While corporate travel is the second-largest controllable expense category for a corporation, noncompliant travel procurement and rogue spend can derail spend management in the space.
Travel management firm MacNair Travel Management announced on Tuesday (May 17) that it will integrate the virtual card solution from CSI globalVCard in an effort to help its clients regain control of corporate travel spend.
“Virtual cards are a far superior form of payment for air, hotel and car reservations,” said MacNair Corporate Travel Director Mark Weston in a statement. “In addition to the ease and security of the virtual card system, our clients gain significant savings through efficiencies.”
According to the executive, the collaboration sees MacNair recommending to its corporate clients that they implement CSI globalVCard services when booking with travel suppliers.
“Our integration provides MacNair customers with seamless payments, and the combination of our virtual card platform and mobile app delivers a truly exceptional travel payment solution for TMCs to offer their clients,” stated CSI globalVCard SVP of Partner and Travel Operations Juliann Pless in another statement.
In addition, the companies said they will host a joint educational session later this month, where finance executives and corporate travel managers can learn about the potential for virtual cards to help safeguard corporate spend.
The virtual card has recently gained traction in the corporate travel spend arena. Another B2B payments firm, WEX, recently released a whitepaper touting the v-card as not only a way to secure corporate spend on travel but for travel companies to safeguard their own payments with travel suppliers.
CSI globalVCard secured another collaboration earlier this month with Cambridge Global Payments that helps accounts payable professionals streamline their digital payment practices. CSI will provide its electronic AP tool, while Cambridge facilitates the payment to settle global B2B payments.