New Module Will Help Companies Save on Travel Expenses and Improve Working Capital
Bank of America Merrill Lynch, a leader in commercial card and payables solutions within Global Transaction Services, is proud to announce the launch of Dashboard Analytics, a new module on the Global Reporting and Account Management system which is available to commercial card clients in more than 70 countries and in 21 languages. The new dashboard tool will help senior level executives and treasury departments make better educated decisions to improve their working capital, negotiate better terms with key suppliers and facilitate compliance with company travel policy.
Dashboard Analytics harnesses the power of big data to translate millions of transactions from across the globe into a sleek and actionable dashboard view, explained Kevin Phalen, head of Global Card and Comprehensive Payables in Global Transaction Services.
“After personnel costs, travel is typically the second-largest expense companies can control, and as a result, CEOs and CFOs are constantly in search of ways to reduce travel expenditure,” said Kevin Phalen. “Dashboard Analytics promises executives the ability to quickly pinpoint negative trends or non-adherence to company policy. The invaluable intelligence – that has a variety of detailed data - can help companies save on travel expenses and ultimately improve their working capital,” added Phalen.
The new module offers companies three dashboard views of data:
- Card Activity, which tracks total spend or transaction count by time period or spend category, among other options.
- Leader, which tracks total spend or transaction count by a company’s organizational structure.
- Negative Change, which tracks significant decreases in spend or transaction count by a company’s organization structure.
Global Reporting and Account Management is a web-based reporting solution for expense and information management for Bank of America Merrill Lynch card programs. The tool delivers rich and comprehensive data for reporting, analysis and card management. Global Reporting and Account Management gives companies of all sizes the resources they need to control spending, optimize profits and help facilitate compliance with their own travel policies.