Malaysia’s CIMB Bank Berhad has launched Corporate Card Solutions, a new addition to its suite of cash management products to meet businesses’ increasing need for efficiency, transparency and control in their operational expenditure. The new card solutions include the Corporate Card and Purchasing Card which offer automated processes and real-time reporting to help streamline business-to-business spending, payments and collections. Additionally, a new virtual card solution addresses supply chain requirements by enabling a more seamless transactional flow between businesses and their suppliers and customers. Coupled with CIMB’s proprietary online real-time data analytics tools, these solutions give organisations a better overview of their operational expenditure to facilitate planning and control. The CIMB Corporate Card enables organisations to closely manage employee spending by allowing real-time overview of employees’ travel and entertainment expenditure. The CIMB Purchasing Card automates the company’s procurement process by capturing card transactions in real time, which facilitates account reconciliation. CIMB group CEO Tengku Dato’ Sri Zafrul Aziz said the solutions, conceptualised in partnership with MasterCard, offer unique savings features by optimising cashflows and working capital. It is the bank’s aspiration to help organisations to significantly improve their operational and cost efficiency by automating their transactional flows, he said.
