JP Morgan has formed an alliance with IBM to help organizations streamline and bring better control over corporate travel and expense management.
By integrating IBM’s expense management tools and services with JP Morgan’s corporate card solution, companies can improve visibility into business travel costs, leverage supplier relationships, cut costs and time associated with expense report processing, and monitor and audit expense reports for compliance with travel policies.
IBM’s Global Expense Reporting Solutions (GERS), a division of IBM’s managed business process services (MBPS) unit, automates the entire process of managing business travel and expenses, including the submission, approval, reimbursement, and monitoring of employment-related expenses.
Leveraging relationships in the travel industry, GERS also offers flexibility to integrate travel reservation data from a range of booking tools. As business travel purchases are made, JP Morgan corporate card transaction data along with e-receipt data direct from travel suppliers will be uploaded into IBM’s service, and automatically populates the expense report under the appropriate expense categories, resulting in less time needed to prepare, file, audit and approve expense reports.
JP Morgan’s PaymentNet online visibility and reporting tool coupled with IBM’s auditing capabilities results in overall program compliance.
JP Morgan’s commercial card solutions include travel and entertainment, purchasing, fleet, prepaid debit and payroll cards, as well as single-use account technology and electronic payment/order-to-pay solutions.
Moreover, IBM and JP Morgan will market the integrated solution to existing clients and new prospects globally.
Eduardo Vergara, global commercial card executive at JP Morgan, said: “IBM is a global leader for web-based travel and expense management. By partnering on a more formal basis, JP Morgan continues to enhance the power and scope of its commercial card offerings while bringing greater value to its clients. IBM’s significant partnerships in the travel booking industry enable us to offer a powerful end-to-end solution.”
Ray Curatolo, director of global expense report solutions at IBM MBPS, said: “JP Morgan will make a strong partner for IBM as we continue to broaden the reach of our global expense reporting solution. By combining our industry knowledge, expertise and resources, clients will benefit from a comprehensive expense management solution that will streamline the entire process of managing this significant area of spend, and drive even more costs out of their businesses.”