The partnership between Intesa Sanpaolo and Mastercard has led to the creation of Smart Control
IMI Corporate & Investment Banking Division of Intesa Sanpaolo and Master Card present Smart Control, the innovative solution for corporate payments based on a digital Mastercard virtual credit card generation platform, through which a company can pay its suppliers and take advantage of the benefits related to credit card transactions.
The purpose of Smart Control is to optimize payments and simplify accounting, financial and reconciliation processes for B2B payments and it allows for greater efficiency on three fronts:
- the process, as the system provides differentiated approval levels including on the basis of the amount requested, while adhering to company policies and procedures
- data management, as several additional fields can be added for each virtual card generated and integration with company ERPs is possible, which improves times and reduces the cost associated with invoicing and payment reconciliation
- capital management, because by increasing the average days payable outstanding (DPO), it serves as an additional leverage for achieving working capital optimisation objectives
Stefano Favale, Head of the Global Transaction Banking Department, Intesa Sanpaolo's IMI Corporate & Investment Banking Division, commented: “The management of supply chains is a fundamental asset and a development opportunity for companies operating in a constantly evolving market: it is therefore essential to optimise working capital throughout the supplier chain and automate procurement processes. Always attentive to the needs of companies, Intesa Sanpaolo makes all this possible for the domestic market through our collaboration with Mastercard, facilitating the activities of CFOs, Treasurers and Purchasing Directors with Smart Control".
Read the press release.
