Bank of America Merrill Lynch launched Monday an analytics dashboard aimed at helping treasurers handle their cash.
The tool, which tracks spending and company-wide transactions, is meant to aid executives in negotiating better terms with suppliers. Dashboard Analytics streamlines what could be millions of transactions, globally, into a single view, says Kevin Phalen, BofA Merrill's head of global card and comprehensive payables in global transaction services.
The new module works within BofA Merrill's Global Reporting and Account Management system. That technology is available to commercial card clients in more than 70 countries and in 21 different languages.
"Dashboard Analytics promises executives the ability to quickly pinpoint negative trends or non-adherence to company policy," said Phalen in a press release. "The invaluable intelligence which has a variety of detailed data can help companies save on travel expenses and ultimately improve their working capital," added Phalen.