TRAVEL TECHNOLOGY,BUSINESS TRAVEL
HRS | August 08, 2022
HRS, the leading Gobal corporate travel and payment technology platform, announced the acquisition of Germany-based Paypense, enhancing HRS’ growing compilation of efficient corporate payment offerings. Only two years since launch, Paypense’s open platform has already made inroads with a broad range of corporations, enabling employees to use digital payment technology to pay for all work-related purchases. This smarter solution ensures compliance to budgets while also capturing relevant data for auditing, steering and even sustainability metrics.
“HRS Pay, reinforced by years of proprietary investments and our 2021 purchase of Itelya to propel the digital transformation of payment, is taking the next step in delivering an exceptional 'in destination experience' for corporate employees, Paypense provides intelligent spend management services for managers and employees alike, whether they are on the road for weeks at a time or supporting a one-day, off-site event that doesn’t require travel. This acquisition represents a new milestone for HRS Pay as we continue to focus on elevating employee satisfaction.”
-Tobias Ragge, HRS CEO
The employee satisfaction component is critical to driving the successful deployment and ongoing use of spend management technology. Recent research from the Global Business Travel Association, inclusive of feedback from 600+ procurement executives and nearly 2,500 business travelers, found that 85 percent of respondents said that the ease of completing expense reports, ease of expense approval process and speed of reimbursement are important to spend management..
Paypense’s Broad Array of Controls and Efficiencies Redefine Spend Management
Leveraging automated intelligence and auto-approved, in-policy purchasing, Paypense dramatically reduces concerns about what items an employee may acquire. This elegant solution appeals to accounting and procurement managers, as Paypense effectively ensures the right amounts are spent on the right kind of purchases, every single time.
The under-the-hood approach to managing virtual technology and secure connections to a company’s preferred banking institutions makes this seamless to employees who crave simplicity in all expense-related processes. Other Paypense highlights include:
The provision of pre-approved budgets in real time to individual employees, groups, or job candidates via Paypense’s patented "matrix approval engine.” Functionality also allows for the approval and dispensing of increased allocations for emergency scenarios;
Mobile app capabilities that facilitate tracked purchases by the employees, without him/her ever having to use their own funds;
Automated receipt acquisition for common online portals used by employees, including air, rail, hotel, auto, ridesharing, phone and other prominent suppliers; and
Leveraging supplier and localized data, Paypense captures the CO2 emissions of individual expenses, a vital element for companies taking steps to reduce their carbon footprint.
“With our open platform, we’ve introduced a unique differentiator for the provision of virtual credit cards for pre-approved expenses, It’s clear from our industry engagement that there is an appreciation for our approach. We’re working in concert with expense providers and financial institutions, not competing with them as we transition from expense management to spend management. And with all parties squarely focusing on enhancing the employee experience, we’re increasing satisfaction even as we uncover new avenues of payment efficiency.”
-Christopher Hecht, founder and CEO of Paypense
Complemented by this acquisition, HRS Pay now offers truly holistic spend management solutions covering not only travel-related spend, but also non-travel, localized spend that accounts for significant expenses,” said Kurt Knackstedt, Chief Growth Officer for HRS Pay. “With the full integration of Paypense, our complete end-to-end spend management platform provides unmatched visibility of level-3 data, multi-category invoice digitization, and superior VAT reclaim automation – all available globally via any payment provider. Given these cumulative capabilities, HRS Pay is uniquely positioned to deliver the consummate payment solution for Fortune 500 multi-national companies.
Paypense’s employees will officially become HRS Pay employees when the acquisition formally closes in August. Christopher Hecht will join the HRS Pay team as Chief Product Officer, overseeing development and working collaboratively with clients, partners and employees to enrich HRS Pay solutions moving forward.
HRS Pay solutions will be featured at the upcoming Global Business Travel Association conference in San Diego on August 14-17 at the HRS booth (# 3229). Paypense is also one of an exclusive few new technologies to be selected for the Innovate event in New York City on October 24.
HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction. HRS is also recognized for its award-winning Green Stay Initiative, technology that helps corporate hotel programs achieve their NetZero targets, and its groundbreaking Crew & Passengers Solution, which leverages automation to elevate experiences for air and rail operations. Founded in 1972, HRS works with 35 percent of the global Fortune 500, as well as the world’s leading hotel chains, regional hospitality groups and payment providers. More information at www.hrs.com/enterprise.
Nuvei Corporation | May 27, 2022
On May 26, Nuvei Corporation announced its partnership with Scott Dunn, an award-winning luxury tour operator. Nuvei will provide Scott Dunn with a comprehensive global payment solution, including smart routing and payments orchestration. Nuvei accelerates businesses through modular, flexible and scalable tech solutions so that leading companies can adapt next-gen payments, offer various payout options and benefit from banking, risk and fraud management services and card issuing.
Post-pandemic the travel industry is expected to take off. According to Statista’s Digital Market Outlook Report, travel and tourism market revenue is predicted to reach the U.S $ 637 billion in 2022.
“The entire digital travel experience should be seamless from the moment a holiday is booked to getting to your destination. Payments are an integral part of that for both holidaymakers and businesses as global travel revenues grow, The Nuvei team’s extensive knowledge of our industry, coupled with a strong product stack and global reach, were instrumental in our selection process. With Nuvei as our payment provider, we are well positioned to grow further in key markets globally.”
-Scott Dunn’s Chief Financial Officer Mark Woodall.
Commenting on the partnership said: As a business that believes in exceptional experience, innovation and service, we’re delighted to partner with Scott Dunn
“Our global acquiring and payments gateway solutions offer scalability; while our smart routing engine will help define, configure and manage transactional routing in real time. Partnering with Scott Dunn will further position Nuvei as the payments partner of choice for the travel and mobility industry,”
-Nuvei Chair and CEO Phil Fayer
Cain Travel and Sabre | August 05, 2022
Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, announced a new distribution agreement with Cain Travel, a US-based travel agency. This new agreement will enable Cain Travel to complement services to their customers worldwide, drive efficiencies and support their economic growth by leveraging their proprietary technologies along with Sabre's travel marketplace (GDS).
Cain Travel will have access to Sabre's marketplace of more than 400 airlines, 750,000 hotel properties, and hundreds of tour operators, rail, car rental and cruise providers, to sell customized travel packages from suppliers around the world. Additionally, the travel agency will use their proprietary technologies – powered by Sabre API's – along with the reach represented by the Sabre GDS to differentiate its services among their competitors.
"The key reasons Cain Travel chose Sabre were its technology and strategic vision on NDC. We were looking for a travel technology partner that could help us address many aspects of our business – driving revenue, reducing costs, and improving our efficiency, Sabre's technology strategy including its approach to NDC will make it easier for our staff to find the content and personalized offers that our customers expect. We look forward to a successful and bright future with our new partner."
-Michael Cain, President of Cain Travel Group of Boulder
Founded in 1985, Cain Travel is one of the nation's largest independent travel management companies, providing a unique set of travel solutions.
"As the industry continues to recover, travel companies face the challenge of quickly adapting their business to this dynamic market's changing needs and requirements, We are excited to serve as the strategic technology partner for Cain Travel and to bring them onto the Sabre GDS where they will have full access to Sabre's leading technology and broad travel content."
-Andy Finkelstein, senior vice president, Global Agency Sales and Corporate Solutions for Sabre
Today, thousands of agency points of sale are shopping, booking and servicing NDC offers through the Sabre marketplace. Sabre continues to broaden its NDC capabilities, coverage and content from multiple airlines.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
About Cain Travel
The Cain Travel Group of Boulder, Inc. (Cain) is a certified Woman Owned Small Business founded in 1985. Since our inception, Cain has grown to become among the largest privately held TMCs in the country. Cain has achieved this success through a combination of employing extremely experienced and dedicated staff, enjoying unparalleled employee and customer retention rates and conceptualizing, developing and deploying new technologies designed to enhance traveler experience and facilitate the success of travel programs. The Company is based in Boulder, Colorado.