expanded to support the payment of air, rail and car services. VCAT is globally available in 32 countries across Europe, the Middle East, Africa, Asia and North America in 20 currencies, and is being expanded to additional countries in Asia.
move to a single TMC provider and introduce VCAT.
VCAT provides a secure and effi cient way to make travel payments without the need for plastic cards: a unique 16-digit card number is generated for each transaction. It can be processed like any card-not-present transaction, and is welcomed by all card-accepting travel suppliers. Crucially, it delivers granular information that integrates into existing systems so the company’s employee data is captured and fed directly to its expense management system.
Sodexo planned meticulously and reaped the benefi ts. It contacted hotel chains about the move to a new TMC, introduced an online booking tool and set up a payment mechanism long in advance to ensure there were no problems. Attention to detail also meant that the integration effort to connect Citi, the company’s TMC and its KDS online booking tool went smoothly. Integration included plugging a data feed into the company’s expense management system to facilitate VCAT reporting, which, combined with a comprehensive travel policy, gave Sodexo increased controls and compliance.
DELIVERING RESULTS With the solution in place, Sodexo is enjoying the benefi ts of the transformation of its travel programme. For employees, the new system is a welcome change: they don’t have to pay using their corporate or personal card anymore, making their lives easier and expense management more straightforward. Booking hotels is now simpler (and the company benefi ts as users are guided towards the best value/preferred or alternate booking options).
Centralisation of Sodexo’s travel payments across hotels and low cost airlines has improved effi ciency and lowered costs. Its use of VCAT
means that costs, cost centres and other data are captured accurately when a virtual card is requested – reconciliation is no longer a problem. The wealth of data available to the fi rm (including booking versus cost data) has enabled it to negotiate better rates with chains and drive down costs. The company can drill down and target segments or individuals to get best rates for preferred hotels. VCAT’s enriched data and user-defi ned fi elds enable Sodexo to create reports on traveller behaviours and gain insights into spend trends.
Treasury and Trade Solutions
citi.com/treasuryandtradesolutions
There have also been sizeable cost savings as a result of the increase in use of the KDS online booking tool from less than half of all bookings to more than three-quarters: online bookings save as much as 30% on agency fees. Overall, Sodexo expects to save almost $350,000 from the VCAT implementation; back offi ce staffs are also freed up from manual tasks to focus on value-add areas that help the business. At the same time, it has improved its cash fl ow management with set cycles and billing terms. Treasury now receives data that it uses to forecast outgoings a month in advance.
© 2018 Citibank, N.A. All rights reserved. Citi and Citi and Arc Design are registered service marks of Citigroup Inc. 1702190 GTS26722 05/18
LOOKING FOR NEW OPPORTUNITIES Sodexo was an early adopter of VCAT: it saw the enormous opportunities the payment solution offers, especially when integrated with the company’s TMC, its KDS online booking tool and its expense management system. The result has been lower costs, improved effi ciency and – as importantly – greater visibility of data, which offers additional opportunities for improvements in travel management in the future.
The company is not sitting on its laurels. The success of the travel programme and its solution has already spurred it to look for new ways to use VCA and its online booking tool.
With 20 years of experience as a leader in travel services and an unrivalled virtual card offering, Citi is well positioned to guide and support your decision-making process and take your travel payments to the next level. Please get in touch if you think VCAT could help you improve the cost, effi ciency and visibility of your travel programme. Simply email us at
Amos.Curtis@
citi.com today to learn more.
Virtual Card Accounts for Travel Payment Flow
is well positioned to guide and support your decision making process and take your travel payments to the next level.
ADVERTORIAL FEATURE
©2018 Citibank, N.A. All rights reserved. Citi and Citi Arc Design are trademarks and service marks of Citigroup Inc., or its affi liates and are used and registered throughout the world.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154
