American Express® vPayment
Enhanced Spend Control and Less Administration
vPayment is a virtual solution that allows you to generate single-use account numbers that facilitate secure and efficient payment for hotels. It provides you with granular control of your expenses, reduces paperwork and errors, enhances security and offers an opportunity for online spend analysis.
vPayment for Hotel Booking
vPayment is fully integrated to help provide control and reconciliation capabilities to support management and central settlement of hotel spend.
- Value controls limit exposure to incorrect hotel rates being charged
- Ensure compliance with company’s expense policy
- Integrate with a reconciliation tool that matches the references, booking and invoice info in your American Express statement
- Helps optimise cash flow for all parties with improved payment timelines
Features & Benefits
- Transaction level Control and Authorisation
vPayment provides enhanced control of all spend down to exact amounts and dates, with your own unique references and buyer-specified references - making reconciliation problems and errors a thing of the past.
- Help protect against out-of-policy spend and fraud with customised, pre-set purchasing controls
- Set and maintain spending limits by transaction by month, or by set temporary limits
- Implement spending limits at the corporate account or Cardmember level
- Control individual transaction values
- Improve Purchase Reconciliation and Audit
Online analysis and expense reporting tools offer managers and procurement teams account visibility, enabling effective management of your programme.
- Compare real purchase data with contractual pricing by part number and unit price
- Cross reference discrepancies within an order to match to online order systems
- Monitor internal requirements for capital purchases
- Management Information and Reporting
24/7 administration tools for B2B payments help automate management with little or no investment and minimal integration.
- Access standard and customisable reports available in various formats and media
- Easily monitor compliance and spend by supplier
- Track spend within industry through expense summary reports
- Forecast future spending based on quarter-over-quarter or year-over-year benchmarks
- Minimal Program Administration
vPayment helps save you time while it handles the transactions. By capturing accounting data for each transaction, it reduces manual data entry or data tracking, making reconciliation easier. vPayment also improves your accounting information for later reporting or analysis by integrating any additional supplier-provided data.
- Reduce costs of your procure-to-pay cycle with one payment per corporate programme
- Easily Accepted Globally
vPayment works with any hotel that accepts American Express Cards so you’ll be able to use it with a global network of suppliers. American Express also provides dedicated supplier enrollment teams to further aid in helping your key suppliers accept American Express Cards.
- Improve Buying Power With Strategic Supplier Initiatives
Accurate purchasing and spending information can place you in a stronger negotiating position with suppliers. Take advantage of discounts from existing contracts and help secure preferential rates in the future. Manage where your employees spend and rapidly enable or disable spending with specific suppliers to fulfill contract volume thresholds or manage disputes.
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