BELLEVUE, Wash., March 9, 2017 /PRNewswire/ -- Center, a financial technology company tackling today's complex business spend challenges, has launched CenterCard™, a corporate card program designed to make business spending strategic, intelligent and connected. CenterCard combines hardware and software in a transformational way that connects budget priorities directly to the point of purchase, enabling a more planned, managed and real-time impact on spend. It includes cloud and mobile budgeting software with a digitally connected payment card to help businesses budget, track, adjust and communicate spending information across departments and cost centers, down to individual employees.
For typical small and medium sized businesses, discretionary spend – expenses that are non-payroll and non-occupancy – accounts for 20 to 30 percent of expenditures. Whether for travel and entertainment, materials, office supplies or subscriptions, discretionary spend is inherently difficult to manage, track and control accurately. Center's corporate card program allows businesses to connect their budgets to spending all the way to the point of purchase, enabling card spend to be planned, managed and controlled on a real-time basis, complete with a 360-degree view.
Comprised of top technology talent, Center's team brings together seasoned professionals from key verticals including consumer electronics, cloud computing, payments and expense management. With deep experience at industry-leading companies across the globe, Center's team has all necessary skills to bring together hardware and software in a transformational way that connects budgets to spend for discretionary expenses. In addition to the operational team, Center's founder and Executive Chairman Steve Singh contributes deep expertise in expense management and business travel, having founded Concur in 1993. The business travel and expense management solutions company was later acquired by SAP in 2014, where Singh serves on the Executive Board as the President of Business Networks and Applications.
"Until now, companies' budgets and their corporate card programs have been disconnected, which means they don't have real-time visibility into whether their spending is on track. Bringing together budget and spend creates the kind of intelligence that goes one step beyond visibility in that companies can use that information to take action and align their spending with the changing needs of their businesses," said Naveen Singh, Vice President of Product Management. "CenterCard is the natural evolution of the corporate card, joining hardware with software to deliver a digitally connected card that allows businesses to connect their budgets to spending at the point of purchase."
Center is partnering with leading US-based banks, including Washington Federal and the Central Bank of Kansas City, who want to offer corporate customers a next generation approach to business spend.
"Washington Federal has always focused on innovation that drives value for our customers. As we prepare to celebrate our centennial, we are excited to work with Center as a way to showcase our commitment to be a trusted and valued partner for our customers," said Brent Beardall, CEO-elect of Washington Federal. "Businesses are looking for tools to help them run their operations more efficiently and with greater controls. In collaboration with Center, we are excited to bring the benefits of a next generation corporate card program to our customers."
"In today's environment, it's imperative for businesses to be judicious in monitoring spend and sticking to their bottom line," said Trent Sorbe, President of CBKC's Central Payments division. "Helping small and medium-sized businesses with prudent and strategic financial management has been a cornerstone of Central Bank of Kansas City for the last 60 years. Center's superior product design and the issuing expertise within our Central Payments division creates a compelling solution for companies that require the agility to monitor and control spend in real-time through a mobile-first connected solution."
CenterCard will be available to US-based businesses in the summer of 2017. The Center team will be showcasing CenterCard live on the exhibition floor at Concur Fusion at booth 42, March 14-17 in Chicago. To set up a demo, please contact email@example.com. For more information on Center or to receive updates on CenterCard's availability, please visit http://www.centercard.com/.
Center ID Corp., doing business as Center, focuses on making business spending strategic, intelligent, and connected. Its CenterCard corporate card program helps businesses achieve more by dynamically linking budget to strategy and spending. Through the powerful combination of its mobile and cloud-based software and the digitally connected payment card, CenterCard will help businesses budget, track, adjust and communicate spending information across departments and cost centers, down to individual employees at the point of purchase. Designed by a team with deep expertise in payments, hardware, cloud computing, travel & expense management, and supply chain & operations, CenterCard builds intelligence into all aspects of the plan-manage-spend cycle to help everyone within the organization make more strategic decisions. Founded in 2014, Center has offices in Bellevue, Washington, and Kitchener, Ontario. For more information on Center, please visit www.centercard.com
© Center ID Corp.
Barokas Public Relations for Center
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/center-launches-from-stealth-and-business-spending-gets-a-lot-smarter-300420924.html