard, based in Golden, Colorado, provides commercial card management technology and services to financial institutions offering Visa or MasterCard branded products. These institutions then sub-license the technology to their clients. Nearly three quarters of North American banks actively participating in this market have installed ProCard technology at hundreds of their client sites.Details