Better Data

How enhanced data can enhance a bank’s client relationship

Simple Data and Reporting: a booking transaction record provided by your Travel Management Company for instance, is matched to a payment transaction record provided by your bank. This facilitates 100% matched data using Virtual Cards, thereby greatly reducing your reconciliation costs. Read more about how Conferma powered Virtual Cards help deliver better data below:

1. Better order data

The Conferma Virtual Card system allows multiple levels of information to be input at point of purchase. Because the Virtual Card number is deployed for a single use, that information stays with the Virtual Card throughout the purchasing process.

2. Better purchase data

All the information provided by the Virtual Card issuer when the payment is made is locked to the Virtual Card throughout the entire purchase process.

3. Better invoice data

In some cases (e.g. hotel stays at Premier Inn or Travelodge), the Conferma Virtual Card system receives a direct invoice feed from the supplier, including full cost itemisation and VAT/tax details. Again, this is attributed to the Virtual Card and follows it through the purchase process.

4. Quicker reporting and reconciliation

Instead of a monthly statement with extremely limited detail, the Virtual Card system provides next day reporting with payment data already reconciled, along with a high level of data.