NEW YORK--(BUSINESS WIRE)--HRS, the world’s leading provider of end-to-end solutions for corporate hotel programs, announced that its Paperless virtual card solution is now available for companies and hotels in North America. The Paperless service, used today by companies in multiple European companies, is enhanced to meet the travel and financial process requirements of North American managed travel programs.
A 2017 study of booked rates by HRS clients using Paperless Payments, before and after implementation, found the average booked rate reduced by more than 12 percent. In addition, a prominent global pharmaceutical company, with hotel bookings across Europe, recorded a 78 percent increase in online adoption after implementing Paperless Payments, leading to rate and transaction-cost savings. Hoteliers gain as well; the same HRS study found that companies using a virtual card record 14 percent less no-shows than companies using more traditional forms of payment.
Virtual cards offer a number of benefits for companies, business travelers and hotels. Beyond savings, corporations gain from insight into detailed data, including all booking, payment and invoice data. Fraud scenarios are minimized and the opportunity to claim VAT is more easily supported. Travelers benefit from not having to pay in advance or at the hotel during their stay; they also save time on expense reports. Hoteliers gain from reduced administrative payment activities at check-in, fewer last-minute cancellations, and more secure payment channels with clients.
Interest and use of virtual cards on the lodging front is on the rise. The Global Business Travel Association (GBTA) has a new U.S.-based committee focused on helping hotels work with their corporate clients on virtual card acceptance. On the supplier side, the Hotel Electronic Distribution Network Association (HEDNA) has published a guide for hoteliers to expedite their everyday use of this new format.
Paperless Payments is fully integrated with AirPlus’ A.I.D.A. Virtual Cards offering, which just launched in the U.S.A. in October. The integration enables expedited launch scenarios for companies deploying virtual cards. An upcoming Association of Corporate Travel Executives (ACTE) webinar on December 6 will feature HRS and AirPlus discussing the growing use of virtual cards, and trends that will impact this growth in 2018.
“HRS is uniquely positioned to help advance use of virtual cards with both corporate programs and hotels in North America,” said Rebecca Kilby, president and CEO of AirPlus International Inc. “We’ve already worked with several HRS clients to implement virtual cards in Europe. In even more cases, our mutual clients have counterparts in North America that are aware of the benefits; we’re confident that will only help speed deployment in 2018.”
“Virtual cards represent yet another avenue for corporate programs to both save money, gain insights, and reduce the hassle factor for travelers,” said Suzanne Neufang, vice president of the Americas for HRS. “Corporate travel and finance departments increasingly like the depth of detail and increased security virtual cards provide. As more companies simplify the entire lodging segment of their travel programs, Paperless Payments stands out as a new technology that drives ongoing efficiencies and fiscal gains.”
HRS – Global Hotel Solutions
HRS simplifies business travel. Corporate travel managers and business travelers around the world trust in HRS to find the best accommodation and simplify all processes related to their business travel. In addition to professional hotel sourcing and the negotiation of corporate rates with hotels, HRS optimizes paperless payment of hotel accommodation and meetings as well as automated invoice processing. More than 3,000 corporations around the globe trust in HRS Global Hotel Solutions. Customers include global players from the Fortune 500 companies, including Google, China, Toyota, Fiat, Hitachi, Alibaba and Panasonic. In the global distribution systems (GDS), HRS is the largest hotel provider with five million bookable rooms in 350,000 hotels in 190 countries. With a high proportion of individual hotels, which account for more than 70 percent of the hotel offer worldwide, HRS helps companies to compile a balanced hotel program. HRS pursues a clear goal: savings for companies and high traveler satisfaction. HRS was founded in Cologne in 1972 and today has more than 1,500 employees in 28 offices around the world, including offices in London, New York, São Paulo, Shanghai, Singapore and Tokyo.
Further information at corporate.hrs.com
