Managed travel programs normally draw booking and spend data from both a travel management company and a corporate credit card provider. The TMC supplies information on what was booked, and the card provider gives data on what was actually paid. Those two sets of figures aren’t necessarily the same: A traveler staying in a hotel might accrue extra charges on meals or parking, and sometimes taxes are only added to the final invoice.
That’s where a virtual payment automation solution using a virtual credit card makes the difference. A virtual credit card has a unique identifier linked to the original booking. So, the sum paid on checkout can be connected to the booking data. Virtual payments document all spending and allow the company to easily spot expenses that need further investigation. You can drive business goals by intervening and educating travelers who pay WiFi charges that should have been included in the negotiated room rate or buy out-of-policy services like hotel dry cleaning.
In addition, virtual payment automation makes it easy to connect bookings to custom data fields like employee numbers, cost centers and project codes. You gain more insights without chasing employees to fill in forms.
Want to know more about how virtual payment automation works? Download BCD Travel’s A Virtual (Payment) Reality white paper, and talk to your account manager about whether virtual payments fit your travel program.