LLF OVBTA presentation V2...Microsoft PowerPoint - LLF OVBTA presentation V2.pptx Author: lfritz...

Presented by GBTA Payment Solutions Committee

© 2019 GBTA. All rights reserved.

Preferred Hotels and Strong Partnerships

Panel Discussion

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Becky Sweezea, Travel+Expense, Wolverine Worldwide

Leslee L. Fritz, Business Travel Sales Manager, AHC+Hospitality

Jim Sullivan, Worldwide Sales, Best Western Hotel Group

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© 2019 GBTA. All rights reserved.

Recap: What is Virtual Pay?

CustomaryAspects of Virtual Cards/Payments

• Traditional credit card number, without the physical card

• Transaction specific, one–to–one payment

• Authorized for a specific transaction

• Validity dates

• Amount cap

• Vendor restrictions

• Once the transaction is complete, the account number is inactive for new charges

• Specific traveler data collected at time of card creation, allows for easy allocation

Know the players

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As the technology continues to advance and become a more mainstream payment method, stay up-to-date on whose entering the market and the benefits they provide.

On the vendor side

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Go straight to the top!

Have a conversation with your CFO, accounting manager, or whomever it is that directs all the financial transactions for your company.

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Walk through the process

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You are the subject matter expert

• Don’t assume your finance team knows what virtual pay is

• Be prepared to explain the pros and cons for your business and for your customer

• Share where virtual pay starts and where it ends

On to the front line

• Create SOPs alongside your finance and front line teams

• Impress upon all involved the importance of success

• Reinforce the guidelines on a regular basis (monthly, quarterly)

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Workflow of Virtual Payment

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TMC creates reservation > XML request to obtain

virtual card number

Card provider issues account

number

Account number is generated and initiates payment information >

sent to vendor

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Account number is attached to

reservation and can be made available to the traveler as well Virtual card is

charged after reservation is

completed

Transaction details are transmitted to

reconciliation platform

Pull reconciliation details from

platform

Pay card account balance. Earn

rebate $$!

Client + Hotel working togetherFor Travel Managers

• Get a clear explanation on how your vendors will accept and process virtual payments

• Supply a notification letter that you’re adopting virtual payment

• Don’t take for granted that vendors know what virtual pay is

• Help facilitate education or training for your vendors

For Vendors

• Understand the complexities of your accounting system(s)

• Understand the lingo as each entity may use its own acronyms and definitions

• Help facilitate education or training for your team members

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Create Test Reservations

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Once you’ve walked through the process with the hotel teams, test the process.

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Build strong partnerships• Recognize your road warriors, VIPs, and preferred accounts

• Create a vehicle by which your guests can give you feedback

• Respond in a timely fashion

• Show your gratitude!

• Help your customers celebrate their wins!

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Evaluate• What’s working?

• What can be improved?

• Are we achieving our goals?

• Can we set new goals?

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RecapDirect

• Implementing Virtual Cards and the Journey to success

• Is it right for my organization?

• Where do I start?

• Weigh pros and cons

• Getting buy in

• Setting yourself up for success

Allied

• Preferred Hotels and Strong Partnerships

• Know the players

• Educate yourself and become the SME

• Walk through the process

• Be an advocate for your client

• Evaluate

© 2019 GBTA. All rights reserved.

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© 2019 GBTA. All rights reserved.

Payment Solutions Education Sessions

© 2019 GBTA. All rights reserved.

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Join us in Chicago at GBTAConvention 2019

• Buyers & Hotels Debunk Virtual Payment Myths – Mon. Aug. 5 / 8:00-8:30am

• Virtual Payment Beyond Hotels – Mon. Aug. 5 / 8:45-9:15am

• Prelude to a Payments/Card RFP, Are You Ready? – Mon. Aug. 5 / 9:30-10:00am

• Mission Possible: Biometrics and Virtual Payments? – Tues. Aug. 6 /10:30-11:00am

© 2019 GBTA. All rights reserved.

Thank you!