Citi Launches Project Card
Citi’s Commercial Cards has launched Project Card, a payment solution that automatically links project information such as budget, project duration, and project name, to a card for improved overall project and budget management. This solution was developed in direct response to clients’ needs to manage expenses specific to efforts, such as consulting engagements, new product development and recruiting. It was rolled out in North America this May, is expected to be available in countries throughout Europe, the Middle East, and Africa later this year with a launch in Asia during 2012.
The card allows commercial card clients to reduce delays from manual invoice and purchase order processing by leveraging the card’s built-in spend controls. When initiating a project, clients simply assign a project name and an overall budget to help automate the project management process.
“The Citi Project Card lets project managers easily keep track of a project’s status while at the same time improving budget management and reporting,” said Paul Horn, global director of Citi Commercial Cards.