Our Blog

Connect with us on LinkedIn

Friday, 5 February 2010

Reduce, reuse, recycle.

Schools have always been known for teaching the three Rs – reading, writing and arithmetic – although in the past any child who pointed out that writing and arithmetic don’t begin with R would have earned a clip around the ear.

Schools these days have another three Rs that they are teaching their pupils – the environmental mantra of reduce, reuse, recycle.

It is a mantra that Conferma believes in too – and not just when it comes to the environment. CSP (the Conferma Settlement Plan) lets companies reduce the number of corporate cards they hand out to their employees and it reuses and recycles the card numbers in a very clever way.

Imagine you are a company with thousands of employees who regularly stay in hotels on business. You could issue corporate cards to all of those who travel. You could, but it could become logistically challenging and introduce greater risk of employee fraud. What if there were a way to create a bank of virtual cards which are used to pay for hotels only when they are needed. That is just what the CSP tool does.

Conferma has a very clever algorithm that works out the optimum number of cards to have in this virtual bank. When a hotel is booked, either through our own Hotel Booker tools or through a third party booking system based on our booking engine, the booking can be billed back to one of these virtual cards. That card is then taken out of circulation until the booking is reconciled, allowing the card number to be used as a virtual ID tag for the transaction.

In fact, because the card is only ever used in this virtual manner, there is no need to issue a card at all. What could be better for the environment than that?

No comments:

Post a Comment