Barclaycard Commercial, part of Barclays global and retail banking division, has launched Total Spend Management, a new online platform to help large customers manage global business payments, regardless of value or volume.
Barclaycard said that the new system provides a various benefits including giving businesses that work across markets total visibility to ensure all payments across international borders and currencies are managed in more efficient way possible.
The bank claims that the Total Spend Management has been designed to reduce operational costs in the face of tough trading conditions.
According to Barclays, the Total Spend Management provides customers with: process efficiency; control and compliance; convenience; effective sourcing and working capital management.
Barclaycard Commercial managing director Dennis Bauer said that the organizations have been put under increasing pressure to cut costs. This new platform and total spend management approach opens up a whole new area of how to bring about increased efficiency for customers and cost savings.