CitiDirect® Card Management System Significantly Enhanced for Commercial Card Clients
System Is More Comprehensive, Easier to Navigate
October 17, 2003, New York - Global Transaction Services, a unit of Citigroup, the premier global financial services company (NYSE:C), today introduced an expanded version of its widely-used CitiDirect® Card Management System, Citigroup’s premier Web-based program for commercial cards account administration. The enhanced system provides users with:
- improved navigation
- new and improved search capabilities
- ability to reallocate transactions to other financial systems within a client’s organization
- more comprehensive information regarding the status of disputes
- ability to request copies of receipts online
- enhanced tax support for Canada.
The improved system increases processing efficiency by reducing the time required to track, reconcile and allocate employee expenditures as well as lowering the chances for errors. It allows clients to maintain tighter control over transactions, accelerate cash flow and maximize savings.
Widely used by corporate and government agencies in North America,
the CitiDirect® Card Management System provides clients
with the tools needed to manage their card programs at the account
level, and can be customized to fit the client’s financial
system interfaces and processes for a complete end-to-end solution.
The system allows online access to review, reconcile, split and
reallocate transactions; create and modify accounts; set up or change
controls for individual cardholders and review and approve cardholder
statements. Last month, more than 40,000 different users at close
to 200 different companies logged onto the CitiDirect Card Management
System and more than 3.5 million transactions were imported into
the system.
“In today’s challenging economic environment, it is
more important than ever for companies to efficiently manage their
procurement and travel expenses,” said Gary Schneider, Global
Business Manager for Citibank® Commercial Cards.
“The revamped CitiDirect® Card Management System
is more comprehensive and streamlined, the Web site is even easier
to navigate now, and includes an online tutorial so cardholders
can learn to use it more easily. And for some of our clients, it
has the added benefit of tracking certain tax processes,”
he concluded.
This is the second enhancement in the expansion of Citibank® Commercial Cards program management and reporting tools, following the announcement of the Global Data Repository in April. Citibank Commercial Cards offers card programs in 29 countries used by over one million corporate cardholders.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, insurance, securities
brokerage, and asset management. Major brand names under Citigroup's
trademark red umbrella include Citibank, CitiFinancial, Primerica,
Smith Barney, Banamex, and Travelers Life and Annuity. Additional
information may be found at: www.citigroup.com.
About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading provider of
integrated cash management, trade and securities services for corporations,
financial institutions, intermediaries and governments around the
world. With over $ 92 billion in average liability balances, more
than $ 5 trillion in assets under custody and the largest proprietary
branch network, Citigroup's award-winning operating systems and
Internet-based delivery channels enable clients to manage and monitor
working capital and investments more efficiently, streamline transaction
processing cycles, and re-engineer receivables and payment processes.
Citigroup® Global Transaction Services provides clients with access
to Citigroup's full range of capabilities and solutions along with
an on-the-ground presence and in-depth knowledge of more than 90
local markets. For additional information, see www.transactionservices.citigroup.com.
Citigroup Global Transaction Services is part of Citigroup's global
corporate and investment bank, which provides complete financial
solutions to corporations, governments and institutional investors
in more than 100 countries. Award-winning businesses include corporate
and investment banking, sales and trading, transaction services,
commercial finance and insurance products. Additional information
can be found at: www.citigroupgcib.com.
