BMO Announces Spend & Payment Solutions Alliance with IBM
- Alliance integrates rich travel spend data from BMO and Diners Club cards into IBM's Global Expense Reporting Solution to create a seamless automated workflow across the enterprise
- Combines the benefits of worldwide MasterCard acceptance, best-in-class rewards programs and automated expense management deployed in over 85 countries
- BMO and Diners Club card clients automatically qualify for preferred pricing on IBM Global Expense Reporting Solution
The partnership benefits organizations and their employees: Rich expense data from BMO and Diners Club corporate cards – both of which run on the MasterCard network – feeds automatically into IBM's Global Expense Reporting Solution (IBM GERS), reducing employee's time and effort to submit expense reports, and giving corporate travel managers improved visibility and control into travel and entertainment (T&E) spend.
Additionally, organizations that utilize BMO or Diners Club corporate cards automatically qualify for preferred pricing on GERS. The preferred pricing is an ongoing benefit, and will stay in place as long as organizations continue to utilize BMO-issued corporate cards and the IBM GERS solution.
Bolstered by its acquisition of the Diners Club North America franchise last year, BMO offers a comprehensive portfolio of corporate card solutions with the global acceptance of the MasterCard network. The partnership with IBM can give multinational organizations new flexibility to integrate travel spend data with an expense management solution deployed in more than 85 countries, in 35 languages and that supports country-specific tax rules and reclamation requirements.
"Our approach has always been to listen to customers and tailor solutions to meet their immediate and long-term needs. That means freedom to choose from an array of best-in-class solutions," said Terry Wellesley, Executive Managing Director & Group Head of BMO Spend & Payment Solutions. "With our card programs married to IBM's expense management solution; we are ideally positioned to provide global business travel solutions."
With IBM GERS, employees can easily track purchases made on their BMO or Diners Club corporate card, and access specific and categorical breakdowns of where the card was used and what was purchased. Employees quickly discern personal or business charges, and approval managers get maximum visibility into business travel spend – with airlines, restaurants, taxis and even hotel folio detail – essential insight to improve controls, shape policy and drive better terms with preferred vendors.
"This partnership gives organizations tightly integrated tools to control T&E costs and encourage compliance with spend policies, empowering our clients to drive even more costs out of their business," said Ray Curatolo, director for Global Expense Report Solutions, IBM MBPS. "We're extremely excited to align these two original world-class brands in business travel as we strive to deliver the highest levels of success to our clients."
Developed and used internally by IBM for decades, GERS is based on advanced automation and analytics to help businesses of every size improve process efficiency. With web-based accessibility and integrated receipt imaging and scanning, GERS simplifies the way employees report travel and other reimbursable expenses.
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About BMO Spend & Payment Solutions | A division of BMO Financial Group, BMO Spend & Payment Solutions is a leading commercial card, spend and payment solutions provider in North America. BMO Spend & Payment Solutions' products are widely used by corporations, non-profit and government-sector organizations to manage, control and gain better visibility into their commercial spending and payments.
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