CSP - Conferma Settlement Platform
The smarter way to pay hotel bills
CSP (Conferma Settlement Platform) is the world's first secure hotel settlement system and the second part of Conferma's integrated hotel booking and payment service.
Winner of this year's best Business Travel Product in the 2009 Business Travel World Awards, the software has resolved long-standing issues with the traditional bill-back process and has quickly become established as the industry standard for paying and tracking hotel bills.
CSP (Conferma Settlement Platform) gives hotels immediate payment on guest departure while agencies benefit from extended payment terms. By automatically matching booking and billing data, it removes time-consuming manual processes and slashes the average time and cost of transactions for agencies.
The system provides the hotel with a payment instruction drawn on one of our card partners' cards at the point of booking. Each transaction has a unique code to which all billing information is attached upon checkout.
The booked and billed data is then automatically matched to provide a detailed statement in conjunction with our card partner.
The system complies fully with the strictest Payment Card Industry's Data Security Standard criteria used by leading banks and financial institutions.
CSP (Conferma Settlement Platform) is widely used by the UK's top travel management companies and leading blue chip corporates.
How does Conferma Settlement Platform help me?
Increases productivity:
- Cuts down on time-consuming and expensive manual reconciliation processes by automatically matching the booking with the payment
- No more paper chasing and hours spent sorting out disputes with staff or hotels
Improves cash flow:
- Allows you to invoice clients within 24 hours of a client's hotel stay rather than weeks or months afterwards
- With much longer credit terms from a corporate card partner, you can say goodbye to agency credit and financial exposure
Eliminates your exposure to fraud risk:
- A unique virtual credit card number generated for each reservation alleviates fraud possibilities
- An audit trail traces each booking back to the individual booker, eliminating security issues.
Improves customer service:
- Frees up staff to focus on bookings not admin
- Gives clients complete visibility and comprehensive spend data so they can track travel policy compliance
- Provides clients with an extended range of hotels to stay at. CSP can be used with any hotel that accepts one of our card partners’ cards, with no change to their systems.