Conferma, the expert in travel and expense reconciliation and settlement technology, has announced that ABC Connection, the online publisher of data and rich content for the hospitality community, is to integrate Event Trustee, Conferma’s credit-based automated invoice settlement tool, into its Request for Meetings (Rfm) solution.
ABC’s RfM systems enable Travel Management Companies and Hotel Booking Agents to obtain fast, complete responses to meetings requests together with high quality information and images for client proposals. ABC is beta testing Event Trustee with a large travel management company and anticipates it will go live next month.
Designed to better streamline costs associated with meetings and event management, Event Trustee uses a virtual card to automatically pay venues pre-agreed event costs at pre-scheduled times. It also automatically reconciles each item using the same unique virtual card number when it is booked, billed or paid for. As a result hotels and venues get paid on time reducing their exposure to financial risk and improving their cash flow. Event organisers also benefit from greater budgetary control and less time spent chasing and processing invoices.
Martin Coleman, chairman and publisher of ABC said: “We are delighted to offer meeting bookers direct access to Conferma’s Event Trustee. In doing so they will be offering hotels improved payment terms which will increase their ability to secure better deals for their clients.”
Simon Baker, CEO, Conferma, said: “With Event Trustee invoices get paid on time, every time and payment is instant. It reduces exposure to risk for both the hotel and event organiser as payment is made directly with the credit card company.”
Conferma’s card-based payment system offers the highest level of encryption and security and is fully compliant with the Payment Card Industry’s most robust data security standards.