Visa and Oracle join forces

Visa and Oracle have partnered to deliver enhanced transaction and payment integration.

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By  Sarah Gain Published  October 26, 2005

Visa International and Oracle have announced a new partnership designed to streamline the expense management and reporting process by integrating Visa commercial payment data with the Oracle E-Business Suite. The resulting transaction and payment combination will provide joint commercial customers with improved operational efficiency, heightened financial control and increased cash flow visibility, the two companies say. Through the integration of the Oracle E-Business Suite and the Visa Commercial Format (VCF), a standard data set containing enhanced spending details from all Visa commercial payment cards, corporations and their employees will be able to receive unprecedented levels of information to better utilise spending data, significantly improve processes and lower operational costs. Part of the Oracle E-Business Suite, Oracle Internet Expenses is a travel and entertainment (T&E) solution that automates travel spend management. With the integration of Visa transaction data into Oracle Internet Expenses, employees will be able to enter and submit expense reports more quickly and easily through pre-population of hotel folio data and automatic assignment of expense types, ensuring timely expense report submissions. The resulting solution improves T&E information and accounting accuracy, reduces employee data entry, and provides greater visibility into T&E spend. “The combination of our commercial payment solutions with the Oracle E-Business Suite will help deliver measurable cost savings, providing a significant opportunity for companies to increase their bottom line,” says Aliza Knox, senior vice president, Visa Commercial, Visa International. The Visa and Oracle partnership will provide a variety of potential benefits to commercial customers, including the ability to pre-populate expense reports with VCF formatted commercial payment transactions; map Visa commercial payment types for automatic expense type defaulting, and permit automatic hotel folio itemisation based on Visa Commercial payment feed. Visa and Oracle will collaborate to identify other potential integration points between Visa Commercial payment products and services and the e-business applications. The Oracle E-Business Suite will include interfaces that enable employees of Oracle licensees to import VCF data feeds generated by Visa commercial payment products into the E-Business Suite. “Travel and entertainment is an important aspect of organisations’ expense management solutions,” comments Ayman Abouseif, managing director of Oracle, Gulf States. “The Middle East has developed into an important hub for global trading activities and an increasing number of companies are finding that their workforce needs to be mobile.”

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