modernize your payment process, win the connected customer

Modernize your payment process Win the connected traveler

Webinar 23 April 2015

Your hosts

Nick Vivion Global Events Lead & Moderator Tnooz

Gene Quinn CEO & Producer Tnooz

Your presenter

Jessica Patel Vice President of Travel Vertical

American Express Global Corporate Payments

Poll no. 1 Where are you located?

Poll no. 2 Which industry segment do you

represent?

Poll no. 3 How do you reach your connected

travelers today?

WHO ARE THESE CONNECTED TRAVELERS?

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WHAT CONNECTED TRAVELERS WANT

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THEY EXPECT AN EXPERIENCE WITH:

AUTHENTICITY CONNECTIVITY FLUIDITY

SO THEIR TRAVEL COMPANY NEEDS MORE:

INNOVATION COLLABORATION AGILITY

TREND 1: THE CONNECTED TRAVELER CRAVES UNIQUE, LOCAL EXPERIENCES

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TRAVELERS CONTINUE TO PACK IT ALL IN

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TRAVELERS ARE ASKING FOR

“ME TIME”

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BUSINESS IMPACT: COLLABORATION IS KEY

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BUSINESS IMPACT: MORE COMPLEX DISTRIBUTION SYSTEMS

Complex Trips = Complex Distribution System = Complex Payment System

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TREND 2: THE CONNECTED TRAVELER IS TECH-ENABLED

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THE CONNECTED, TECH-ENABLED TRAVELER: SEAMLESS, SMART AND FLUID

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[DESIGN  NOTE]  Find  a  way  to  represent  the  demand  for  connec=vity  through  mul=ple  devices  and  plaBorms  

BUSINESS IMPACT: DYNAMIC PRICING DEMANDS AGILITY

Increasingly, dynamic pricing is becoming more common.

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Price

Time

Poll no. 4 What resources per week does your

organization spend on payment processing and reconciliation?

THE CASE FOR MODERNIZING TRAVEL PAYMENT PROCESSES

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COST OF A MANUAL PAYMENT PROCESS

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Risk of fraud exposure

Errors can impact the bottom line

Time, paper, process ine!ciency,

and errors

DOES THIS SOUND FAMILIAR?

“The biggest drains on sta" resources are invoice reconciliation and manual processing.”

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PhocusWright Payment Unsettled: Cost, Opportunity and Disruption in Travel’s Complex Landscape, 2013

HOW MUCH TIME DOES YOUR TEAM SPEND?

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“On average, the travel industry employs 12 sta" per firm spending 20 hours a week on payment processing.”

PhocusWright Payment Unsettled: Cost, Opportunity and Disruption

in Travel’s Complex Landscape, 2014

FRAUD RISK IS TOP CONCERN

"Fraud causes the most concern among [travel] companies with a major online presence."

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PhocusWright Payment Unsettled: Cost, Opportunity and Disruption

in Travel’s Complex Landscape, 2014

BILLING ERRORS IMPACT EVERYONE

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Poll no. 5 What is your biggest challenge with your

suppliers?

HERE’S HOW AMERICAN EXPRESS

CAN HELP

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SPEND MORE TIME THINKING EXPANSIVELY ABOUT TRAVEL OPPORTUNITIES AND LESS TIME DEALING WITH BACK-OFFICE CHAOS

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CAPTURE OPPORTUNITIES ON BEHALF OF YOUR CONNECTED TRAVELER

vPayment provides a streamlined payment process that can mean less paperwork, reduced billing errors and easy invoice reconciliation

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3 0 5 8 4 2 9 1 7 0 2 5 8

A single-use vPayment account number is generated

for the transaction and sent to the supplier

The payment is verified. (If the amount or date are incorrect,

the transaction will be declined.)

The supplier charges the vPayment account to

receive payment.

INCREASE EFFICIENCY

Single-use virtual account numbers with user-defined controls help improve the overall e!ciency of the payment process by

reducing time and money spent on manual payment processes.

vPayment from American Express can help you:

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Reduce time spent on the invoicing process

Reduce paper-based payment processes

AUTOMATE RECONCILIATION

vPayment allows you to create single-use virtual account numbers with transaction-level spend controls and enhanced data capture

to easily pay and reconcile expenses

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3871

4562

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INCREASE CONTROLS

Set spend limit, usage dates, and key transaction details to help reduce errors and risk of fraud exposure from manual payments.

vPayment can help:

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Enhance control while reducing errors

Reduce fraud risk1

1 vPayment can help reduce the risk of fraud with transaction-level controls which allow your

company to set a specific date range and amount for payments."

vPayment can help you:

Improve cash flow management Enhance control while reducing errors

Improve cash flow flexibility Improve payment e!ciency

VPAYMENT FROM AMERICAN EXPRESS

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BACKED BY THE AMERICAN EXPRESS INFRASTRUCTURE

You can trust American Express as your ally in the travel industry. That means stellar customer service as we guide you in leveraging our technology, while helping your business improve cash flow flexibility.

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CASE STUDY: GTA

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Challenge Automate payment process to reduce reconciliation errors and create a more streamlined process

Result Reduced time spent on the reconciliation Increased production volume by 60% without adding back o!ce sta"

GTA INCREASED EFFICIENCY

“With vPayment, we’ve been able to handle a larger volume of work with a smaller number of resources.”

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Headshot  of  client  maybe?  NO  

Jackie Walsh financial controller, GTA

TALK TO A TRAVEL PAYMENT SPECIALIST TODAY. Call: 855-835-8848 Visit: americanexpress.com/travelpayments Email: jessica.j.patel@aexp.com

Q & A

Thank you!

Send your questions and comments to nvivion@tnooz.com

Replay and presentation of webinar will be available on www.tnooz.com