How IT & Procurement Teams Should Evaluate Spend Management Products
In today's fast-paced business world, managing expenses can be a daunting task for IT and procurement teams.
To help you out, we compiled a list of features and functionalities that you should consider when picking your spend management platform.
Spoiler alert, Pluto has them all.
PCI DSS Level 1 Provider
One of the essential features that should be given high importance is the product's PCI DSS Level 1 compliance.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of guidelines and security requirements designed to safeguard payment card data.
The standard was developed by major credit card companies, including Visa, Mastercard, American Express, Discover, and JCB, to ensure that all companies that handle payment card data maintain a secure environment. PCI DSS compliance helps to prevent fraud and data breaches, protecting both the company and its customers.
PCI DSS Level 1 is the highest level of certification a company can achieve for PCI compliance.
It requires companies to undergo a rigorous independent audit to ensure compliance with all 12 of the PCI DSS requirements, including network security, access control, and vulnerability management.
Achieving PCI DSS Level 1 certification demonstrates that a company has a comprehensive and effective security program in place to protect payment card data.
When evaluating corporate spend management products, IT and procurement teams should look for products that have achieved PCI DSS Level 1 compliance to ensure that the product meets the highest security standards.
This will help to ensure that the company's payment card data is adequately protected and that the company is meeting its compliance obligations. By prioritizing PCI DSS Level 1 compliance, IT and procurement teams can help to safeguard their company's reputation and financial well-being.
Being PCI DSS Level 1 compliant is essential for any organization that handles corporate card information, as it provides a high level of security and assurance that the organization is taking all necessary measures to protect its customers’ data.
Pluto Card is proud to be PCI DSS Level 1 compliant. This means that our customers can trust that we have taken all necessary measures to secure their data and protect it from unauthorized access.
We also partner with vendors who are held to the highest security standards, such as PCI or SOC2 compliance.
Passwordless login is a secure and convenient way for users to access their accounts without the need for a password. It is an effective way to protect against unwanted access to your account, as passwords can be easily compromised or stolen. By tying your Pluto access with a company email account provided by your organization ensures that when your employees lose access to their company email address they also lose access to Pluto.
At Pluto Card, we understand the importance of passwordless login, and we offer this feature to our customers. With our passwordless login feature, our customers can access their accounts quickly and securely, without the need for a password.
Activity Log And Audit Trails
Activity logs and audit trails are crucial for ensuring strict auditing everywhere. An activity log records all user activity within an application or system, while an audit trail provides a record of all changes made to data within the system.
Pluto Card offers a 7-year audit log, which means that our customers can track critical changes made to their data over a seven-year period.
Employees that are using our platform have only as much access as they need, and we have infrastructure redundancy built into Pluto, which means that all compute and data is run in multiple geographies.
Business continuity is paramount at Pluto - to this end, we ensure data redundancy with redundant backups in multiple geographies as well.
In addition, at Pluto, your application data is always encrypted in transit, and at rest.
Continuous Security Scans
Pluto also provides a continuous security scan, which tackles multiple dimensions, including code or dependency vulnerabilities, infrastructure, and public endpoint scans.
Our customers can be assured that we take security very seriously and are always on the lookout for any potential security threats.
In the event of a security incident, we have an immediate incident response plan in place and will notify impacted customers without undue delay of any unauthorized disclosure of customer data.
24x7 Customer Support and Dedicated Account Manager
In addition to these security features, Pluto Card also provides 24x7 customer support.
We understand that our customers need support around the clock, and we are always available to help with any questions or issues that may arise.
Data Infrastructure, Redundancy and E2E Encryption
We also provide infrastructure and data redundancy, which means that our customers’ data is highly available and secure, even in the event of a system failure or outage.
Data is always encrypted in transit, which means that it is always protected during transmission between servers or devices.
Finally, another crucial feature that IT and procurement teams should consider when evaluating corporate spend management products is data residency and retention policies.
Pluto Card offers an audit trail for changes to customer data, so we can track who did what.
Additionally, we have a data residency promise of 7 years, which means that we retain customer data for that period of time.
This can be important for compliance with regulatory requirements, such as tax or financial reporting.
In conclusion, when evaluating corporate spend management products for your enterprise, it’s essential to consider the security features that the product offers.
PCI DSS Level 1 Compliance, passwordless login, activity logs and audit trails, and data residency and retention policies are all critical features that can help ensure the security and integrity of your organization’s financial data.
Pluto Card offers all of these features, along with 24x7 customer support and infrastructure and data redundancy, making it an excellent choice for organizations looking for a secure and reliable corporate spend management solution.
For more information visit plutocard.io and book a demo.
At Pluto Card, our mission is to assist businesses of all scales make well-informed choices. To uphold our standards, we follow editorial guidelines to guarantee that our content consistently aligns with our high-quality benchmarks.
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The product and services mentioned on this webpage belong to Pluto Technologies Ltd (Pluto), a company incorporated under the laws of Dubai International Financial Centre (DIFC), Dubai holding commercial license number CL5294. Pluto is a financial technology provider and not a bank. Pluto provides certain facilities for the utilization of payment services through Nymcard Payment Services LLC under the applicable payment network and Bank Identification Number Sponsorship of Mashreq Bank PSC. This is pursuant to the license by Visa® Inc and is available for the residents of UAE subject to Terms and Conditions of use
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The Pluto Visa Spend cards are issued by the Celtic Bank under the Stripe Issuing Spend Card Program. By applying for a product including a card account, using a card or otherwise you agree to the terms and conditions of Pluto and the Issuing Bank terms available at https://stripe.com/legal/celtic-spend-card.