- BMO introduces Spend DynamicsTM, a total card transaction management platform to business clients for enhanced control, management and reporting of corporate card spend.
- BMO Spend Dynamics simplifies the complexity of managing corporate card spend with a single global platform.
- The platform will be available for BMO corporate card clients beginning in spring 2015.
BMO Financial Group is partnering with the Hogg Robinson Group company Spendvision to provide a new expense management platform for BMO corporate card clients, providing them with a sophisticated online tool to capture, manage and report on their corporate card spend. The product, branded as ‘BMO Spend DynamicsTM’ will be rolled out to clients in a multi-phased approach, beginning in spring 2015.
Steve Pedersen, Vice President, North American Corporate Card Products, BMO Financial Group, said, “We wanted to take things to the next level in card and expense management platforms. We needed a best-in-class technology that would give real value to our business clients, helping them save money and take control of their entire corporate card spend. With Spendvision, we found just that – a superior customer experience with a user-friendly interface, in a single, seamless global platform that allows clients to manage all types of corporate card spend comprehensively and within policy.”
Spend Dynamics will be available to BMO clients across geographic borders, industry segments and a wide variety of card products, to provide a strong competitive solution. It ensures that BMO will continue to meet their evolving business needs, in areas such as mobile and e-payments.
“We are delighted to cement our partnership with Spendvision and Hogg Robinson Group. Our organisations share many values, the strongest of which puts clients at the very centre of all that we do. With Spend Dynamics, our clients get complete, comprehensive insights required to manage and control spending better across their organisations through an easy-to-use, seamless global platform,” added Andrew Irvine, Head, North American Treasury and Payment Solutions, BMO Financial Group.
David Radcliffe, Chief Executive of Hogg Robinson Group said: “Today’s announcement broadens and deepens our existing Group relationship with BMO. Working together, we have been able to support the needs of the Government of Canada, as well as working closely on other services. We look forward to strengthening the relationship even further through Spendvision, as we continue to meet the needs of BMO into the future. This further demonstrates the significance and strength of Hogg Robinson Group’s investment in technology to deliver these leading solutions to our strategic partners.”
Kyle Ferguson, Chief Commercial Officer of Spendvision concluded: “Spend Dynamics empowers BMO clients to better manage their business spend and reduce costs. It will free up staff, helping drive real business improvements. Spendvision’s technology is used by over 124,000 organisations in over 130 countries and BMO and its clients can now benefit from that too.”