MTR Corporation - Citi Bank

MTR Corporation - Citi Bank

Institutional Clients Group MTR Corporation Purchasing cards to streamline procurement process Case Study The Client Hong Kong-based railway operat...

58KB Sizes 0 Downloads 0 Views

Recommend Documents

MTR Corporation
MTR Corporation ... MTR was listed in the Stock Exchange of Hong Kong (2000) ... Profit sharing with MTR by percentage o

MTR Corporation
wit/A3. MTR Corporation. Direct Line : (852) 2993 2107. Fax : (852) 2993 3379. 2 February 2007. Economic Development Bra

MTR Corporation
In MTR, we have prided ourselves in helping Hong Kong grow into a world class city. Along the way, we have also expanded

MTR Corporation
MTR Corporation. Our Ref: MTRCUKTDlPrD Direct Tel No;. Direct Fax No.: 22 August 2006. Mr Anthony Kwan. Assistant Direct

bank connectivity - Citi Bank
In today's digital world, it's hard to remember a time when businesses relied on paper statements from ... computers to

2014 Citi Global Citizenship Report - Citi Bank
business activities and community efforts. ... they know about their respective markets and community ..... ed the Natio

Citi OpenInvestorSΜ Hedge Fund Services - Citi Bank
We put our clients' objectives first, approaching the investment services business from an asset manager's perspective.

MTR Corporation Limited MTR Corporation (CI) Limited - RNS Submit
Nov 3, 2009 - On 22nd December 1993, Mass Transit Railway Corporation (''MTRC'') entered into a US$1,000,000,000 Debt Is

marketmonitor - Citi Bank
Amrep Corp: AXR. Lululemon: LULU. Sectors in demand included: autos, subprime lenders and Exchange-Traded. Funds (ETFs).

ICG Pres - Citi Bank
The new trading system "X-stream" is one of NASDAQ OMX's products which have been operated in more than 15 countries wor

Institutional Clients Group

MTR Corporation

Purchasing cards to streamline procurement process Case Study The Client

Hong Kong-based railway operator MTR Corporation is regarded as one of the world’s leading railway operators, with operations in Hong Kong, Mainland China, UK, Australia and Sweden. In addition to railway operations, MTR Corporation is involved in property and railway-related businesses such as property development, leasing and management, advertising, and telecommunication services, as well as international consultancy services with coverage across Asia, Australia, the Middle East and Europe. Citi has been MTR Corporation’s banking partner for more than 15 years.

The Challenge

MTR Corporation implemented a purchasing card solution more than a decade ago to streamline the process of handling low-value purchases. To suit the company’s accounting requirements, MTR Corporation has also developed an in-house “Purchasing Card Cost Allocation System.” In 2010, MTR Corporation invited tenders for its new purchasing card contract and was looking for an integrated solution which could provide the following functions: • Issuance of purchasing cards for cardholders to handle low-value purchases. • Maintenance of the cardholders’ profiles. • Merchant acquiring services to increase the number of suppliers who would accept purchasing cards. • Provision of a web-based system for statements verification; transaction records enquiries; cost allocation and statement authorization. • Provision of management reports.

The Solution

Through a competitive tender and after reviewing the range of purchasing card solutions that were available in the market, MTR Corporation made the decision to implement Citi’s integrated purchasing card solution, which includes the following key components: • MasterCard-branded Purchasing Card • Citi’s merchant acquiring services • Citi/MasterCard Expense Management System • CitiManager®, Citi’s proprietary custom reporting tool The implementation project was completed in stages including customization to address specific data collection and reporting requirements for MTR Corporation.

Institutional Clients Group

The Result

The new purchasing card solution has empowered MTR Corporation with greater control and visibility over the low-value purchases undertaken by cardholders without compromising operational efficiency. Moreover, as the solution also provides an expense management function, MTR Corporation no longer needs to maintain its own Purchasing Card Cost Allocation System. Based on the success of the program, Citi looks forward to expanding its card services to MTR Corporation to cover travel and entertainment (T&E) expenses management for employees. “We have been using purchasing cards for a number of years to manage low-value purchases. With the integrated purchasing card solution provided by Citi, we look forward to further enhancement in streamlining and increasing the visibility of the transaction processes and expense management and reporting.” — Daniel Yu, Purchasing Manager, Property & Corporate Services

Institutional Clients Group © 2014 Citibank, N.A. All rights reserved. Citi and Arc Design and CitiManager are registered service marks of Citigroup Inc. 1176742 02/14