JAGGAER, the world’s largest independent spend management company,
has joined Mastercard (NYSE: MA) in its launch of Mastercard
Track™, a new trade platform designed to streamline and enhance
global commercial business interactions.
Track targets the global B2B market that still relies on manual
processes, which generate an estimated $500 billion in annual
administrative costs. The platform is powered by a range of
Mastercard innovation and B2B assets, from account-to-account and
card payment solutions to fraud management, data analytics and
payment gateway services.
“JAGGAER has joined this initiative because of our complementary
global footprint and our work at the forefront of digital
conversion programs, through our industry leading Source to Pay
solutions. We have helped companies in a host of industries
including manufacturing, healthcare, retail, pharmaceutical,
logistics, consumer packaged goods, as well as higher education,
manage the types of spend management issues Mastercard is now
addressing,” says Robert Bonavito, CEO of JAGGAER.
“Although the consumer payments market has evolved a lot in the
last 20 years, B2B payments are still very manual,” says Claire
Thompson, EVP Enterprise Partnerships, Mastercard. “In fact, nearly
half of all global business transactions – $58 trillion [1]– are
still done in paper. By consolidating information and digitizing
work-flows, Mastercard Track will deliver easier onboarding of
suppliers, more efficient risk management and greater payment
visibility.”
Gartner, Inc. has named JAGGAER (Advantage) highest for ability
to execute in its 2018 “Magic Quadrant for Strategic Sourcing
Application Suites.”* Earlier this year JAGGAER was named as a
Leader in Gartner, Inc’s 2018 “Magic Quadrant for Procure-to-Pay
Suites.”**
[1] Sources 2016 – Oxford Economics, Euromonitor
International, Kaiser Associates, McKinsey Payment Data, Mastercard
Internal Analysis
*Gartner, “Magic Quadrant for Strategic Sourcing Suites”, Magnus
Bergfors, Patrick Connaughton, Desere Edwards, William McNeill,
Kaitlynn Sommers, 1 August 2018
**Gartner, “Magic Quadrant for Procure-to-Pay Suites”, authored
by Desere Edwards, William McNeill, Magnus Bergfors, Patrick
Connaughton, Kaitlynn Sommers, published 29 May 2018.
Gartner Disclaimer
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in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner's research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About JAGGAER: Global source to pay spend management
solutions
JAGGAER is the world’s largest independent spend management
company, with 2,000 customers connected to a network of 3.7 million
suppliers in 70 countries, served by offices located in North
America, Latin America, throughout Europe, the United Kingdom,
Australia, Asia and the Middle East. JAGGAER offers complete
SaaS-based Source to Pay eProcurement solutions with advanced Spend
Analytics, Sourcing, Supplier Management, Contract Lifecycle
Management, Savings Tracking and intelligent workflow capabilities.
JAGGAER has pioneered spend solutions for over two decades and
continues to lead the innovation curve by listening to customers
and analyzing the market. Our solution suites are trusted by the
world’s largest manufacturing, education, health care, retail,
consumer package goods, logistics, construction, utilities
companies and public service organizations. Additionally, JAGGAER
holds 38 patents–more than any other spend management
company.
www.JAGGAER.com
To join the conversation, please visit our blog
at https://JAGGAER.com/blog/ or follow us on Twitter
@JaggaerPro
MEDIA CONTACT JAGGAER:
news@JAGGAER.com 919-659-2601
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews, join
the discussion on the Beyond the Transaction Blog and subscribe for
the latest news on the Engagement Bureau.
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