tnooz wex webinar - how tmcs and agents tame the data monster with payments tech
TRANSCRIPT
Getting a grip on corporate travel
WebinarJuly 14, 2016
Your hosts
Sean O’NeillEditor in Chief & ModeratorTnooz
Gene QuinnCEO & ProducerTnooz
Poll no. 1Where are you located?
Poll no. 2Which industry segment do you represent?
GettingaGriponCorporateTravel
TnoozJuly14,2016
Presenters
JimMcGowanWEXIncVirtualPaymentsProfessionalJim.McGowan@wexinc.com
DaveLukasGraspTechnologiesVicePresident/[email protected]
Agenda
Introductions
WhoWeAre
StateofBusinessTravel
BigData
BecomingaSuperheroWhatisGraspPay
Questions
WhoisWEX?
• IndustryleaderinB2Bvirtualpayments
• Paymentssolutionprovidertotheworld’slargestonlinetravelagencies
• Award-winning,boutique-levelcustomerserviceandsupport
16yearsexperienceintravel
$20Bannualtraveltransactions
200+countries
WhoisGraspTechnologies?
• Theleaderinglobaltraveldatamanagementandconsolidation
• Largestprovideroftravelreportingandbusinessintelligence*
• Datatechnologyproviderfornearly70%ofTop50TMCsonTravelWeeklyPowerListandmanyFortune500’s
*based on # of clients
20yearsinbusiness
$50Bannualtransactions
100+countries
BusinessTravelontheRise
...soisaccountabilityfortheinvestment.
GlobalBusinessTravelAssociation(GBTA)expects3to5%growth
Reboundingeconomy
Increasinglyproductivetravelers
Facetofaceiseffectivemarketdifferentiatorindigitalworld
Decisionswithoutdataaredangerous...
CurrentSystemShortcomings
2nd LargestControllable
ExpenseisT&E
T&E DataisDisparateandDisjointed
NoDataStandards,No IntegrationBetweenMost
Systems
EveryProgramisDifferentinStrategy
andUniqueRequirements
DataManagementforMostisManual
andUntimely
DataChallengesCreateaVeryReactive
Environment
BigData
• Within5years,therewillbeover50billionsmartconnecteddevicesintheworld– alldevelopedtocollectandsharedata
• Retailerswholeveragethefullpowerofbigdatacouldincreaseoperatingmarginsbyasmuchas60%
• Lessthan0.5%ofalldataiseveranalyzedandused
ForbesMagazine,September2015
Moredatahasbeencreatedinthepast2yearsthanintheentireprevioushistoryofthehumanrace.
Poll no. 3What is the biggest obstacle in controlling
business travel costs?
...datawithoutdecisionsismeaningless.
“Aftercarefulconsiderationofthe437charts,613graphsand72spreadsheets,I’vedecidedweneedtorunafewmorereports.What’sforlunch?”
HerdingtheRightData
ThebenefitsofBigDatacan’thappenwithoutconsolidatingthedata.
Asclosetorealtimeaspossible
Transparency
Benchmarking
Trending
Monitoring
Onethingatatime
Control&Compliance Efficiency &ProcessSavings MakeBetterDecisions
• Preventoverpayments;setcontrolsforwhenandwherepaymentsaremade
• Virtuallyeliminateriskandfraud
• Ensurecompliancetocorporatetravelpolicy
• Reconciliationisstreamlinedasthereis1:1ratiobetweenreservationIDandvirtualcard
• Disputeresolutionismucheasier
• Improvereportingandaccountingwithenhanceddatacapture
• Negotiatebetterpricingwiththerightsuppliers
• BetterassessROIforindividualtrips
• Usedatatoshapeandbuildsupportfortravelpolicies
GoFromGateKeeper...
• Policingexpenses• Dictatinglimitedsupplierlist• Suspectingeverytransaction• Chasingdownreceipts
...toTravelConsultantSuperhero
• Havetimetobeproactive,ratherthanreactive• Drivebettersuppliernegotiations• Persuadeemployeestocomplywithpolicy• Protectthecompanyfromcardfraud• GiveprecisedatafortheIinROI
Poll no. 4What data would you like to see in one place?
ExperienceTurnedIntoGraspPay
Data Control
Efficiency
TurningtheModelUpsideDown
Zerotransactionandsetupcosts
GDSindependence– worksinallthemajorGDSs
NoITresourcesorinstallsneeded,innativeGDS
Multicurrencyandmultitraveltypes
TravelExpertise+DataManagementExpertise+VirtualCards
GraspPay – WelistenedtoourclientsCustomizablewhentosendfaxtohotel
Canautomaticallyemailnotificationonfailedfaxes
PNRdatainreportingrealtime+nightlyrecdata
Travelersgetacopyofthefaxwithoutdownloadinganapp
Includesrobustbusinessintelligencesuite
CapturesallPNRdataincludingcostallocationfields(UDIDsandRemarks)
Customization
Notification
Reporting
Travelercopy
BIsuite
Datacapture
BottomLine
Togetyoursupersuit(nocapes),[email protected]
Withtherightdatayoucangofromtravelgatekeepertotravelconsultantsuperhero
Questions
JimMcGowanWEXIncVirtualPaymentsProfessionalJim.McGowan@wexinc.com
DaveLukasGraspTechnologiesVicePresident/[email protected]
Thankyou!
Thank you!
Send your questions and comments to [email protected]
Replay and presentation will be available on www.tnooz.com