Integrated Platform Holds Potential to Increase Hotel Compliance by 30 Percent
COLOGNE, Germany–(BUSINESS WIRE)–#analytics—HRS, the leading Global Hotel Solutions end-to-end technology provider in business travel, today announced the launch of its new corporate hotel payment platform. Named Invisible Pay, the solution addresses the industry’s longstanding challenge – high levels of out-of-policy spend and insufficient use of preferred hotels – by attacking the problem with advanced payment automation.
HRS has proven the connection between the simplicity of traveler payment and the choice of hotel that a traveler will make. Two things that travelers abhor: payment complications at the hotel front-desk, and expense reporting. Invisible Pay leverages HRS’ proprietary hotel management platform to cut through these inefficiencies with solutions that benefit travelers, their companies, and their partner hotels.
GBTA research released in July 2019 illustrates that business travelers crave simpler, more seamless payment processes. Most noteworthy: 88 percent of business travelers surveyed said if their company offered central or direct payment with a hotel, they would book that property over one that does not offer this method.
Invisible Pay is built to accommodate the data requirements of both corporate accounting departments and hotels, speeding payments and secure financial data with 98 percent acceptance.
“As we’ve piloted with integrated hotel payment solutions around the world in recent years, the program compliance metrics are clear,” said HRS CEO Tobias Ragge. “When our clients use our payment solutions, we’ve seen hotel compliance rise by on average 23 percent. The downstream savings – both in room rate and more seamless expense processing – increasingly drive CFOs to deploy across oceans and maximize the incremental savings.”
The Invisible Pay business unit of HRS leverages innovative check-in/out payment technology along with HRS’ proven solutions. Business travelers have used the company‘s automated payment solutions in more than 150 countries this year, covering more than one billion (USD) worth of transactions. HRS collects, audits and reconciles all invoices, and digitizes the resulting data for process automation and corporate travel analysis. The company’s payment solutions are also used in China – a market with complex corporate hotel payment regulations – by China‘s top high tech, ecommerce, mobile and telecommunication companies.
Invisible Pay benefits three key corporate audiences:
- Accounting Departments: Initial pilots have driven processing time down from seven minutes to one minute – an 85 percent reduction. Invoice accuracy increased from 79 percent to 98.8 percent.
- Travel Procurement: Consistent protocols and deeper hotel connections reduces rogue bookings and enhances data quality. Use of preferred hotels can increase by as much as 30 percent.
- Business Travelers: Guaranteed acceptance at the front desk speeds check-in, while automated payment eliminates check-out lines. Hotel expense reporting is largely automated through the fully itemized digital receipt data that is uploaded into the corporate expense system, saving employees an average of 12 minutes per expense report…all while expediting appropriate reimbursement.
Hotels also gain from secure data processes that minimize engagement for their finance departments.
HRS simplifies business travel. Corporate travel managers and business travelers around the world trust 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 multinational corporations rely on HRS Global Hotel Solutions. Customers include global Fortune 500 companies, including Google, Siemens, Alibaba, China Mobile and Volkswagen. HRS also works with hotel suppliers, driving transparency and helping to streamline corporate hotel distribution processes. Founded in Cologne in 1972, HRS today has more than 1,500 employees in more than 35 offices worldwide – including Berlin, London, Milan, Mumbai, New York, Paris, San Francisco, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tokyo and Warsaw. Clients and business travelers benefit from HRS’ global network combined with local market expertise. More information: hrs.com/corporate/
HRS Global Media Relations