Designed to support Visa Commercial Solutions, Visa's Enhanced Data Services enable access to consolidated management data, along with transaction details, to more effectively manage and control your company spending.
Visa's Enhanced Data Services is a solution for:
- Organizations currently using or planning to use Visa Commercial Solutions to manage company spending.
- Corporate travel managers who want detailed transaction data to better manage, automate and report travel-related expenditures.
- Corporate procurement managers and other managers who want detailed transaction data to closely monitor purchasing expenditures.
Here’s how your organization can benefit from Visa's Enhanced Data Services:
Depending on your requirements, you can select from three levels of enhanced data for the level of information that best fits your needs:
- Level I - Provides standard financial information present in all card transactions. Namely, merchant name, location, amount of sale, and date of sale.
- Level II - Provides summary level tax information (sales/VAT) and customer reference (accounting) codes. Additional purchase information may be provided for certain industry sectors such as airlines, car rentals, and hotels.
- Level III - Provides the most comprehensive data available from Visa, with summary information and full line item detail.
Across these levels, your organization can benefits from:
- More effective vendor management
- Greater travel and procurement policy compliance
- Automated expense reporting
- Improved reporting and analysis
- Reduced administrative costs
- Cross-platform interoperability
More effective vendor management
You will have the ability to identify and validate costs, allowing you to more effectively manage your vendor and supplier relationships.
Greater travel and procurement policy compliance
Detailed purchase information and line item descriptions allow you to better audit employee travel and procurement policy compliance.
Automated expense reporting
Visa's Enhanced Data Services can be used in conjunction with your management software to automate employee expense reporting and reconciliation.
Improved reporting and analysis
Using Visa's reporting solutions; you can create reports with greater detail than ever before. Financial managers can analyze spending to improve overall efficiency of critical business processes, such as accounting, tax compliance, policy control, and cost/supplier management.
Reduced administrative costs
Visa's Enhanced Data Services lets you streamline the information gathering process, allowing you to increase efficiencies and save time and money.
The Visa Extensible Markup Language (XML) Invoice Specifications and Reporting Specifications provide a cross-industry, interoperable message format to enable processing of enhanced data across regions and industry sectors.
For more information, contact your financial institution today.