Conferma Pay and Inlogik have teamed up to introduce a new solution for business travelers that uses virtual card technology to streamline and automate the reconciliation of hotel bills. Businesses using this new service will have all of their workers’ hotel bills recorded and converted so that they are ready for tax and audit. Corporate travelers and their companies save a lot of time thanks to this simplified method, which also gives better monitoring and more control over spending budgets.
Inlogik’s ExpenseMe/ProMaster Expense Management System has been connected with Conferma Pay’s virtual card solution to streamline the frequently time-consuming expense process. Both companies recognize the need for payments to be efficient, quick, and safe. This increases compliance, lowers purposeful and unintentional fraud, and raises employee happiness.
The virtual cards make it possible to collect and classify line item lodging folio data with GST removed. Now that organizations have simple access to the invoice detail, they are able to claim the GST.
Travel is a crucial component of conducting business, says Jason Lalor, CEO of Conferma Pay. The accompanying expenses, however, can be extremely difficult to manage, not only for those who are keeping track of their spending but also for enterprises who waste time on ineffective expense management techniques. This new approach, which is based on our extensive knowledge of the hotel and travel sectors, gives businesses what they most need: more time and better visibility.
The service is built on Conferma’s snap+ solution, which gathers bills and extracts pertinent data, revealing the breakdown of the overall cost of stay, including the hotel fee and extras like parking, meals, and laundry. Using their financial coding across the data, Inlogik uses this information to automatically produce the expense entries, providing the gross, net, and tax amounts related to each line item.
According to Richard Eskell, CEO of Inlogik, “Businesses can have greater visibility over the detail of their travel expenses because to the granular level of data this technology delivers. This important understanding is essential for providing organizations with insights and understanding of their operations at all levels as corporate travel continues to increase.
Source- Travel daily
Link- https://www.traveldailymedia.com/conferma-pay-and-inlogik-launch-hotel-expense-automation/