|May 07, 2013|
Conferma Signs Strategic Agreement With Abacus Securing Entry To Asia Pacific Region
|Conferma, the leader in global T&E reconciliation and settlement solutions, has signed an agreement to form a strategic partnership with Abacus, the leading Global Distribution System [GDS] in the Asia Pacific region. This marks another significant milestone for the Manchester-based technology company as it executes its strategy to achieve global presence in the major corporate travel markets and compliments existing partnerships with other GDSs in the Americas and Europe. |
The partnership, expected to go live this summer, will see the Conferma secure single use account (SUA), or virtual card number (VCN), settlement solutions integrated into the Abacus desktop solution and made available to Abacus' TMC and agency partners throughout the Asia Pacific region. As a result TMCs that subscribe to Abacus will be able to extend the benefits of the Conferma powered payment solution to their corporate customers while retaining their preferred banking partner relationship.
Conferma's global banking partners also benefit as the partnership marks the first time Conferma's capability will be offered to corporate customers in the Asia Pacific market bringing them additional billing opportunities.
Working with its network of global payment partners Conferma creates a virtual credit card at the time of a travel booking, triggering an automated payment and reconciliation process that accurately matches traveller and transaction activity to produce a transparent view of travel spend. TMCs can identify and track every booking from when it was made through to final settlement and audit that dramatically reduces admin time, room for error and the cost of labour-intensive processes, whilst seamlessly integrating into back office systems.
Commenting on the partnership agreement, Simon Barker, CEO, Conferma said: "Payment has become one of the key drivers in effective corporate travel management and the industry is realising the benefits that a secure controlled payment solution such as Conferma can deliver. This partnership is another strategic step for Conferma as it provides significant integration and billing opportunities for our banking and payment partners in this fast growing T&E market. We're delighted to be partnering with the GDS leader in this region, just as we have in the USA and Europe".
Robert Bailey, President and CEO of Abacus International added, "Increasing flexibility for corporate travellers in Asia Pacific is a key proposition we make to our customers. This partnership delivers on that promise by offering more traveller payment and settlement choices with the benefits of simplifying transactional processes, reducing errors, and bringing down costs. In a fast-moving and fragmented market, Abacus customers will be the immediate beneficiaries as we accelerate more online and mobile payment solutions for the corporate travel sector in the Asia Pacific region."