Chris Singh, Manager of Global Travel at The Walt Disney Company, has been with the company for thirty-six years. And for 15 years, he has focused on travel technology. One of his strategies included implementing an automated virtual payment technology for third-level data matching for card reconciliation. GraspPAY has been one of the key components of Disney’s virtual payment program.
The importance and benefits of automation are prevalent for card reconciliation. Where once business travel was tedious and stressful, today’s travel buyer and business traveler have come to expect a streamlined experience. Intuitive and simple-to-use technology is changing the business travel landscape, and for credit card reconciliation, certain virtual card programs have taken it to the next level.
The Walt Disney Company’s hotel billing reconciliation tool is built in such a way that automation helps make safe and secure payments on time. The very mention of reconciliation can make most travel buyers and travel managers sigh and roll their eyes, and that comes as no surprise. Historically speaking, the reconciliation process has been one plagued with pain points. The whole process can take way too long to gain any accurate readout of costs and expenses. Combine that with frequent errors, reconciliation is a process that many travel buyers have a challenging time receiving a true ROI for the travel expenses. Sometimes it’s a lack of consistency and standardization of invoices or even disjointed technology.
A SIMPLE AND EFFECTIVE SOLUTION
The Walt Disney Company’s program is for non-employees and employees without a card. For non-employees who must go through a travel agent for hotel bookings, a script is used which leverages an “agent” bank of issued cards to book the hotel and queues to GraspPAY for fund loading and a hotel billing letter. The key to making this process so simple and easy is the unique way that GraspPAY works within the profile in point of sale systems (GDS/booking tools). As GraspPAY is the only solution that functions in this manner, it provides Disney with a way to seamlessly implement the virtual card management process into standard workflows in both the GDS and booking tools.
The Walt Disney Company’s virtual card program solves most hotel billing reconciliation problems. This has led to a 90% reduction in reconciliation errors. It is a big step towards greater automation and increased efficiency. A hallmark of a strong company and good management practice is being able to identify inefficiencies in your workflow, craft a solution and then implement it. What sets Disney’s solution apart is the ability to create a number of customized workflows by bookings for guests and by types of travelers.
By moving bookings online, a virtual card program can ultimately save a lot of money. It reduces workflow and streamlines your operation. The more transactions that are moved online, the more savings there are. A company of this size could potentially save up to 2.8 million dollars annually.
With GraspPAY, The Walt Disney Company improved operational efficiency by generating virtual cards automatically within current workflows. It is an entirely automated process that uploads virtual card numbers. GraspPAY is a fully integrated point of sale, traveler profile, and business intelligence solution in one.
BENEFITS OF A VIRTUAL CARD PROGRAM
Increased Efficiency and Productivity
Ensure Compliance to Corporate Travel Policy
Eliminate Risk and Fraud
Curtailing Redundancy in Department
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