“In corporate travel, the introduction of a virtual payment process can be critical for the success of a managed program.”
For many companies, handling and processing travel expenses can easily become an administration nightmare. Analysts estimate $1.5bn is spent each year on manual processing and reconciliation.
In the last few years, virtual payments have emerged as a solution to this problem. These alternative payment methods are not only simple to implement and use, but also have the potential of solving three key areas: fraud, policy compliance and expense reporting.
But what exactly are virtual payments?
In this white paper, we invite you to read how virtual payments are gaining traction in corporate travel, how they work and how they can benefit any travel program.