The ongoing challenges to companiespresented by fragmented processes and systems are truly global in nature. The ability to capture and manage thenecessary level of controls give headaches to managers of these programsprimarily because their inefficient nature and lack of visibility to enforceguidelines.
In a recent announcement, happay, astart-up based in Bangalore, India has partnered with Visa and RBL Bank tolaunch happay Business Expense VISA Card. According to the announcement “the happaybusiness expense management solution consists of a VISA cardthat can be remote controlled through a mobile app and a web platform and allowsemployees to record and report expenses on the go.”
This estimates we have seen on a global basis foruncaptured program spend are well into the billions of dollars. Certainly the networks haveheard the challenges and this is another example of bringing new life to anissue that has existed for a long time. That a start-up like happay can bring learnings from other industries toa business payment challenge across all geographies is welcome and timely. As more solution integration comes to thespace, we hope to see companies regain more control in the future.
Overview by Rick Hall, Director, Commercial and Enterprise Payments for Mercator Advisory Group