Jaggaer Partners With Mastercard on Newly Launched Mastercard Tracktm Platform

JAGGAER, the world’s largest independent spend management company, has joined Mastercard (NYSE: MA) in its launch of Mastercard Track^TM,  a new trade platform designed to streamline and enhance global commercial business interactions.

Tracktargets the global B2B market that still relies on manual processes, which generate an estimated $500 billion in annual administrative costs. The platform is powered by a range of Mastercard innovation and B2B assets, from account-to-account and card payment solutions to fraud management, data analytics and payment gateway services.

“JAGGAER has joined this initiative because of our complementary global footprint and our work at the forefront of digital conversion programs, through our industry leading Source to Pay solutions. We have helped companies in a host of industries including manufacturing, healthcare, retail, pharmaceutical, logistics, consumer packaged goods, as well as higher education, manage the types of spend management issues Mastercard is now addressing,” says Robert Bonavito, CEO of JAGGAER.

“Although the consumer payments market has evolved a lot in the last 20 years, B2B payments are still very manual,” says Claire Thompson, EVP Enterprise Partnerships, Mastercard. “In fact, nearly half of all global business transactions – $58 trillion [1]– are still done in paper. By consolidating information and digitizing work-flows, Mastercard Track will deliver easier onboarding of suppliers, more efficient risk management and greater payment visibility.”

Gartner, Inc. has named JAGGAER (Advantage) highest for ability to execute in its 2018 “Magic Quadrant for Strategic Sourcing Application Suites.”* Earlier this year JAGGAER was named as a Leader in Gartner, Inc’s 2018 “Magic Quadrant for Procure-to-Pay Suites.”**

[1] Sources 2016 – Oxford Economics, Euromonitor International, Kaiser Associates, McKinsey Payment Data, Mastercard Internal Analysis

*Gartner, “Magic Quadrant for Strategic Sourcing Suites”, Magnus Bergfors, Patrick Connaughton, Desere Edwards, William McNeill, Kaitlynn Sommers, 1 August 2018

**Gartner, “Magic Quadrant for Procure-to-Pay Suites”, authored by Desere Edwards, William McNeill, Magnus Bergfors, Patrick Connaughton, Kaitlynn Sommers, published 29 May 2018.

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