ADVERTISEMENT FEATURE
C
orporate Treasurer and Head of HOERBIGER´s finance company INTERHOERBIGER Finanz AG, Alexander
Kram, explains the plan and the expected benefits. HOERBIGER is active throughout
the world as a leading player in the fields of compression technology, automation technology and drive technology. In 2012, our 6,704 employees achieved sales of 1.057 billion euros. Over the years, we have centralised many of our treasury functions – cash management, FX and interest management, financing as well as financial services. But until now, cards were considered a local matter. We have various card solutions within the 54 countries we operate in. At least three major credit card brands are presently represented within the Group. Their use is not at all standardised, no global card usage policy is currently in place, and we have limited visibility and reporting options on our card spending. Since HOERBIGER is a fast growing Group, multiple solutions are not the most efficient option. We are now moving to a single,
Using only one system will give us full transparency of our card spending worldwide
a card. The program goes beyond travel and entertainment (T&E) use: it includes lodge cards and purchase cards as well. We expanded the scope of the project while working with Helen Mason, EMEA commercial cards director at Bank of America Merrill Lynch, and her team, to explore all the areas where cards may or may not be relevant to our needs. We will receive better information. Using only one system will give us full transparency of our card spending worldwide. We will have greater control by being able to see how the cards are used. In addition, this will give us the opportunity to analyse our expenditures in a way we never could before and to see where our purchasing power lies. For example, in the future we will have full visibility of the total amount we spend with a single hotel, car rental or other business partner. This will help to create transparency and allow us to negotiate even better corporate rates due to
more detailed information. We expect this new process to result in additional savings for HOERBIGER. We are reducing costs and
global Bank of America Merrill Lynch Corporate Card solution that uses MasterCard. HOERBIGER´s treasury department conducted the RFP and has taken responsibility for the project. We submitted our recommendation to the Executive Board for ratification. Implementation in all 54 countries where we operate will be completed some time in 2014. Under our new Global Card Policy,
every associate who incurs regular business expenses will be issued
generating income. Multiple card systems around the world are expensive. Harmonising the process and switching to a single program will obviously give us considerable efficiencies. Additionally, there is also a rebate program, whereby the card generates a small amount of income. This will also help to encourage compliance with the system, persuading people to use the Corporate Card rather than another means of payment because it generates a small payback for the HOERBIGER Group.
■ To receive the full case study, please contact Helen Mason at Bank of America Merrill Lynch at:
helen.mason@
baml.com.
In association with
2013 Buying Business Travel • 19 Corporate Cards 9
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