European travel and expense (T&E) management provider KDS has formed a partnership with travel and expense booking, settlement and reconciliation technology group Conferma, which will enable KDS to offer a virtual payment platform to clients, offering traveller payment flexibility with improved payment security and management control.
“This partnership will facilitate our client travel management and will ultimately help them reduce their spend,” said KDS director – global business development, Hubert Martin. “Travel managers can now have at their fingertips a high quality, accurate and full audit trail that helps drive corporate governance, adherence to policies and enhanced supplier management.”
KDS added that while organisations and travel managers demand control and visibility of spend they don’t necessarily want to issue all their travelling staff with a corporate card. In association with their banking partners Conferma creates a virtual card solution, which companies can use to pay and settle travel bills only when they are needed.
Conferma then provide matching data, which includes booking, payment and invoicing management information which can be organised by cost centre, individual business traveller or hotel property. This automated matching process reduces administrative time and room for error, and therefore ultimately saves money.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.
The key points of discussion at 2017's EuroFinance conference in Barcelona on Wednesday were how to deal with the geopolitical uncertainty that is being seen the world over, regulation, automation and cybersecurity.
HSBC arguing that mid-market businesses are missing out on huge exporting opportunities, 3D printing being predicted to cut global trade by 23% in 2060 and the blockchain community launching a voluntary transparency project all hit the latest headlines in the world of treasury this week.