Traditional paper statements still require time consuming manual reconciliation. A practical alternative to this is using an online Expense Management System (EMS). Westpac offers its customers, expense management solutions through Visa IntelliLink and Mastercard smartdata.gen2.
Visa IntelliLink and Mastercard Smartdata.gen2 are easy to use EMSs ensuring you get the most from your Corporate Card program. Accessible online, they accommodate multiple concurrent users with the ability to segregate user profiles by providing cardholder or manager access.
Using a comprehensive EMS allows organisations to better manage their card program, providing full visibility of cardholder spend and adherence to company policy. In addition, inbuilt approval hierarchy means management has the ability to review cardholder spend at any time.
Detailed reporting is a key feature of both Visa IntelliLink and Mastercard smartdata.gen2. The expense management solutions provided and supported by Westpac allow company administrators to generate comprehensive reports making it easier to identify rogue spending, should it occur.
Westpac also offers Visa Compliance Auditor, a reporting tool that allows organisations to score and flag higher risk transactions for further scrutiny. Transactions that are deemed to be of higher risk due to, for instance, the merchant category, time of transaction, or amount can automatically be highlighted for further investigation.
Through the use of Westpac supported Visa IntelliLink or Mastercard Smart Data EMS, you can feel confident that you have full visibility of cardholder spend. In addition, Westpac can facilitate provision of standard data formats used by both Visa (VCF4) and Mastercard (CDF3), enabling integration with your internal accounting and general ledger systems, providing greater automation and reconciliation accuracy.