New Solution Helps Companies Expand Use of Commercial Credit Cards Throughout Their Organizations
AUSTIN, Texas, January 30, 2002 -- Works, a leading provider of spend management applications, today announced the general availability of the Works Procisa™ application with Active Card Control™ technology. This solution enables companies to use commercial credit cards, such as purchasing cards and corporate cards, to manage a greater amount of their overall spending without sacrificing control. This is made possible by combining the Procisa application's pre-spending approval capabilities with the efficient payment processes offered by commercial credit cards, which together help companies better manage spending and realize savings from greater back-office efficiencies and streamlined payment processes.
The Procisa application with Active Card Control technology provides companies with the flexibility to distribute cards with different levels of spending authority and control to individuals within their organizations. This includes cards that can be used to make purchases without advanced approval, cards that require pre-approval for every purchase and any combination in between. If a cardholder needs to make a purchase above and beyond his spending authority, he submits a request through the Procisa application and it's automatically compared to company spending policies. The request is then approved, denied or automatically sent on to designated personnel for online review and approval. Once approved, the spending settings on the individual's credit card are instantly adjusted to allow the purchase.
The Teacher's Credit Union (TCU), a billion dollar institution and the largest credit union in Indiana, recently selected the Procisa application with Active Card Control technology to more effectively manage operational spending. The solution will make it possible for TCU to use Visa commercial credit cards to pay for a number of high dollar expenses, including technology purchases and spending associated with construction of seven new credit union branches. "The capabilities of the Procisa application provide the controls we need to use our credit cards to purchase things we never would have paid for with cards before, such as expensive capital items that require pre-purchase approval," said Amy Sink, senior vice president and chief financial officer, Teacher's Credit Union. "This control, combined with the streamlined payment process and reporting available from a commercial credit card program, will help us reduce our overall expenses and operate more efficiently."
AUSTIN, Texas, January 30, 2002 -- Works, a leading provider of spend management applications, today announced the general availability of the Works Procisa™ application with Active Card Control™ technology. This solution enables companies to use commercial credit cards, such as purchasing cards and corporate cards, to manage a greater amount of their overall spending without sacrificing control. This is made possible by combining the Procisa application's pre-spending approval capabilities with the efficient payment processes offered by commercial credit cards, which together help companies better manage spending and realize savings from greater back-office efficiencies and streamlined payment processes.
The Procisa application with Active Card Control technology provides companies with the flexibility to distribute cards with different levels of spending authority and control to individuals within their organizations. This includes cards that can be used to make purchases without advanced approval, cards that require pre-approval for every purchase and any combination in between. If a cardholder needs to make a purchase above and beyond his spending authority, he submits a request through the Procisa application and it's automatically compared to company spending policies. The request is then approved, denied or automatically sent on to designated personnel for online review and approval. Once approved, the spending settings on the individual's credit card are instantly adjusted to allow the purchase.
The Teacher's Credit Union (TCU), a billion dollar institution and the largest credit union in Indiana, recently selected the Procisa application with Active Card Control technology to more effectively manage operational spending. The solution will make it possible for TCU to use Visa commercial credit cards to pay for a number of high dollar expenses, including technology purchases and spending associated with construction of seven new credit union branches. "The capabilities of the Procisa application provide the controls we need to use our credit cards to purchase things we never would have paid for with cards before, such as expensive capital items that require pre-purchase approval," said Amy Sink, senior vice president and chief financial officer, Teacher's Credit Union. "This control, combined with the streamlined payment process and reporting available from a commercial credit card program, will help us reduce our overall expenses and operate more efficiently."
In addition to its pre-spending approval capabilities, the Procisa application
also provides:
- Streamlined accounting processes: allow companies to automate allocation of purchases, split individual transactions between multiple account codes, and add additional line item purchase detail either before or after the purchase is made, leading to increased efficiency and accuracy in the back-office.
- Real-time card administration: gives companies the ability to manage cards one at a time or in groups; request, activate and suspend cards; and manage card spending settings online. Changes take effect immediately.
- Visibility into spending: allows company managers to view up-to-date spending activity for their area of responsibility and use the data for detailed spending analysis.
"The Works Procisa application multiplies the possibilities of what a company
can do with its commercial card program," said Bo Holland, president and
CEO of Works. "The upfront controls of the application combined with the
payment efficiencies of the card program make it the ideal solution for managing
a high percentage of a company's spending."
The Procisa application with Active Card Control technology is currently
available through PNC Bank and will soon be available through additional banks.
For more information, contact Works at 888-967-5726 or visit http://www.works.com.
About Works (www.works.com)
Headquartered in Austin, Texas, Works is a leading provider of spend management applications. The company's flagship product, the Works Procisa™ application, allows organizations to gain up-front control over company spending and reduce costs.
Headquartered in Austin, Texas, Works is a leading provider of spend management applications. The company's flagship product, the Works Procisa™ application, allows organizations to gain up-front control over company spending and reduce costs.