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BofA Merrill Launches Dashboard Analytics for Global Reporting and Account Management

New Module Will Help Companies Save on Travel Expenses and Improve Working Capital

Monday, July 22, 2013 9:30 am EDT

Dateline:

NEW YORK

Public Company Information:

NYSE:
BAC
"Dashboard Analytics promises executives the ability to quickly pinpoint negative trends or non-adherence to company policy. The invaluable intelligence – that has a variety of detailed data - can help companies save on travel expenses and ultimately improve their working capital"

Bank of America Merrill Lynch, a leader in commercial card and payables solutions within Global Transaction Services, is proud to announce the launch of Dashboard Analytics, a new module on the Global Reporting and Account Management system which is available to commercial card clients in more than 70 countries and in 21 languages. The new dashboard tool will help senior level executives and treasury departments make better educated decisions to improve their working capital, negotiate better terms with key suppliers and facilitate compliance with company travel policy.

Dashboard Analytics harnesses the power of big data to translate millions of transactions from across the globe into a sleek and actionable dashboard view, explained Kevin Phalen, head of Global Card and Comprehensive Payables in Global Transaction Services.

“After personnel costs, travel is typically the second-largest expense companies can control, and as a result, CEOs and CFOs are constantly in search of ways to reduce travel expenditure,” said Kevin Phalen. “Dashboard Analytics promises executives the ability to quickly pinpoint negative trends or non-adherence to company policy. The invaluable intelligence – that has a variety of detailed data - can help companies save on travel expenses and ultimately improve their working capital,” added Phalen.

The new module offers companies three dashboard views of data:

  • Card Activity, which tracks total spend or transaction count by time period or spend category, among other options.
  • Leader, which tracks total spend or transaction count by a company’s organizational structure.
  • Negative Change, which tracks significant decreases in spend or transaction count by a company’s organization structure.

Global Reporting and Account Management is a web-based reporting solution for expense and information management for Bank of America Merrill Lynch card programs. The tool delivers rich and comprehensive data for reporting, analysis and card management. Global Reporting and Account Management gives companies of all sizes the resources they need to control spending, optimize profits and help facilitate compliance with their own travel policies.

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

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Contact:

Reporters May Contact:
Louise Hennessy, Bank of America Merrill Lynch, 1.646.858.1403
louise.hennessy@bankofamerica.com