modernize your payment process, win the connected customer
TRANSCRIPT
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
9325
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: [email protected]
Q & A
Thank you!
Send your questions and comments to [email protected]
Replay and presentation of webinar will be available on www.tnooz.com