Barclaycard Spend Management (BSM) - powered by Fraedom. An integrated, single platform for business customers to manage all their corporate spend.
Barclaycard Spend Management enables Barclaycard customers to provide regular suppliers with a card that has a dynamically controlled credit limit. These cards have a zero limit which is increased automatically to the required amount only when a payment is due. This enables buyers to use credit to pay suppliers more promptly while simultaneously increasing their own payment terms from the standard 30 days up to an extra month.
Liability is also controlled, as the supplier can only draw funds from the card once an approved invoice has been uploaded and the funds made available. At other times the card limit is zero and so has no impact on the lines of credit required by the customer. The solution is unique in this respect, as no other UK provider can offer this level of flexibility.
- Complete visibility and control, not just of invoice payments but day-to-day business costs and expenses too.
- Allows Barclaycard’s customers to put higher value transactions on cards.
- Enables faster supplier payment without the need to draw funds immediately.
Payables enables Barclaycard to offer its customers Payment solutions that are designed specifically for their accounts payables spend, and will allow Barclaycard to support customers higher value spend and more strategic supplier relationships.