MasterCard is to embed its technology in Oracle's E-Business Suite 11i to enable MasterCard customers to rapidly format transactional data and push it through their ERP systems.
The two companies announced widespread data integration between MasterCard's own Oracle-based global data repository and users of Oracle's E-Business Suite applications. The technology will be embedded directly into the E-Business Suite and needs only to be activated at no extra cost to the customer.
Steve Miranda, vice president of Financials Development at Oracle, said "We are simplifying the cycle for our customers by providing a step-by-step map that clearly shows them how to optimise their existing MasterCard and Oracle programs to get the most out of the transaction data residing in their systems".
The result will be a situation whereby, for example, expense-related information can automatically be formatted and distributed through the relevant Oracle applications, such as the payment module, eliminating the need for manual paper-based processes.
Phil Philliou, vice president, e-Business and Emerging Technologies, MasterCard International said "With Oracle, we have been able to take the greatest strengths of each partner to create turnkey data integration programs that provide superior data management through enhanced expense analysis, reporting and processing capabilities. Today's financial executives need this level of detail to achieve compliance, accurately forecast and effectively manage the bottom line".
The deal is nonexclusive. For the past two years, MasterCard has offered a similar option using SAP applications and will shortly announce a deal with PeopleSoft.
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