|September 17, 2007|
Abacus & MasterCard Corporate Travel Solution (CTS) Extraction Program
|Leading Malaysian travel agency, Holiday Tours & Travel Sdn. Bhd is poised to tap into the advantages offered by a new data extraction programme from Abacus International and MasterCard Worldwide. |
Robert Lim, General Manager, Corporate / Incentive, Holiday Tours & Travel Sdn. Bhd said the new solution introduced on1 September will offer its corporate travel customers more comprehensive corporate travel information enabling them to better control and manage corporate travel spending.
"The successful implementation of the MasterCard Corporate Travel Solution (CTS) Extraction Program at Holiday Tours & Travel also paves the way for us to consolidate corporate client settlement data for billing and statements," said Mr Lim.
"Equipped with this information, our corporate clients will be able to monitor the travelling expenses and patterns of their workforce and in turn increase their bargaining power with suppliers; such as airlines, hotels, cars vendors, representing a significant value add from the Holiday Tours and Travel," Mr Low said.
Abacus Vice President for South Asia, Kenneth Low said that Abacus International was the first Global Distribution System (GDS) to collaborate with MasterCard to enable data extraction for corporate clients in this region.
"The combined Abacus/MasterCard solution benefits not only the corporate clients with administrative cost savings, and access to better information, but it also benefits Abacus corporate travel agencies and travel management companies such as Holiday Tours & Travel Sdn. These organisations are able to deliver better value and service to their corporate travelers in managing their business expenses," said Mr Low.
Utilising Abacus' Global Distribution System (GDS) corporate clients of Holiday Tours & Travel will have the option using MasterCard Corporate Cards to receive line item travel expense details via MasterCard Smart Data OnLine (SDOL) a global, Web-based reporting application that helps corporations seamlessly organise, consolidate, analyse and manage financial data from cards, cash transactions and other MasterCard programs.
Peter Gordon, vice president, Global Commercial Products, Product Sales & Delivery, Asia/Pacific, MasterCard Worldwide said MasterCard also welcomed the successful implementation by Holiday Tours & Travel Sdn. Bhd. in Malaysia."
"Financial accountability and transparency is the new mantra for companies across Asia/Pacific and travel and entertainment is typically a company's third largest controllable expense with potential for misuse. Holiday Tours & Travel corporate clients can avail of the benefits of the Abacus/MasterCard solution -- and harness the power of data for increased control, transparency and better business decision-making," Mr Gordon said.