Conferma And American Express To Launch Hotel Billback Solution
14/12/2009
Conferma and American Express Global Commercial Card have formed an agreement to offer travel management companies the Conferma Settlement Plan, which is an automated payment solution for hotel direct billing. This new agreement will allow companies to better utilise resources through the programme, thereby eliminating the often labour intensive hotel billback process.
The Conferma Settlement Plan facility is now available to American Express Global Commercial Card customers and those businesses who use Conferma as their current provider. The solution makes use of a virtual American Express account number using American Express' vPayment technology. Every hotel booking can be identified and tracked from conception through to final settlement and audit. Payment is made using the client's vPayment account, thus reducing collections liability and potentially improving cashflow management for travel management companies and their clients.
The automatic solution removes manual intervention and thus eliminates for both the business customer and the travel management company the possibility of human error, and the resource commitment needed in the invoice reconciliation process. The combination of vPayment's control and referencing capability, with Conferma's invoice management service, ensures clients have access to management information and line item detail on their hotel spend. Furthermore, the joint solution provides control and automation of corporate hotel payments and comprehensive reconciliation in a paperless, hassle-free environment.
“By combining the capabilities of the Conferma and vPayment technologies our system will reduce financial exposure for travel management companies and automate much of the manual operation involved in hotel booking and billback, providing easy reconciliation with line item transaction data for billing and tax reclamation,” said Simon Barker, chief executive of Conferma.
Ian Reid, vice president of corporate payment solutions at American Express, said “Our vPayment technology is a proven means of tightening transaction control and streamlining reconciliation, which ensures that all payments are clearly referenced in terms familiar and useful to the travel booker. Our collaboration with Conferma underlines both the widespread application of this technology and our commitment at American Express to developing innovative payment solutions for our clients.”
About American Express Company
American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, travellers cheques, travel, financial planning, investment products, insurance and international banking.
About Conferma
Conferma is an expert in travel and expense booking and settlement technology. The booking, payment and reconciliation technology which Conferma delivers enables process improvement, innovation and secure payment management, all of which drive cost savings and efficiency.
Conferma first launched its settlement platform in 2004 and is privately owned. It is independent and guards its neutrality by a policy of being willing to work with all GDS', direct content suppliers, travel management companies, and card providers.