Citi Working Capital Analytics Enhancements Unlock Opportunities to Drive Card Spend for Accounts Payable, Program Optimization and Meetings and Events

Citi today announced enhancements to its innovative spend analytics tool, Citi Working Capital Analytics (CWCA). These enhancements will enable clients to easily identify and target opportunities to capture Accounts Payable spend leveraging Citi’s Virtual Cards Account (VCA) product, recipient of the 2011 PayStream’s Technology Excellence in Electronic Payments award, and Meeting & Event (M&E) spend to further optimize their Citi Commercial Card programs.

CWCA, an in-depth consultative service available only to Citi clients, analyzes an organization’s spend data to provide comprehensive visibility into their overall expenses. Clients receive actionable reporting and benchmarking data to help them better understand how and where they are spending. In addition, the CWCA tool enhances clients’ spend data leveraging third-party sources to maximize the value of these intuitive reports.

Virtual Card Accounts for Accounts Payable & Program Optimization

The recent CWCA enhancements provide additional insights enabling Citi clients to capture more spend using Citi Virtual Card Accounts (VCA), a global payment solution that allows companies to create single-use 16-digit plastic-less account numbers for vendor payments. Transaction-level controls, enhanced workflow tools and robust reconciliation data allow clients to further optimize their Purchasing Card programs.

With the recent enhancements, clients can tap into a new CWCA report to identify and target suppliers likely to convert to single-use virtual cards for Accounts Payable spend. CWCA draws on client-specific data such as transaction size, payment frequency, supplier industry and payment terms to help design strategies to maximize virtual card acceptance. The resulting benefits can include increased working capital and process efficiencies.

In addition, CWCA also offers reports identifying opportunities to expand Purchasing Card use to include higher-value payments and new spend categories. With these insights, clients can leverage the controls and security of VCA’s single-use accounts to capture this incremental spend without changing the controls, limits, or policies in place for existing “walking plastic” Purchasing Cards.

Meetings & Events Spend

With North American meeting expenses estimated at $274bn, using CWCA can provide organizations with increased visibility into this often hard-to-quantify spend to allow improved cost management. Leveraging industry-specific business rules targeted at key M&E categories, such as conference space, food & beverage, and audio & visual, Citi clients can quickly identify opportunities for supplier consolidation and conversion to a holistic M&E payment tool. CWCA also enables detailed visibility into spend by supplier and merchant category codes - down to the transactional level detail – and provides recommendations and ROI calculations customized to an organization’s goals. Clients can re-run the analysis periodically to measure the effectiveness of their efforts.

“We’re very excited by these new enhancements to Citi Working Capital Analytics because of the benefit they bring to our clients. These new offerings arm our clients with the information necessary to pinpoint potential improvements to their working capital management and M&E payment program,” commented Deirdre Ives, North America Commercial Card Head.

Citi Commercial Cards, a division of Global Transaction Services, with proprietary issuance capabilities in 101 countries including local-currency programs in 65 countries, has long been considered a pre-eminent Commercial Cards provider to large and multi-national organizations globally. Citi Commercial Cards’ products form the core of the expense management strategies for nearly 500 multinational corporations, making Citi a premier card issuer in terms of technology, innovation and volume. For more information regarding CWCA or any of Citi’s innovative global solutions, please visit www.citimanager.com.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services business supports over 65,000 clients. As of the third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com

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