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Conferma Pay and Inlogik have partnered to launch a new solution for business travellers to simplify and automate the reconciliation of hotel expenses using virtual card technology. Businesses implementing this new service will have all of their employees’ hotel invoices automatically tracked and transformed to be tax and audit ready. This streamlined process not only saves corporate travellers and their employers significant time, it provides improved oversight and increased control over expense budgets.
Understanding the need for payments to be efficient, fast and secure, Inlogik’s ExpenseMe/ProMaster Expense Management System has been integrated with Conferma Pay’s virtual card solution to automate the often-laborious expense process. This boosts employee satisfaction, reduces intentional and accidental fraud, and improves compliance.
The virtual cards enable the capture and categorisation of line item accommodation folio data with GST extracted. Organisations can now claim the GST because they have easy access to the invoice detail.
Jason Lalor, Chief Executive Officer at Conferma Pay, comments, “Travel is an essential part of doing business. However, managing the associated expenses can be a huge headache, not only for individuals tracking their spend but for businesses who lose time to inefficient expense management methods. Drawing on our long-standing experience in the hotel and travel industries, this new system gives business what they need most: more time and better visibility.”
The service is based on Conferma’s snap+ solution, which collects invoices and identifies relevant invoice data, breaking down the total cost of stay, including the room rate and extras such as parking, meals and laundry. This information is then provided to Inlogik to automatically create the expense entries, applying their financial coding across the data which provides the gross, net and tax amounts associated to each line item.
Richard Eskell, Chief Executive Officer at Inlogik, comments, “The granular level of data this solution provides means businesses can have greater visibility over the detail of their travel expenses. This critical insight, as corporate travel continues to grow, is key to giving businesses insights and understanding of their operations at every level.”
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