tag:blogger.com,1999:blog-11317737702140702602024-03-13T12:18:48.460+00:00Confermaconfermahttp://www.blogger.com/profile/14588084830517136048noreply@blogger.comBlogger60125tag:blogger.com,1999:blog-1131773770214070260.post-51024937205312462442014-07-28T10:15:00.000+01:002014-07-28T10:16:04.706+01:00Combatting corporate credit card fraudAccording to a study by Nilsen in 2013, credit card fraud in the U.S. alone rose to a staggering $5.33bn. Globally that figure was estimated to be more than double that amount at $11.27bn.<br />
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Recent cyber attacks on U.S. retail chains Target and Neiman Marcus are reported to have netted fraudsters around 110 million sets of customer data, including their credit card numbers. In 2012, about 40 million sets of payment card information were compromised when hackers attacked Adobe's customer databases, many of which belong not to individuals, but to large corporations.<br />
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Technological advances are leading to an ever growing global market place, with more and more of us trusting large organisations with our financial information.<br />
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However, problems arise for all parties involved once the security of these organisations is breached.<br />
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Here at Conferma, we have been working on creating a payment solution that eliminates the risk of large scale fraud, even when hackers are able to steal your corporate credit card information.<br />
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<b>So how does our financial technology system work?</b><br />
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We have created a product called Virtual Card Numbers (VCNs), essentially a digital credit card. This means that for every individual purchase undertaken, a unique 16-digit credit card (or 15-digit in the case of American Express), plus three-digit security code, is generated. The VCN can then be accessed via one of Conferma's secure applications on your desktop, mobile or tablet devices.<br />
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Each unique VCN is valid for a specified amount of money and for a specified date range. Further controls ensure that a VCN can only be charged by a specified category of merchant. For instance a VCN designated for a hotel transaction can only be charged by a hotel. Only if all these criteria are met is the payment able to be processed.<br />
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So, in the event that a merchant from whom you have purchased falls victim to a security breach in the future, a VCN will be useless in the hands of a hacker due to the controls imposed on the VCN.<br />
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Our financial technology is available for most major banking and credit card providers, including AirPlus, American Express, Barclaycard, HSBC, MasterCard, U.S. Bank and WEX. And whilst we are best known for our integration of VCNs into the corporate travel sector, we are able to offer a wide range of payment solutions across many industries.<br />
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At Conferma, we are committed to eliminating corporate credit card fraud.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-16839956960110504692014-07-04T17:17:00.002+01:002014-07-24T14:57:53.059+01:00A company credit card you can't loseYou know that heart-sinking when you realise you can't find your credit card?<br />
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Even worse when it's your company credit card and you are miles away from home and about to pay your hotel bill. You know life is about to get a whole lot more complicated.<br />
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Telephone calls to cancel the card and let your company know are difficult to manage, especially if you're in a different time zone. To say nothing of how this loss affects your employer.<br />
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As well as dealing with all the practical aspects of your missing credit card, you also have to cope with the extra stress that this creates for the remainder of your business trip. Hardly an ideal set of circumstances if you're about to go into a key meeting with a customer, where you need to be completely focused and at the top of your game.<br />
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So wouldn't it be wonderful if your company could give you a credit card that simply couldn't be lost or stolen?<br />
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Magical as this sounds, here at Conferma, a FinTech company, we have created such a card, aimed at the corporate travel market.<br />
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In partnership with the major banks and credit card schemes we have created Virtual Card Number (VCN) technology, details of which can be stored securely on apps available on your desktop, smart phone or tablet.<br />
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Not only does this free up valauable space in your wallet, you will never again experience that sense of dread when you discover your credit card has vanished.<br />
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However, the advantages of using VCNs whilst you are working away from home extend far beyond their 'unloseability'. For each individual expense, a unique single-use card number is generated, which can only be used by you to settle a single, pre-authorised expense, eliminating the risk of third party fraud on your card in an instant.<br />
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For example, if your company have booked you into a hotel in New York for three nights whilst you attend a conference, a VCN will be generated which is only valid for use by yourself, on those exact dates and at the specified hotel. Should your plans change, the VCN can be updated to reflect these changes via an authorisation process within your company.<br />
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So VCNs are easy to use, secure and flexible.<br />
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But there is more. The final benefit of using a VCN is that it removes the need to complete a manual expenses sheet. Because each VCN acts as both a unique booking reference and a unique means of identifying a payment, all purchases made using a VCN are posted automatically to your company's purchase ledger and are automatically matched to the booking or purchase data. The quality and amount of data captured on the VCN vastly improves your overview of corporate expenditure, whilst enhancing process efficiencies by streamlining accounts payable processes.<br />
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At Conferma, we believe that Virtual Card Numbers are set to revolutionise the life of you, the corporate traveller, leaving you free to get on with doing your job. <br />
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<br />devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-23647772232085409762013-12-05T14:33:00.003+00:002013-12-05T19:23:45.288+00:00Financial Technology UKA recent article in the Sunday times (1 December 2013) shone a light on the UK Government's desire to grow the Financial Technology industry. When launched in early 2014, FinTech UK will bring together start-ups, small firms and large companies from the financial and technology sectors to share ideas and promote the UK as a centre of excellence.<br />
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Following six years of strife in what was one of the star sectors of UK PLC (Banking), it will be interesting to see if FinTech UK can help repair reputations.<br />
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Conferma is already at the forefont of FinTech UK innovation and our payments ecosystem is being embraced by world class institutions from San Francisco to Singapore. We are living proof that British finance innovation and technology is highly regarded around the world and we look forward to seeing our sector receiving the help and recognition it deserves.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-23096901943326005582013-10-08T12:39:00.001+01:002014-07-28T10:17:28.377+01:00Combatting Fraud with VCNs<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Conferma Virtual Card Numbers (VCNs) provide not only provide better control, process efficiencies and data to corporates, Travel Management Companies and technology partners, but also tanglible benefits to our financial partners - the banks and card schemes. You often hear that VCNs or Single Use Accounts (SUAs) can optimise payment processes thanks to automated reconciliation and tighter controls, however that's only one side of the story.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">In travel and expense (T&E), the norm is to lodge a single credit card against a company where the card is passed around the office and used for hundreds, if not thousands of bookings every month. The card numbers is circulated and stored everywhere: websites; faxes; memorised by individuals; they are even on Post-it notes stuck to travel agents' computer screens. Often the card has a high credit limit and can be charged by anyone. Sound susceptible to fraud? That's because it is.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">According to the Nilsen Report, card fraud in the US rose last year to a whopping $5.33bn. The US also acccounted for 47% of global card fraud. This is obviously of grave concern to US-based card issuers who are committed to working together to implement EMV (Chip and PIN) in the not too distant future. EMV has been an unboubted success in parts of Europe, where some countries boast a merchant adoption rate of greater than 95%, according to EMVCo. The European Central Bank has seen a reduction in card fraud by 7.6% in the Eurozone, whislt overall card usage continues to climb.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Security and control is integral to reducing card fraud and we fully support the rollout of EMV, ensuring a reduction in the cost of banking. However, the downside is the upfront investment required to implement EMV, which is neither simple nor cheap. Before you even reach market, consider the cost of card issuer scoping, nationwide card rollout schemes, merchant adoption, consumer education and PDQ equipment. There is no quick fix. Moreover, EMV is irrelevant in a Cardholder Not Present (CNP) environment such as e-commerce. In the United Kingdom, 63% of card fraud occcurs in a CNP environment according to Financial Fraud Action (<a href="http://www.financialfraudaction.org.uk/Publications/#/20/zoomed">http://www.financialfraudaction.org.uk/Publications/#/20/zoomed</a>)</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">In B2B spend, VCNs or SUAs are a strong player in the reduction your fraud risk profile and do not require merchants to change their existing e-commerce practices. VCNs are generated for a specific purchase, allowing restrictions to be applied to the VCN such as the total amount, merchant category, validity dates when the card can be billed and the number of times the card can be charged. Access audit logs are also associated with VCNs to provide full transparency of who has spent what. Valid merchants can simply bill VCNs as a cardholder not present transaction using their standard POS terminal.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The reduction in card fraud enabled through the adoption of VCNs isn't simply calculated by the transaction amount. It's calculated through efficiencies gained thanks to fewer calls to the card issuer which saves time and money for both the corporate customer and the card issuer. A UK-based issuer that we work with has estimated their process efficiency to have improved by 90% since operating a virtual travel card program rather than a traditional single card payment.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Next time you think virtual cards, think beyond automated reconciliation and reduction of maverick corporate spend. Conferma's VCNs also provide reduced fraud risk profile and operational efficiencies for major financial institutions. </span><br />
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devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-77143629261386804892013-05-02T15:33:00.003+01:002013-05-02T15:33:39.861+01:00Embracing New Technology
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">You could argue that being averse to change is a
stereotypically British trait. There is always going to be reluctance,
reticence and even resistance when embracing not only a new supplier but also a
change of culture, especially amongst larger organisations, where existing
practices are so heavily embedded in that culture. <o:p></o:p></span><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Well, organisations don’t come much bigger or British
than the Government. Yet when HMRC appointed Redfern to manage their UK-based
travel with a clear mandate to progress the volume of online bookings from 50%
to 95%, here was no better indication of an organisation willing to embrace new
technologies to render processes more cost-efficient.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Indeed, with the ink on the contract barely dry, Redfern
had already increased the number of online bookings from 50% to 95% within a
month, 11 months ahead of schedule. In some departments this figure was over
98%. All equating to an estimated saving of £140,000 per year for HMRC and
consequently the taxpayer. Current projections suggest that HMRC will achieve
an estimated £3 million in savings across accommodation spend this year, and
savings of over £20 million over the length of the four year contract. This is
an improvement of 70% compared to previous costs.* <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">So how exactly did Redfern effect this saving?
‘Integrating technology from multiple suppliers’ was cited as one of, if not <i style="mso-bidi-font-style: normal;">the </i>main catalyst. Conferma was one such
supplier, providing the comprehensive hotel inventory at Redfern’s disposal in
tRIPS via our Booking API, which has been integral to HMRC maximising savings
across their accommodation requirements. However it is our Virtual Card Number
(VCN) technology, available through our Payment API that has delivered tangible
savings for the settlement of hotel transactions.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">At Conferma we pride ourselves on being revolutionary. We
have set the new standard in payments technology without compromising on the
usual benefits that people have come to expect from us, not least the highest
standard of payment security. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Our automated solutions mean that the payment process not
only becomes touchless for the TMCs but also has minimal impact on their
existing workflows and procedures, negating any effect felt by the change of
culture I mentioned earlier. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">This increased efficiency has allowed Redfern to quadruple
their turnover and manage eight times more transactions than others in the
sector. Yet the number of staff has only increased twofold to cope with this
increased volume. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">At Conferma, it’s not the change to working cultures that
is revolutionary or radical, it’s the end result. The savings made by the
British Government are testament to this. So if you’re hesitating over
embracing new payments technology, look no further than the new standard:<span style="mso-spacerun: yes;"> </span>Conferma.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">*Figures taken from the article <i style="mso-bidi-font-style: normal;">How Redfern Travel smashed targets by making online booking simple</i>
from <i style="mso-bidi-font-style: normal;">Travolution</i>, 17 April 2013<o:p></o:p></span></div>
devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-54610431506333099722013-01-09T11:29:00.000+00:002013-01-09T16:23:31.604+00:00Corporate Travel: 2013 in figures<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">I would like to begin this blog by wishing all our
partners, customers and blog readers a Happy New Year on behalf of everyone at
Conferma. <o:p></o:p></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">The turn of the year marks an opportunity to reflect on
another successful year for Conferma and in particular the trends emerging in
corporate travel. 2012 saw us extend our virtual card technology into the US
for the first time, and it is a study from the other side of the Atlantic that I’ve
chosen to look at, in the form of PhoCusWright’s U.S. Corporate Travel Report.<o:p></o:p></span><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">In 2012 there was over $100bn of corporate travel booked
in the US. That’s a mere £62.1bn. Or €76.3bn. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Since gross bookings fell 26% during the recession in
2009, the corporate travel industry has been revitalised; figures have now
surpassed pre-recession levels. That’s in stark contrast to other sectors who
continue to suffer from the economic downturn. Business travel now represents
33% of the total travel market share, with the remainder accounted for by
leisure travel and unmanaged business travel; a ratio that is edging gradually
closer to 50:50. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Respondents to the survey cited ‘increased cost savings,
enhanced spend under management and increased use of online corporate booking
tools’ as their top three strategic priorities for 2013, whilst the top
technology priority was the ‘automated capture of travel expense.' At Conferma,
our innovative settlement and reconciliation products are fully automated to
ensure our TMC and banking partners can reduce their administrative and
operational costs significantly. Similarly, our state of the art virtual card
technology enhances spend visibility and provides corporate clients greater
control of variables such as credit limits, payment card validity dates and
even the merchant category code. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">The study hints at an ‘online penetration.’ Not something
you’d want to Google. No, it refers to the increasing tendency to book travel
online. This was one of the few metrics that did not decrease during the
recession, instead hovering at around 50%. By 2013, 56% of gross travel
bookings are now booked online. Early indications in January suggest Conferma
is on course to record unprecedented levels of bookings made via Hotel Booker,
our corporate hotel booking tool, whilst our virtual payment solutions are
embedded in some of the world’s largest online booking platforms. Our virtual
cards cover hotel, air and car rental, which were voted as the three largest
areas of corporate travel expense. Indeed, air and hotel bookings account for
more than 70% of corporate travel dollars spent.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">96% of travel buyers indicated that their companies now
use one or more online booking tools. The primary reason? You guessed it; cost.
Corporates cited online booking platforms as the least expensive booking
method, whilst also ‘facilitating integration with automated expense
processing.’<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">I’ve already mentioned the corporate desire to automate capture
and visibility of spend. The report revealed that miscellaneous expense now
represents 21% of all corporate travel expense. Hotel extras, meals, excess
baggage. In our experience, this significant chunk of ancillary spend is often
unaccounted for, ultimately costing money and leaving companies’ spend policies
susceptible to employee initiated fraud and misuse. Our fully automated
solutions allow travel managers to rein in ‘rogue’ purchases, whilst rendering
the data reconciliation process far more time and cost-efficient than chasing
invoices from hoteliers and manually collating receipts. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">A quick word on our TMC partners. We continue to value
our partnership with some of the industry leaders in travel management, especially
in light of the fact that intermediaries now handle more than 75% of all
corporate travel bookings. The dominance of intermediaries is particularly
pronounced in the online corporate arena, where TMCs rely increasingly on the
use of online booking tools and payment methods to further reduce costs.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Your list of New Year’s resolutions may be populated by
the usual suspects. However if 2012 is anything to go by, make sure you place
automated, virtual card technology for settling and reconciling travel expense
at the top of your list. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 8pt; line-height: 115%;">*All figures from PhoCusWright’s <i style="mso-bidi-font-style: normal;">U.S. Corporate Travel Report: Market Size and Technology Trends</i></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;"><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com2tag:blogger.com,1999:blog-1131773770214070260.post-68436503875615266832012-12-18T10:50:00.001+00:002012-12-20T08:57:00.616+00:00Next Generation Lodge <span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"><span style="font-family: Times New Roman;">
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"><span style="font-family: Times New Roman;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Lodge or ghost card programs have been synonymous with
corporate T and E settlement for over 30 years. With the IATA number serving as
a unique identifier for ease of reconciliation, the lodge cards are especially
well established and embedded in the settlement of scheduled airline tickets. <o:p></o:p></span></span></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"><span style="font-family: Times New Roman;">
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</span></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"><span style="font-family: Times New Roman;"></span></span><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">However it is a product that has also been static for
many years, with limitations that inhibit its use across the full spectrum of
corporate travel.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Heavily dependent on exterior data flows, the transportation
of files is a process that is highly susceptible to error. It is difficult to
standardise file deliveries across geographies as different organisations have
different file creation capabilities and processes.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Lodge cards inherently lack rigid controls on manually
collating disparate sources of information to produce a reconciled view. Therefore
the industry standard matching rates hover around approximately 95-98%
accuracy. You may think that this sounds a satisfactory matching rate. However,
the outstanding 2-5% of unmatched data is highly costly and inefficient for the
corporate. Consequently banks don’t value it and therefore don’t search for
innovative resolutions.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Corporate travel settlement is changing. Using a virtual
card, with its PAN serving as a unique reference number, guarantees 100%
matching rates to eradicate the cost and time lost to the unmatched data that
we mentioned earlier. With nearly real time data flows, virtual card data is
managed within the booking process in the GDS, and can be processed in monthly
or periodic batch processes. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Not reliant on the creation and transmission of exterior
data, the systematic reconciliation means human intervention is not required,
eradicating the risk of human error involved with lodge cards. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">However the virtual card’s most valuable attribute is its
applications across all areas of travel spend. Not just air, but also hotels,
rail, car hire and all other areas of online spend. <o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Commercial benefit:<o:p></o:p></span></div>
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<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Applies lodge card controls across areas of
incremental spend<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Enables significant increase in billings
without additional operational costs<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Enhanced security:<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Order and authorisation data captured prior
to secure payment is deployed<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Creates a secure PCI-DSS compliant Passenger
Financial Record (PFR) for each transaction<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Increased controls:<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Control of variables such as amount, validity
and merchant category<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Enhances workflow and enables real time
refunds and amendments<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Flexibility:<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Single process applicable to multiple content
sources, not just IATA air<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Allows secure deployment of CVV2 number<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<span style="font-family: Symbol; font-size: 10pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Reconciliation:<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Unique PFR applied to each transaction<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 10pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
<span style="font-family: "Courier New"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: "Courier New";"><span style="mso-list: Ignore;">o<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Need for manual/additional reconciliation
process eliminated<o:p></o:p></span></div>
<br />
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;"><div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 10pt 72pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18pt;">
</div>
<span style="font-family: Times New Roman;">
</span></span><br />devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-83687132580710472062012-11-23T16:55:00.000+00:002012-11-29T14:06:42.950+00:00Why Single Use Accounts are revolutionising Accounts Payable<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">For businesses seeking to reduce costs and improve
operational efficiencies (i.e. all businesses), one of the simplest routes is
to move away from cheques and cash towards electronic payments. Progressive
organisations attracted by additional rebates have sought to further extend
their electronic payments program by using Lodge (ghost) cards and PCards.<span style="mso-spacerun: yes;"> </span>For these businesses there is now another
tool in the box – Single Use Accounts (SUAs), otherwise known as Virtual Card
Accounts.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Single Use Accounts are the latest advancements in
payables technology; they enable organisations to migrate traditional Travel
and B2B payments, even those to strategic suppliers, onto virtual cards. Using SUAs,
organisations get closer to the promised land of accounts payable departments
operating as revenue generators, as opposed to cost centres.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">While PCards and Lodge cards have driven benefits, they
have not been without their challenges. First and foremost is consistency and
acceptance, or rather lack thereof. Getting all suppliers to participate in a
PCard program or feed aggregated data back to a lodge card has proven
difficult. Some suppliers embrace the program. Some don’t. Furthermore,
anxieties surrounding spend controls and reconciliation accuracy have resulted
in these initiatives not delivering the widespread adoption that all parties
had been promised.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Conferma’s SUA solutions have overcome the challenges
that have proven intractable for Lodge cards and PCard programs.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Acceptance.
<span style="mso-spacerun: yes;"> </span></span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">This is one of the real strengths
for SUA programmes; essentially there is no change in acceptance processes for
suppliers.<span style="mso-spacerun: yes;"> </span>For the supplier the SUA is
just a credit card number like any other. They treat it as a card holder not
present transaction – business as usual! Not to mention ideal for online
procurement.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Control.
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">SUA
technology allows you to apply controls to the virtual card, including a fixed
credit limit, merchant category code restrictions and even the payment card
validity dates. In stark contrast to physical Lodge or PCards, SUAs provide
complete control over how, where, when and in what quantities your employees
are using company expenditure in line with corporate policy.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Flexibility.
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Despite
offering control, SUAs can also provide flexibility through approval processes.
SUA numbers are generated ‘on the fly’ and can therefore be tailor made to the
required purchase. For example, if an employee wishes to purchase a product
that is over their credit limit, yet is deemed to be of benefit to the company,
they can request approval from a line manager to exceed their spend limit. The
virtual card then captures the reason for approval (or rejection), providing
accounts departments with complete visibility of the surplus spend. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Security.
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Lodge
cards and PCards are susceptible to fraudulent transactions through loss or
theft, by virtue of their physicality. SUAs, whose unique PANs are applicable
to one time only transactions, are virtually (pun not intended) impervious to
fraud or employee misuse.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Reconciliation.
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">The
Conferma SUA process will not generate the virtual card until the procurement
data, in the form of a booking or purchase reference, has been received and
quality controlled; therefore reconciliation is entirely automated upfront, as
opposed to post transaction like Lodge cards.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Card-holder not present. Controls. Security. Time and cost
efficiency. Data accuracy. These are just some of the reasons why paying
suppliers with Single Use Accounts is revolutionising the accounts payable
process.<o:p></o:p></span></div>
devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-20304678765399409072012-07-10T12:38:00.001+01:002012-07-10T12:38:39.761+01:0060 years of payment evolution<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Last month, as a British nation we gathered along the
banks of the Thames, at Buckingham Palace or even in our own streets to
celebrate the 60 year reign of Her Majesty The Queen. Revelling in Union Jack
bunting, the Pageant and Gary Barlow, the furthest thought from our minds was
probably how we were spending our money at our respective events. Chip and
PINs. ‘Wave-and-Pay’ debit cards. Contactless, smart phone payments. As we paid
tribute to the Queen, we also subconsciously saluted the latest developments in
payment technology.<span style="mso-spacerun: yes;"> </span>However it is the
image of Queen Elizabeth herself on traditional bank notes that reminds us of
how much payment mechanisms have evolved since her accession to the throne.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Since the Queen became the first monarch to feature on
British banknotes in 1960, payments worldwide have changed beyond recognition. Banknotes
featuring the wording “I promise to pay the bearer the sum of the note on
demand” are still in circulation of course. However, whereas one once sent cash
or a cheque in the post for someone’s birthday, a parent will now send money to
a child at university using online banking or even a smart phone app, such as
Barclays Pingit. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Visa, in collaboration with Samsung, both official London
2012 partners, have pioneered PoS contactless mobile payments, with the launch
of payWave. To buy a round of beers at an Olympic venue, users simply hold
their phone in front of a contactless reader at the point of purchase. As an
added layer of security, transactions over £15 require a passcode. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Merely checking your balance or recent transactions used
to involve a trip to the bank to print off a receipt. Now it’s attainable at
the touch of a button.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">1966 is synonymous with a unique sporting success in this
country. However it also marked a first of a different kind – the credit card. By
2008, 30.8 million people in the UK were credit card holders and used them to
make 1.9 billion purchases that year. It is amazing to think that the first
debit card was introduced as recently as 1987, the year in which construction
of the Channel Tunnel began. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">In today’s Britain, that payments are contactless,
instant and effortless is a given. That’s nothing new or innovative any more.
So where are the new trends and evolutions coming from?<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">In the same way that banks have made payment mechanisms
touch-free, the next evolution involves transforming methods from the physical
to the virtual domain. Virtual card technology enables closed-loop payments,
which in turn offer greater security and control for corporates. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">At Conferma, we implement single use virtual cards into procurement
processes. Single use payment systems are, by their very nature, scalable and
customisable, allowing multiple cards to be used and multiple transactions to
be processed. Conferma’s unique accounts ensure that, no matter how great the
volume of transactions, the process of reconciling transactions with the
procurement order is accurate and efficient.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">With the advent of smart phones, tablets and now virtual
card technology, as payment technology and innovation accelerates we will only
have to wait 60 months for cardless payments, rather than another 60 years. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
</div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-35394207781441852402012-06-08T17:06:00.000+01:002012-06-08T17:09:51.909+01:00Payment security. We do the hard work so you don't have to.<span style="font-family: Times New Roman; font-size: small;"></span><br />
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">It may be a cheesy advertising slogan for a kitchen detergent,
however the sentiment remains exactly the same at Conferma. We take payment
security extremely seriously so that our partners and customers worry less. But
what exactly does ‘payment security’ entail?<o:p></o:p></span><br />
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">PCI and DSS. POS and SSC. PANs and PINs. The PCI, or Payment
Card Industry, is filled with acronyms and abbreviations.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">The Payment Card Industry is also filled with several
DSS, or Data Security Standards, with which all serious participants in the
financial service sector must comply. Being PCI Level 1 compliant involves
satisfying several stringent system and network security requirements,
continuous monitoring and a rigorous security policy.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">All sensitive payment card details are encrypted and
secured by Conferma to eliminate the handling, processing and storage of credit
card data for customers. Essentially, PCI compliance ensures that all Conferma
transactions are inherently secure and ensures peace of mind for all our
partners and customers.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">This week’s news that millions of LinkedIn passwords had
been compromised merely serves as a reminder of the importance of security,
vigilance and good practice.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Payment security has always been greatly prized and standard
practice here at Conferma. It is inherent in everything we do – security
training is conducted for all staff and all hardware is encrypted. The highest
level of payment security commercially available merely serves as official recognition
of our continuous commitment to security for all our virtual payment solutions.
</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">PCI accreditation is also representative of the ROI in
terms of the significant time and finance devoted to the project, the single
biggest project undertaken at Conferma. OMG, as you might say in an SMS…<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-39193284953607708652012-03-19T16:14:00.001+00:002012-03-19T16:14:40.658+00:0010 reasons why you should embrace new payment technologies<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">In the previous blog we explored the renaissance of
centralised travel settlement. February was dominated by a spate of new payment
solutions for the business travel industry. This can only mean one thing: greater
emphasis is being placed on more efficient payment mechanisms.<o:p></o:p></span><br />
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Virtual cards. Single use accounts. One-time-only
transactions. Call them what you like, at Conferma, we firmly believe that
virtual card technology and electronic invoicing represent the future of
business travel settlement. Not only as a billback solution for the hotel
industry, but also as a wider payment mechanism for corporate travel. We look
at ten reasons why you should embrace virtual card technology.</span></div>
<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Volume
and Scale: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Customisable and scalable, virtual card
accounts are capable of handling greater volumes of transactions on a global
scale, managing a broad, disaggregated supplier base.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Security:
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Single
use accounts are transaction-specific, virtually (no pun intended) eliminating
the fraud risk associated with issuing physical plastic.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Apply
controls: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Virtual card technology enables corporates to apply
controls on accounts such as credit limit, date range and merchant category,
ensuring compliance with corporate travel management policies.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Improved
supplier relations: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Virtual cards guarantee payments, removing
credit exposure for suppliers, especially hotels, who typically have to wait
30-60 days to receive payment. Significantly quicker payments also improve
TMC-supplier relationships.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Convenience:
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Single
use accounts involve minimal or no change to existing workflows, ensuring ease
of adoption by suppliers and their front line staff.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">6.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Automated
reconciliation: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">The automated reconciliation process matches
transactional data with booking data, providing corporates with a comprehensive
view of expenditure.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">7.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Efficiency:
</span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Electronic
invoicing is estimated to be three times more efficient than the billback
process, allowing TMCs to redeploy personnel to other areas of the business.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">8.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Low
cost: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Automated processes are not only ecological (reduced
paper burden) and less labour-intensive, but also drive greater volumes of
bookings at significantly lower operating costs.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">9.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Rich
data: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Virtual cards allow you to append any kind and any amount
of data to the financial transactions that they settle, providing you with real
value in terms of the reports that you receive on travel expense.<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 10pt 36pt; mso-list: l0 level1 lfo1; text-indent: -18pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">10.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Mobile Solutions: </span></b><span style="font-family: "Arial","sans-serif"; font-size: 10pt; line-height: 115%;">Single
use accounts lend themselves perfectly to today’s technological advancements.
Armed with just a mobile device and a virtual account number, TMCs and
corporate customers alike can book, pay for and settle transactions on the
move.<o:p></o:p></span></div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-12290986411610946082012-02-03T13:51:00.005+00:002012-02-03T13:53:22.738+00:00The Renaissance of Centralised Travel Settlement<span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">You are
sending an employee on business travel. You want to monitor closely where, how
and in what quantities they are spending company money. <o:p></o:p></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;"></span></span><br />
<span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">Does your
company issue employees with individual corporate cards? Or maybe your TMC manages
the payments for you. You may even reimburse your employees after they have
paid for travel expense themselves. All methods have their pros and cons. None
offer a stand-out solution.</span></span><br />
<br /><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">Since the
advent of individual travel card programs, central travel (lodge) accounts appeared
to have become more and more redundant. Corporates entrusted employees with
corporate travel cards, armed with enhanced spend controls, greater visibility
of spend and a reduced administrative paper burden.<o:p></o:p></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">However,
there are numerous impracticalities of issuing plastic. Say, for instance, you
have temporary contract workers. Or permanent staff who travel infrequently.
Essentially every piece of plastic you issue is opening your company up to
greater administration costs and risk.<o:p></o:p></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">Yet, the
consequences of not using a card product render them almost indispensable.
Monitoring ancillary spend becomes a nightmare, whilst the paper trail involved
in billback is highly susceptible to human error and dramatically reduces
efficiency when it comes to the administration and invoicing process.<o:p></o:p></span></span></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">At Conferma,
we believe in the development of single use accounts incorporating state of the
art virtual card technology. Our Conferma Settlement Platform (CSP) creates a
virtual card at the time of booking, which is automatically communicated to the
travel supplier to guarantee a reservation. <o:p></o:p></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">An
increasingly unstable market has seen certain TMCs experience cash flow
problems in recent weeks, subsequently putting a strain on relationships with
suppliers. Central virtual card accounts ensure faster payments to remove any
credit exposure and enhance supplier relations for TMCs.<o:p></o:p></span></span></div>
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">Working with
our international network of major banking and distribution partners, Conferma
provides access to a truly global and centralised settlement platform that
slots seamlessly into a TMC’s existing infrastructure, to deliver a highly
efficient and cost-effective solution not only for international TMCs but also
for corporates abroad who manage travel in-house. <o:p></o:p></span></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">
</span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: Calibri;"><span style="line-height: 115%;"><span style="font-family: Arial, Helvetica, sans-serif;">So much for
the death of centralised travel settlements.</span> </span><b style="mso-bidi-font-weight: normal;"><span style="line-height: 115%;"><span style="mso-spacerun: yes;"> </span></span></b><span style="font-size: 12pt; line-height: 115%;"><o:p></o:p></span></span></div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-12471719389034197892012-01-23T16:59:00.002+00:002012-01-30T17:04:20.295+00:00Conferma releases results of Customer Survey<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Conferma has
published the results of its recent customer survey.<o:p></o:p></span></div>
<span style="font-family: "Arial","sans-serif";">The survey
was distributed via email to all travel agents on Conferma’s emergency contact
list. The survey was completed by our database of frontline staff in the corporate hotel booking world. <o:p></o:p></span><br />
<br />
<span style="font-family: "Arial","sans-serif";">Following the
previous customer survey conducted in March 2011, Conferma set out to gauge
customer perception with the performance of the Support service and the online
booking tool, Hotel Booker.<o:p></o:p></span><br />
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Customer
perception of Conferma Support was extremely positive, with satisfaction
ratings exceeding 95% for availability, resolutions and knowledge. This
compared favourably with results from the previous survey, with the number of
negative responses reduced in each category. In the remaining category, 94% of
respondents indicated that the response time of Support either met or exceeded
expectations. Indeed, Support was widely praised, with several positive
comments, such as: “Always available when help is needed” and “Always have a
quick reply.”</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">As ever, the
aim of a customer survey is to identify any areas for improvement. Negative
responses for availability could be attributed to customers contacting Conferma
outside of office hours. Conferma is currently dedicated to providing a support
service to handle and enquiries from Monday to Friday 8.30am – 6.00pm,
excluding public holidays. Service Management are currently investigating the
possibility of extending Support’s hours of availability.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Some comments
suggested that the communication of resolutions could be improved. Service
Management is contemplating implementing a more sophisticated method of
recording all internal communications to ensure that communication between
Support and Development is monitored regularly and thoroughly.<o:p></o:p></span></div>
<span style="font-family: "Arial","sans-serif";">Finally, some
respondents indicated that they had never contacted Conferma Support or were
unaware of the email address. Contact details are prominently displayed on <a href="http://www.conferma.com/"><span style="color: blue;">www.conferma.com</span></a> and are present on all
promotional literature. However, to raise further awareness, Conferma is
currently making a concerted effort to disseminate contact details for Support
as widely as possible. Conferma Support can be contacted by email at <a href="mailto:support@conferma.com"><span style="color: blue;">support@conferma.com</span></a> or by telephone on
+44 (0)844 815 3601.<o:p></o:p></span><br />
<br />
<span style="font-family: "Arial","sans-serif";">The results
of the survey also reflected extremely favourably upon Hotel Booker. The
layout, user-experience and responsiveness were widely lauded, achieving 100%
satisfaction ratings, whilst customer satisfaction with the ease of use and
reliability exceeded 96%. Praise for Hotel Booker’s layout and user experience
was particularly welcome, as it justified the measures taken by the Development
Team to improve the booking tool’s performance over the previous 12 months.
Positive comments included: “I think Hotel Booker is an excellent tool, very
easy to use and straightforward.”</span><br />
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">The 100%
satisfaction rating for responsiveness was also particularly pleasing as
Development has invested significant time and resources implementing the latest
.net technology and introduced considerable performance enhancing software,
ensuring the infrastructure supporting the v4.3 solution is the best available
in the industry. Investment in innovation and the latest technology reflect
Conferma’s commitment to provide leading solutions for our technology. This
superb feedback unequivocally indicates that this investment was completely
justified.<o:p></o:p></span></div>
<span style="font-family: "Arial","sans-serif";">With regard
to respondents’ suggested improvements, nearly half of all suggestions called
for more search criteria in Hotel Booker. Conferma is looking into incorporating
searches according to hotel facilities, landmarks and GDS reference codes into
future releases of Hotel Booker. However, these data issues would require
significant development and would therefore not be available until the latter
half of 2012 at the very earliest.<o:p></o:p></span><br />
<br /><span style="font-family: "Arial","sans-serif";">Other
suggestions pertained to group bookings, payment restrictions and improving
Agency Admin functionality. Conferma aims to introduce some of these changes
for the next release of Hotel Booker (v4.4) in mid-February.<o:p></o:p></span><br />
<br /><span style="font-family: "Arial","sans-serif";">The final
question of the survey concerned alternative Self-Booking Tools and returned
extremely positive feedback for Conferma, with 30% of respondents revealing
that they use Hotel Booker exclusively.<o:p></o:p></span><br />
<br /><span style="font-family: "Arial","sans-serif";">Conferma’s
next Customer Satisfaction Survey is scheduled for June 2012. Watch this space
for further development! <o:p></o:p></span>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-57259509706737620722012-01-19T15:12:00.001+00:002012-01-23T15:44:37.547+00:002012: A big year for UK hotels<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"><span style="font-family: Times New Roman;">
</span></span></span></span><br />
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">On behalf of
everyone at Conferma, I would like to begin this blog entry by wishing all our
customers and partners a very happy, healthy and prosperous New Year.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">As Conferma’s
booking volumes increase around the world, 2012 will present particular issues,
challenges and opportunities for the T&E sector in the UK. With the advent
of London 2012 and Her Majesty’s Diamond Jubilee, London is preparing to
welcome athletes, visitors, media, sponsors and dignitaries from across the
globe. Therefore, as global focus centres not only on the capital, but also
other British cities and regions, 2012 will have considerable implications for
the T&E sector.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Given the
significance, interest and prestige surrounding London 2012 and the Jubilee
celebrations, the temptation for TMCs will be to centre their focus on the
capital. However with events for both landmark occasions being staged in venues
across the country, TMCs will also need to reinforce their coverage in
alternate locations. Olympic event hosts outside the capital include Windsor,
Weymouth, Portland, Broxbourne, Benfleet, Wembley, Glasgow, Cardiff, Manchester
and Newcastle. Moreover, flagship annual events on the British calendar, including
the Edinburgh Festival, the British Grand Prix, the Open Championship and the
World Travel Market will ensure that the T&E sector cannot afford to take
its eye off business as usual amidst the furore of the Games and the Jubilee.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Furthermore,
the anticipated influx of international officials and tourists will inevitably
result in increased hotel prices. Indeed, rates currently stand at 30% higher
than average for June and July. TMCs will be required to demonstrate the
capability to process more and larger transactions than ever before. Large
visitor numbers and the mayhem that will inevitably ensue, particularly in
London, also mean that the importance of forward bookings and planning ahead
cannot be overemphasised. This ability to manage large volumes of bookings and
transactions will provide agencies the opportunity to demonstrate their value
to large corporate companies and become the TMC of choice. Indeed, hoteliers
are likely to give priority availability to TMCs with lucrative corporate
clients with the highest levels of expenditure, ancillary spend and bookings
for meeting space.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">This is where
TMCs can rely on Conferma’s platform of payment solutions to streamline their
business operations. The Conferma Settlement Platform (CSP) offers TMCs an automated
solution for the settlement and reconciliation of travel expense that removes
manual intervention, reduces processing costs and is PCI-DSS compliant. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Despite high
demand for hotel accommodation, hoteliers must guard against hiking their
prices too much, so as to avoid the scenarios experienced in Athens (2004) and
Vancouver (2010), when extortionate prices deterred visitors and resulted in
late availability and unsold rooms. Hotels must also be mindful not to neglect
service levels for their all year round business, whilst increasing expenditure
to satisfy their increase in new international guests. London hotels in
particular still need to cater for demand for annual events such as Royal
Ascot, Wimbledon, The Proms, Henley and the Farnborough Airshow, as well as the
Paralympic Games in September. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">With regard
to forward planning, TMCs must strike a fine balance when advising their
clients. Advocating early bookings secures availability but at high rates with
prohibitive booking conditions. On the other hand, later bookings leave clients
vulnerable to a lack of availability, but payment does not have to be made
months in advance of the Games. Alternatively, any business-critical staff may
need to be accommodated outside of London, for example in Saint Albans, Watford
and Reading, due to the impracticalities of commuting or being based in London
during the Games.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">As hotel
availability becomes increasingly sparse, TMCs and corporates alike will have
to look harder than usual to locate accommodation throughout the UK during the
Games. This search could be made easier by Conferma’s online Self Booking Tool.
Hotel Booker offers an inventory of more than 150,000 properties, including
direct connections to budget hotel chains Travelodge and Premier Inn, who have
both increased their presence in the capital ahead of the Olympics. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">Moreover, as
prices increase, merely locating accommodation will, in most cases, not
suffice. Thanks to Rate Analyser, Conferma’s intelligent hotel price comparison
tool, TMCs will be able to offer clients the best value rates available. Rate
Analyser also provides TMCs with rate trend data for all hotel bookings and
notifies users of any favourable rate changes, allowing time to rebook if
appropriate. This could become an increasingly attractive proposition if prices
drop to reflect last minute availability in the build-up to London 2012.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";">2012 holds
many challenges in store for the T&E sector. Yet many opportunities also
lie in prospect. I would like to conclude this blog by expressing Conferma’s
commitment to overcoming these challenges and seizing these opportunities in
collaboration with our existing partners, whilst expanding our portfolio to
work with new partners. <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"></span></span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-hansi-font-family: Calibri;"> <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<span style="font-family: Times New Roman;">
</span></span></span></span><span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"></span></span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"></span></span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"><div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span style="font-family: "Arial","sans-serif";"> <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<span style="font-family: Times New Roman;">
</span></span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></span>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com1tag:blogger.com,1999:blog-1131773770214070260.post-38787939686198350922011-12-06T13:55:00.001+00:002011-12-06T13:58:36.214+00:00Reducing Credit RiskThe eurozone debt crisis. Global recession. Bailout funds. Public sector strikes. Rarely has the economic outlook been so bleak.<br />
<br />
Amid the backdrop of a challenging economic and geopolitical environment and the relapse into a second successive recession in as many years, businesses worldwide are becoming increasingly vulnerable to the dangers of credit risk.<br />
<br />
Furthermore, with the festive period imminent and the accompanying lull in business, it is inevitable that numerous companies will experience short-term cash flow problems. As a result, payments to suppliers are delayed, who in turn suffer from credit exposure and take longer to pay their own bills. This creates a domino effect that cascades its way throughout supplier and customer networks.<br />
<br />
The business travel sector is no different. In fact, credit risk becomes an even greater problem because of the fine margins to which many in the industry work. As recently as last week, <a href="http://www.thomascook.com/">Thomas Cook</a>, one of the most iconic British brands in the travel sector, <a href="http://www.bbc.co.uk/news/business-15896503">secured a £200m loan</a> to enable it to survive the winter lull in business.<br />
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TMCs. OTAs. Hotels. Everyone is vulnerable to credit risk. For instance, hotels typically have to wait 30-60 days to receive payments in traditional billback agreements. Depending on their business model, payments to suppliers are then synchronised accordingly. However, a single default on payments in the supply chain affects everyone.<br />
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Therefore, in such challenging economic times, companies that become synonymous with prompt payments become increasingly attractive to do business with. This is where Conferma’s products, based on virtual card technology, offer many benefits for banks, corporates and the business travel community. With the <a href="http://www.conferma.com/Products/CSP/">Conferma Settlement Platform</a> (CSP), TMCs can hold the credit on a virtual card account or, better still, have their corporate customers open a virtual card account, thus removing their own credit exposure. Conferma’s automated settlement and reconciliation solutions not only significantly reduce the risk of fraud, but also guarantee immediate payment to the supplier in order to remove any credit exposure.<br />
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For TMCs, assigning the credit risk to the corporate customer also opens up further opportunities for your business. Perhaps most importantly, if a client does experience problems, you will only be exposed to the loss of the transaction fee, as opposed to the full amount of the booking. However, you could also charge your transaction fee to the virtual card, ensuring that you receive payments quicker.<br />
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As an independent third-party settlement solution, Conferma represents the best option because it currently partners with some of the world’s largest banks. Furthermore, with an extensive network of content providers at our disposal, the Conferma Platform provides a single point of connection to the banking world and the travel community.<br />
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In the current economic climate, the Conferma Platform not only guarantees punctual payments to ensure customer satisfaction, but does so securely, efficiently and with reduced processing costs, allowing your business to weather the stormy winter period ahead.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-51864506199533263452011-11-24T11:01:00.001+00:002011-11-24T11:14:22.446+00:00Content is KingOver the past few years we've seen a huge rise in the meta search engines, such as <a href="http://www.kayak.com/">Kayak</a>, <a href="http://www.skyscanner.net/">SkyScanner</a>, <a href="http://www.bing.com/travel/">Farecast</a> (now part of Microsoft Bing). These meta search engines crawl the web on your behalf to understand, read and record the information that varied online travel agencies (OTA) are publishing. These services give users the ability to enter search requests and in response receive an abundance of pricing from across the web. In seconds offers from <a href="http://www.ebookers.com/">ebookers</a>, <a href="http://www.expedia.com/">Expedia</a>, <a href="http://www.opodo.com/">Opodo</a> and many more are returned. Users simply select the deal that's appealing, click a link and they are instantly transported to the OTA for payment.<br />
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Like meta search engines, the business travel community want a single view of inventory at a hotel, across all major booking channels to view the best deal and then book it. For all the power Hoteliers are given for yield and channel management, consumers are trying their best to beat the system for the lowest rate, wherever it is. <br />
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In business travel the biggest prize was <em>how many hotels you had in your database</em>, then <em>how many can be booked online</em> and finally <em>how many of those are duplicates</em>... No longer is the case. Content within business travel is about the quality of the product the OTA, GDS, Merchant or Direct Connect is providing. Questions are raised on; how long does it take to book, payment terms, commission, how much back-end resource is required, what key locations are covered for specific suppliers.<br />
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Over the past couple of years we have seen growth in the request for consumer OTAs to be included within the <a href="http://www.conferma.com/Conferma-Network/Solutions/Hotel-Booker-Professional/">Conferma Booking Platform</a>. Many OTAs offer affiliate schemes for agencies to join, with a major benefit of receiving commission from one supplier, the OTA, not through chasing each hotel.<br />
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The Conferma Booking Platform connects to all major GDS, multiple Direct Connects, OTAs and Merchants plus support for Offline and Allocation content. Agencies have the power to pick and choose what content they would like made available and hold their own agreements with the Content Providers. The Conferma Booking Platform is built on an architecture that allows us to easily add new content without having to make a single code change to our booking tool (in the majority of cases new providers can be implemented in six weeks).<br />
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Trends in the consumer travel sector steer the future of business travel, and at Conferma we’re positioned to react quickly.<br />
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Ps. 160'000 unique hotels (130'000 online (and no duplicates))devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-46871584298404097062011-11-21T12:03:00.001+00:002011-11-21T12:03:37.112+00:00The importance of choice<br />The recent news that International Airlines Group (IAG) are in negotiations with Lufthansa to acquire British Midland (BMI) has raised concerns in the aviation community. The acquisition of BMI would see IAG, who already own British Airways and Iberia, increase its share of landing slots at Heathrow, the UK’s busiest airport, rise from 45% to 54%.<br />
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The Leicestershire based carrier has reported losses of 154m euros (£133m; $213) for the first nine months of 2011, citing rising fuel costs and social unrest in some of its destinations in North Africa and the Middle East as reasons.<br />
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Amid growing concerns that IAG are monopolising Heathrow, Virgin Atlantic, who have tabled a rival bid to acquire the loss-making carrier, have described the prospect of an IAG takeover as "disastrous for consumer choice and competition". <br />
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Consumer choice is one of the fundamental aspects that Conferma, expert providers of settlement and reconciliation solutions to the Travel and Expenses (T&E) sector, values greatly. Providing access to multiple GDS and non-GDS content providers, Conferma prides itself on its vast and varied suite of content. Our award-winning Conferma Settlement Platform (CSP) can be seamlessly integrated into all systems, therefore we can partner with any card issuing bank or payments provider.<br />
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Conferma, who itself has recently expanded its own portfolio to offer payment solutions for low-cost carriers, is proud of its independence. Furthermore, Conferma’s neutrality endears it to an extensive network of travel and banking partners. This neutrality allows Conferma to maximise the number of potential opportunities in the business travel market and encourages competition amongst its partners.<br />
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Only time will tell if IAG's acquisition of BMI will deprive Heathrow of healthy competition and consumer choice.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-7161186006475691582011-10-25T12:13:00.001+01:002011-10-25T12:13:50.484+01:00Building A Platform For CommerceIn the early days of CSP, CSP stood for the Conferma Settlement <i>Plan</i> and our customers had only one card partner and one booking tool (ours) to access. Of course, this was only ever going to be beneficial for some customers and so we took a step change in the way we developed CSP. We began to build version 2, the Conferma Settlement <u>Platform</u>. A Platform that would facilitate the same founding features of CSP but on an open network for any booking or desktop tool to connect to any card issuer they want.
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The effort the team has put into the platform over the past few years is demonstrating how our open network is coming together. CSP is being used to pay for more travel via more booking channels, where customers are based in more countries with an ever expanding supplier base.
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Today, with an ever expanding CSP network you can;
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<ul>
<li>Use a booking or desktop tool of your choice (XML integration)</li>
<li>Use Hotel Booker with over 12 content providers</li>
<li>Use Conferma Low cost air tool</li>
<li>Use Conferma WebPay to place cards into any website or desktop system</li>
<li>Use our Batch Interface for bulk card deployments</li>
<li>Seamlessly access (and switch between) cards from all of our major card issuing banks</li>
<li>Settlement is being performed in multiple currencies</li>
<li>Access powerful data hands offs for your system</li>
</ul>
At the start of the month we implemented our latest card partner, HSBC. The speed and professionalism of the implementation into a major partner, such as HSBC, shows the strength and capability of the team here at Conferma.
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The choice of booking tool and card issuer is up to you, as it should be. Like never before we’re making it easier to be part of the network. <a href="mailto:enquiries@conferma.com"><i>Contact us for more information</i></a>.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-72078348722224153862011-09-22T16:17:00.007+01:002011-09-22T17:06:57.864+01:00New Office<div>
<a href="http://1.bp.blogspot.com/-w40ukX7klw4/TntT3SpyZQI/AAAAAAAAAA0/qPV7gJq4vB8/s1600/IMG_2373.JPG"></a><br />
<a href="http://4.bp.blogspot.com/-OHK73sf2UqQ/TntT3P9SrUI/AAAAAAAAAAs/3mLFFnYOCdY/s1600/IMG_2379.JPG" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5655205965735308610" src="http://4.bp.blogspot.com/-OHK73sf2UqQ/TntT3P9SrUI/AAAAAAAAAAs/3mLFFnYOCdY/s320/IMG_2379.JPG" style="float: left; height: 239px; margin: 0px 10px 10px 0px; width: 320px;" /></a>
<a href="http://1.bp.blogspot.com/-rkQJ2rCSXoY/TntT38csgKI/AAAAAAAAABM/FDgL4P3q2-E/s1600/IMG_2380.JPG" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5655205977678184610" src="http://1.bp.blogspot.com/-rkQJ2rCSXoY/TntT38csgKI/AAAAAAAAABM/FDgL4P3q2-E/s320/IMG_2380.JPG" style="float: left; height: 239px; margin: 0px 10px 10px 0px; width: 320px;" /></a><br />
<a href="http://2.bp.blogspot.com/-D1RVszbbbYM/TntT3hzeDHI/AAAAAAAAABE/j_eOB0bK8Y4/s1600/IMG_2375.JPG" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5655205970525949042" src="http://2.bp.blogspot.com/-D1RVszbbbYM/TntT3hzeDHI/AAAAAAAAABE/j_eOB0bK8Y4/s320/IMG_2375.JPG" style="float: left; height: 239px; margin: 0px 10px 10px 0px; width: 320px;" /></a><br />
<a href="http://3.bp.blogspot.com/-5Kek6cxrOME/TntT3XpAfEI/AAAAAAAAAA8/y7hdLStWnII/s1600/IMG_2377.JPG" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5655205967797713986" src="http://3.bp.blogspot.com/-5Kek6cxrOME/TntT3XpAfEI/AAAAAAAAAA8/y7hdLStWnII/s320/IMG_2377.JPG" style="float: left; height: 239px; margin: 0px 10px 10px 0px; width: 320px;" /></a><br />
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You may have noticed a lack of blog posts in the past couple of months, all I can say is it has been very busy here at Conferma! In the coming weeks we have a number of exciting announcements to make which will give you some insight into what we have been up to.<br />
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That said, I would like to announce we have successfully moved office! Whilst our previous offices were certainly different from the normal financial services HQ, we had simply grown too big for them. We have now moved into our very own bright building at Cheadle Royal Business Park, which has plenty of space for growth.<br />
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Overall the move was stress free with just a few technical hiccups with internet access from our offices and a rather frustrating incoming call issue, let’s just say you had to get your point made in ten minutes...<br />
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The move is a step change for Conferma, with a more corporate feel, but we have kept the fun and quirky environment we are known for. A big hit with the staff is the new break area where the full walls are white boards.<br />
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The new offices are a recognition to the staff, customers and partners that together we're doing something right. The new offices mark a point in Conferma's history and the continuation of an exciting journey that I hope you will all join us on.</div>
devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-50624324218596474782011-07-06T08:20:00.002+01:002011-07-06T08:31:28.027+01:00Conferma WebPay: The New Way to Pay<a href="http://3.bp.blogspot.com/-J9WZ45xuI-Y/ThQOwo-GORI/AAAAAAAAAAk/vhiHSu7WItY/s1600/imagesCA5SO6Y1.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 200px; FLOAT: left; HEIGHT: 200px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5626138063286974738" border="0" alt="" src="http://3.bp.blogspot.com/-J9WZ45xuI-Y/ThQOwo-GORI/AAAAAAAAAAk/vhiHSu7WItY/s320/imagesCA5SO6Y1.jpg" /></a><br /><br /><div><span style="font-family:arial;"><strong>In the corporate world, there is an opportunity to automate low to mid value, high volume transactions with new payment technologies. These traditional transactions represent what is called the ‘middle-ground’ of purchasing and they take a disproportionate amount of resources to process.<br /></strong><br />Research by *RPMG found the cost of processing paper-based purchase orders averaged $93 (US). However, making the same transaction with a single-use purchasing account cost $22. Further analysis revealed that purchasing cards can:<br />· reduce typical procurement cycles by approximately 12 days;<br />· reduce the number of suppliers managed by an average of 16%; and<br />· result in a reduction or redeployment of staff.<br />With these results, it is easy to see how new payment technologies are gaining traction in the corporate world.<br /><br />Conferma’s new payment technology, ‘WebPay’, automates the procure-to-pay process delivering real-time efficiencies to both procurement and accounts payable departments. This solution uses web based technology to introduce single-use credit cards into the purchasing process and capture enhanced levels of data.<br /><br />Unlike other payment solutions, WebPay is connected to Conferma’s network of financial partners giving its users a choice of card provider. This allows Conferma’s customers to select the best payment partner. With WebPay companies can retain cash longer, pay suppliers earlier, reduce man-power costs, drive compliance and cover new spend categories.<br /><br />WebPay can purchase anything online from paper to corporate travel all via one platform. Once the system is deployed, it can quickly be extended out into many purchasing categories. This allows companies to centralise their procurement. Many companies are now realising the power of having one platform, one investment, capable of managing this middle-ground of payment. WebPay can use any web-browser to access any website and complete a transaction.<br /><br />WebPay can standardise reporting data from a multitude of transactions by using the same accounts to purchase a variety of products. Therefore, the data reported back via WebPay is consistent and accurate. This standardised data can be handed-off into other ERP systems to create a powerful management tool capable of tracking payments.<br /><br />Conferma’s WebPay has a global capability and can be used to purchase goods and services online anywhere in the world. This gives corporate managers the ability to globally synchronise purchasing practises.<br /><br />This new solution levers all of Conferma’s expertise in the corporate payment sector into a single powerful platform.<br /><br />*RPMG - 2010 Purchasing Card Benchmark Survey Results - </span><a href="http://www.rpmgresearch.net/"><span style="font-family:arial;">http://www.rpmgresearch.net/</span></a><span style="font-family:arial;">.</span></div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-79866070372244733862011-05-24T12:41:00.004+01:002011-05-24T12:47:19.792+01:00Conferma: The virtual world of Conferma<a href="http://3.bp.blogspot.com/-SYCJIZUkLVA/TduaX2v-g5I/AAAAAAAAAAY/gySh3KuqlCk/s1600/Womans-hand-holds-a-credit-card-while-entering-data-in-laptop.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 214px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5610247495444497298" border="0" alt="" src="http://3.bp.blogspot.com/-SYCJIZUkLVA/TduaX2v-g5I/AAAAAAAAAAY/gySh3KuqlCk/s320/Womans-hand-holds-a-credit-card-while-entering-data-in-laptop.jpg" /></a><br /><br /><br /><div><br /><span style="font-family:arial;">It seems that every day a new technology appears on the horizon with new functions and capabilities. The ever excited media is all too keen to report that this new technology is going to revolutionise the way we live.<br /><br />Since the birth of the internet business has recognised its potential to create new markets and generate money. But, many early attempts at creating online businesses were restricted as the internet and its associated technologies were simply to slow – regardless of the potential. This led to the dot-com bubble as investors invested in projects that the technology couldn’t deliver.<br /><br />Perhaps the most notable example of this was Boo.com an online fashion retailer in the early-mid nineties. They stretched the technology too far and their resultant collapse was symptomatic of the dot-com bubble - plenty of potential but not enough technology. However, as the internet developed and its capability improved the world became ever more reliant on this new virtual world.<br /><br />Yet the emergence of one new piece of payment technology has gone largely unnoticed, virtual credit cards. Virtual credit cards operate in the same way as a normal card with the exception that no physical card is produced; they are issued dynamically for single purchasing events and are inherently secure.<br /><br />In the virtual world the virtual card is coming to the fore. Enabling transactions and helping to realise the potential that so many saw in those early dot-com start-ups. They are easier to use and manage whilst offering increased flexibility and peace of mind. Essentially, virtual cards unlock revenue and create the flows of money many predicted.<br /><br />Conferma has worked hard to build a network of financial partners capable of delivering virtual cards into the purchasing of corporate travel and expense (T&E). This growing network is; creating new efficiencies in existing purchasing processes, winning new business and creating new markets. Furthermore, Conferma’s settlement and reconciliation technology is superseding the traditional T&E billback process.<br /><br />Conferma call this solution CSP (Conferma Settlement Platform) and it is rapidly gaining recognition within the world of corporate T&E.<br /><br />Conferma and others within the payments industry have long recognised the potential of virtual cards. Conferma are using this technology to create new web-pay solutions that extend beyond corporate T&E into other B2B related purchasing categories. Anywhere, where there are; high-volume, mid-value transactions Conferma’s virtual cards can be deployed. Using Conferma’s technology does much more than traditional paper-based purchasing processes. It allows for data to be captured, processed and transmitted in a way that was not previously possible.<br /><br />Ultimately, Conferma’s virtual credit card technology will give freedom of choice and transaction security in the virtual world.<br /></span><br /><br /><br /><br /><br /></div>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-45935769428578264652011-05-04T16:10:00.001+01:002011-05-05T16:40:20.718+01:00Conferma: The I.T. Jungle<span style="font-family:arial;">Recent high profile cyber attacks and security breaches for companies such as Sony have again brought the issue of PCI compliance into sharp focus. The attack on Sony proves that even the most I.T. savvy company can fall victim to a cyber attack.<br /><br />For many industry commentators, Sony merely represents a growing list of companies who are victims of the I.T. jungle. Criminal gangs, terrorist organisations and hackers stalk companies looking for the slightest gap in security, a blind-spot, an open door or simple negligence. To then hack and steal personal and credit card data from unwary and ill-prepared companies.<br /><br />When we consider the business travel industry we can see that the risks are high, how many TMCs photocopy and fax card data around the world to hotels, exhibition centres and alike? Relying on the honesty of their staff and the person receiving the fax for security! Or even worse store card data within their own systems.<br /><br />Many TMCs and HBAs within the industry struggle to get to grips with PCI compliance and its implications. How much will it cost to implement? What do I need to do? Where do we begin? Achieving conformance is not simple and takes time to get right and maintain. So for small, medium and even large companies meeting the required standards can be problematic and expensive.<br /><br />Basically, PCI standards have twelve points of compliance categorised into six groups. This sounds simple enough but there are roughly two hundred and fifty controls to be put in place, depending on the level of security you require. And the level of protection required is determined by the number of credit card transactions processed each year. Each of the two hundred and fifty controls can be verified in up to four times and may require up to four pieces of evidence to prove you meet PCI standards.<br /><br />The costs of PCI accreditation for even a small TMC or HBA can run into thousands of pounds and for a large multi-national corporation it can be hundreds of thousands of pounds. However, doing nothing is not an option as MasterCard and Visa will fine breached companies for non-compliance. These fines reflect the scale and number of breaches and the size of the company. This ensures that conforming is the cheaper option.<br /><br />In 2009 MasterCard* published their fines for non-compliance and these are steep. Fines can reach two hundred thousand dollars (US) for failing to meet the required standards with a charge of between ninety and three hundred dollars** per credit card record stolen. This doesn’t include the resultant legal action from your customers and damage to your company’s reputation. Put simply, for many companies within the industry, this is an issue of comply or die.<br /><br />So with the costs of complying and the time it takes clearly overshadowed by the expense of a security breach where do you go for help. The answer is Conferma.<br /><br />Conferma reduce the scope of your compliance requirements by taking the need to hold, process and transmit card data out of your company but not your control. In the modern I.T. jungle Conferma is the game keeper providing expertise and protection whilst saving both time and money.<br /><br />*<a href="http://pcifines.com/">MasterCard<br /></a>** <a href="http://www.braintreepayments.com/blog/pci-compliance-basics-for-credit-card-secuirty">Basics for PCI compliance</a> </span>devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-20444636961034041282011-04-19T15:51:00.002+01:002011-05-05T16:41:19.366+01:00Conferma: Innovation in the world of corporate T&EWithin the Corporate T&E world there is an opinion, amongst some, that the industry lags behind other sectors in adopting and embracing new technologies and solutions. This could be, in part, due to the ageing and inflexible legacy systems that pervade amongst many operators that constrict their organisation.<br /><br />Additionally, there are other challenges of finding and keeping staff capable of deploying and managing cutting-edge technology and the rising associated costs. Finally, where and how do you find an innovative and reliable technology partner? These are a few of the common problems that make IT such a difficult issue to address.<br /><br />Put simply, the industry has a love hate relationship with IT. Yes we need it to do the complex data handling and moving but no we don’t want the ageing legacy systems and incompatible platforms.<br /><br />Fundamentally, there is no silver bullet, no all encompassing ubiquitous system passing data between and from all Hotels, Airlines, Conference Halls, Rail, Car Hire and Taxi companies back to the booking agent and corporate. Similarly, the banks and technology partners all deploy their own solutions designed from their viewpoint.<br /><br />So it is no wonder that any company investing in the next generation technology would take a good hard look at the market place before investing. After all, two years from now you don’t want to be tied to another legacy system incapable of meeting the challenges of the future.<br /><br />One alternative is the Conferma Network! One partner pre-connected to numerous financial and technical partners via a single platform. Conferma’s agnostic approach to partnering with financial and technical partners allows our customers to seamlessly integrate our booking, and settlement platforms into their solutions.<br /><br />Conferma’s unique and intelligent solutions provide both commercial and technical innovation in that all parties can benefit from using our intelligent solutions to supersede the traditional billback process whilst having the freedom to choose or stay with their existing technical and financial partners. Customers of the Conferma network have access to a powerful Hotel Booking system connected to 150,000 hotels and an array of technical and financial partners for the corporate T&E market.<br /><br />The real value of the Conferma network is that it will change, grow and develop over the coming years’ in line with the industry. As new booking technologies appear, Conferma will embrace them; and as new partners appear, Conferma will join with them. I think you get the idea. We change, we adapt, we do the hard work - and you benefit.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-67446351559921227762011-04-05T16:19:00.002+01:002011-04-07T10:04:57.762+01:00We are listening to our customersLast month Conferma completed the first of many Customer Surveys. The first segment of our customer base we listened to were frontline staff in the corporate hotel booking world. This short survey asked these corporate hotel bookers to rate our customer service and the booking website.<br /><br />Once the results had been collated our technical team sat down to discuss the data and identify any opportunities to improve the service and solutions we offer. It was surprising that such a brief survey could generate so much information and ideas. <br /><br />We were pleased with the results regarding customer service satisfaction – many respondents were either ‘Very Satisfied’ or ‘Satisfied’ with the service they received. 83.1% of respondents were either ‘Satisfied’ or ‘Very Satisfied’ with the availability of our customer support. The general feeling is that our customer support is performing well. However, we have spotted opportunities to do better.<br /><br />To enhance our service further we are introducing bi-annual full-service reviews at an agency level. A new management feature will be built into the site to allow clients to nominate and manage their own contact list. Additionally, all customers will be informed of our support escalation process.<br /><br />These are just a few of the customer support enhancements we hope will give our customers the support they deserve.<br /><br />Conferma has achieved 100% availability during the last six months and we believe this justifies our investment in the latest hardware and software. In June last summer we launched v4 of our hotel booking solution, this .NET version is faster and more reliable than its predecessor v3.<br /><br />When asked how responsive they thought our booking site was nearly half of all respondents thought it was ‘Responsive’ and 96.8% rated the site as either ‘Very Responsive, ‘Responsive’, or ‘OK’. Many within the technical team believe that Conferma can better this score and will work hard over the coming months to make the booking website more responsive.<br /><br />One pleasing conclusion was that many of the improvements suggested for the website are already in our development pipeline. <br /><br />Upcoming developments for the site include enhancing the search function, removing guide rates, improving data quality and enhancing administrator functionality. We are also considering introducing GDS property locator codes to help experienced staff quickly search the system.<br /><br />We have more improvements in the development pipeline and will issue these to our customers over the coming months.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com0tag:blogger.com,1999:blog-1131773770214070260.post-38778541528138742672011-03-16T11:39:00.001+00:002011-03-17T08:05:46.266+00:00The Jevons Effect!At Conferma we are always eulogising about the efficiencies and benefits our systems deliver to the corporate T&E industry. Improve your operations, use superior processes, reduce costs, reduce man hours, eliminate paper based processes and overcome the nightmare that is billback! These are just some of the benefits we tell the industry and anyone else who will listen to us. <br /><br />What are the implications of these benefits you ask? Will we need fewer staff, can we process more customers, win new business? The answer is simple, about two hundred years ago a leading economist named William Jevons observed that increasing the efficiency with which a resource is used increases the rate of consumption. <br /><br />In other words as your staff (human resources) adopt Conferma’s solutions they will suddenly be able to achieve more today than they could yesterday. Ultimately, the capacity of your team will increase as workflows are improved.<br /><br />So where is this all going? The answer is simple, despite all our eulogies, many within the industry are still struggling to make efficiencies in the workplace, especially when it comes to hotel billback. Time after time I read numerous articles and blogs full of people wishing for an alternative to billback. Haven’t they heard? Didn’t they listen? Conferma overcame the problem of billback years ago. Probably about the same time, William Jevons was writing his notes up...<br /><br />Taking billback as an example, this process is notoriously time-consuming as bookings and invoices have to be matched manually. In many cases, data is incomplete, delayed in arrival and can expose clients to a credit risk. Put simply the challenge is to match invoices with back office data. <br /><br />Conferma have designed a solution that overcomes this problem using virtual card technology to gather and match booking and billing data and then pass this reconciled data to the correct parties involved. <br /><br />This gathering and matching of data means frontline staff do not have to print off numerous documents or repeatedly enter the same data to make a booking. It is all done for them by Conferma powered technology. Additionally the automated reconciliation of data removes the tedious process of chasing up outstanding invoices.<br /><br />Now you have learnt a little bit more, why not contact Conferma to see what we can do for you.devteamhttp://www.blogger.com/profile/06832175088761758824noreply@blogger.com1