Addition Enhances the Most Advanced Procure2Reimburse Global Lodging Platform
Cologne, 14 April 2021 – HRS, the leading corporate lodging platform, is transforming the financial cycle governing corporate hospitality. In an age of digital transformation and comprehensive data visibility, managed travel has largely lagged behind. With the goal of helping companies fully capture and control lodging costs from all segments – including transient, meetings and groups, and extended stay – HRS has built a unique ecosystem that enables global payment, invisible and audited invoice management, and automated VAT reclaim for global programs. HRS’ acquisition of Itelya, the world’s leading travel invoice management services provider, emphasizes HRS’ standing as the most traveler-centric lodging leader and a true financial technology provider. Itelya’s services are used today in more than 180 countries. Itelya’s superior invoice collection and data management capabilities simplify an array of downstream functions, including payment to suppliers and VAT reclaim for corporations.
HRS’ newly-founded Travel FinTech consists of more than 100 team members, collaborating to build the next generation Pay2Reimburse ecosystem. This end-to-end solution is plug & play ready, connecting seamlessly with all leading ecosystem providers, including credit card merchants, expense tool providers and VAT reclaim services.
“Itelya’s decade-long expertise in global invoice management enables us to scale much faster to serve our global client base. We’re excited that their existing management team, along with all their highly-talented colleagues, are joining the HRS Group,” said HRS CEO Tobias Ragge. “Itelya is a centerpiece to the ecosystem we are building out. Our Lodging as a Service platform is comprehensive and unmatched, offering corporations a superior option as they recalibrate for the resumption of business travel. The fact that we own all of our technology solutions and associated data models gives us a unique capability to innovate faster and create the highest value for our customers.”
Complete Procure2Reimburse Ecosystem Creates Unique Data Insights For a Better Customer Experience
HRS’ Lodging as a Service platform includes:
- A procurement360 platform enabling best-in-class benchmarking regarding rates, safety, security and sustainability scorings of all lodging suppliers globally,
- A one-stop shop for booking corporate hotels – incorporating transient, meetings and groups, and extended stay – including AI-powered rate filtering to eliminate incorrect rates, fully automated rebooking and a personalized recommendation engine to maximize traveler satisfaction, and
- The Pay2Reimburse plug & play solution, working within the entire ecosystem consisting of credit card merchants, expense tool providers and VAT reclaim services. The payment solution captures level-3 invoice data of any lodging supplier globally, performing compliance checks and generating data insights to optimize the procurement process and booking experience..
The HRS platform is fully integrated into the leading corporate expense provider, SAP Concur, which helps reduce the burden on travelers for itemization in expense reporting. Automation introduced in recent months facilitates exponential VAT reclaim opportunities for companies that cumulatively leave millions in spend unclaimed due to data and paperwork inaccuracies.
Prominent Brands Leverage HRS Pay2Reimburse Solution Globally
The seamlessness and simplicity of HRS’ platform is widely used by trailblazing managed travel programs around the world. In Europe, companies including Airbus and Deutsche Telekom use the technology to streamline hotel payment and reduce time and effort for travelers to be reimbursed. Companies with massive operations in China, such as Alibaba and Huawei, leverage HRS’ customized solutions for the unique Chinese market to navigate a completely different payment ecosystem compared to Western market standards.
- 99 percent invoice accuracy, including level-3 data, helping speed Federal reimbursement activities,
- 100 percent elimination of fraud via AI-powered automated auditing procedures, and
- 100 percent cooperation from hotels participating in the program, improving their use of virtual payment processes and setting the stage for them to work with corporate hotel programs in the same manner as traditional business travel resumes.
Recognizing the creative flexibility and massive scale of this initiative, the state of California’s travel program leader was honored by Business Travel News as Travel Manager of the Year for 2020.
HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction. HRS is also recognized for its award-winning Green Stay Initiative, technology that helps corporate hotel programs achieve their NetZero targets, and its groundbreaking Crew & Passengers Solution, which leverages automation to elevate experiences for air and rail operations. Founded in 1972, HRS works with 35 percent of the global Fortune 500, as well as the world’s leading hotel chains, regional hospitality groups and payment providers. More information at www.hrs.com/enterprise.