Citi Provides Commercial Cards for Schering-Plough
Citi’s Global Transaction Services business has been selected as the preferred global commercial card provider for Schering-Plough, a global health care company. Schering-Plough wanted to streamline its corporate, purchasing and fleet expenses. It picked Citi because of its reporting capability, global platform and ability to integrate fully with Schering-Plough’s internal payment and expense management systems.
“Schering-Plough wanted a consistent set of programmes across all of the geographies and they wanted those programmes set up in such a way that obviously they are going to be able to grow and add countries as they grow,” said Paul Simpson, Citi’s global head of wholesale card, public sector and healthcare, in an interview with gtnews.
The roll out of the card programme is to around 40 countries and will take approximately six months.
Citi will cover all of Schering-Plough card programmes, for example fleet, purchasing and travel and entertainment (T&E) cards, which the company was looking to grow and aggregate the spend to get benefits and rebate dollars. ” Our clients are constantly looking to make their processes more efficient,” said Simpson. “In purchasing and procurement, a company can often have 50 or 60 large suppliers that it does business with regularly, and a smaller set of suppliers that it does business with on a more sporadic basis. By using a purchasing card for all of its transactions, interaction with suppliers becomes more streamlined, and allows for consistent tracking and real time information. As a result, clients can have a complete picture of their interaction with a particular supplier, which is very useful when companies need to streamline their supplier processes, and decide which suppliers are offering them the best value for their services.”
Simpson pointed out that although Schering-Plough was already running a T&E card programme, what the company wanted was a consistent high quality global approach. “T&E on a card is not anything new – what differentiates Citi is that we have a consistent approach from a T&E prospective in multiple markets and the ability to deal with the same aggregated relationship manager across all their needs,” said Simpson.