Arrangement aims to help companies manage lodging expense and payment programs >>
by: Harvey Chipkin
HRS, the global corporate lodging platform, announced a partnership with Citi to serve corporate lodging programs. As managed travel programs relaunch, according to the announcement, an increasing number of companies are turning to centralized and virtual payment technologies to drive more accurate, streamlined and secure processes for travelers. By offering significant advancements in fully automated invoice collection and reconciliation, said the announcement, the partnership stands to help corporations maximize use of preferred suppliers while easing the burdens of legacy expense reporting on travelers and corporate accounting offices.
Technical highlights of the partnership include: · Citi provides its Virtual Card Account offering in 46 markets, including Brazil, China, India and Russia;
· HRS fully embeds those accounts into B2B travel booking processes to provide virtual credit cards to any accommodation provider worldwide for payment;
· HRS uses its AI-powered invoice engine to collect, audit, correct and provide hotel invoices to corporate clients, enhancing data transparency and making detailed metrics available to joint customers;
· Citi provides its billing and data capabilities to allow seamless integration into existing accounting processes.
Tobias Ragge, CEO of HRS, said payment efficiencies drive an easier, more seamless experience for everyday business travelers, while also advancing lodging program priorities that are vital to the C-suite. “We are proud to collaborate with a global champion like Citi,” he said, “that shares our belief in the power of platform-based payment automation to advance travel management.”