BCD Journey has launched a brand new company journey and expense platform designed to create what the journey administration large described as a “frictionless digital fee expertise from journey reserving and fee by reconciliation.”
Out there now to purchasers as an add-on subscription, the brand new BCD Pay is a set of options that provide functionalities round journey fee, reconciliation and bill administration—all of that are among the many greatest priorities for company journey and spending managers as journey resumes post-Covid, BCD mentioned, citing inside consumer analysis.
On the funds facet, BCD Pay can combine any type of fee a company consumer chooses, together with bodily and digital playing cards, right into a consumer’s most popular on-line reserving device. As soon as loaded, the suitable type of fee mechanically is utilized to every reserving in line with a coverage guidelines engine that additionally permits managers to set spending limits and different controls. BCD Pay within the close to future additionally will provide the flexibility to combine playing cards into cell wallets for in-trip bills, BCD mentioned.
Put up-payment, the platform’s spending administration options embrace an bill administration and automatic reconciliation tracker, in addition to a knowledge dashboard to trace prices and glean insights from journey spending conduct. An API-based integration functionality permits spending information to movement into expense administration, enterprise useful resource planning and different third-party programs.
BCD Pay’s functionalities have been designed to deal with key ache factors for its company journey purchasers, the TMC mentioned. A latest BCD survey discovered that greater than half of purchasers struggled with lacking invoices and receipts, bank card reconciliation and the standard of expense and spend information. In the meantime, greater than 25 p.c of purchasers cited challenges in managing funds for conferences, occasions and non-employee journey, particularly with the post-Covid rise of hybrid work.
From vacationers’ perspective, seamless fee and expense reporting processes obviating paper receipts and guide reporting are extremely desired, BCD analysis confirmed.
Throughout pilot testing, BCD Pay resulted in 75 p.c sooner cycle instances of end-to-end information ingestion, reconciliation, reporting and information integration, the corporate mentioned.