These important commercial card program management tools must be modernized to keep pace with rising corporate expectations.
In the commercial credit card space, the use cases for spend management software have traditionally been related to travel and expense management, with corporate card programs as the product set to which the solutions integrate. Commercial card issuers have long considered spend management software solutions to be a core value add for corporate card programs, primarily to ease the burden on program administrators and the employees who travel on behalf of the company. As technology in the space continues to improve, an opportunity exists to capitalize on the more digital, cloud-native, and integrated experiences available through these spend management solutions.
In this Viewpoint we highlight key findings from a recent card spend management survey, which included 460 corporate and 53 issuer respondents across ten global markets. We focus on the perspective of corporations with some additional insight gained from issuing banks across these markets.