February 8, 2017
Leading German dynamic packaging tour operator, Vtours, has integrated eNett Virtual Account Numbers (VANs) to automate its supplier payments. Partnering with eNett, Vtours employees no longer have to spend time manually reconciling using complicated systems. Instead, VANs are seamlessly integrated, allowing payments from within the booking workflow and automatically reconciling payments. Since implementing eNett VANs, Vtours estimate efficiency savings of 100 man-hours a year.
Vtours sells a range of family and couples holidays in packages or as standalone travel bookings. With more than 120 staff and a turnover in excess of €200m, Vtours was making a high volume of payments to low-cost carriers using the company credit card. However, despite trialling different card providers, none of them provided enough information to easily and automatically reconcile transactions. Added to this, flight transaction numbers were missing on the credit card statements, and could only be retrieved through other systems - a tedious and time-consuming task. Vtours looked to virtual cards to provide a solution. But even these proved problematic with complicated systems requiring multiple accounting entries required for each flight transaction. Another provider’s systems were unreliable, constantly crashing when Vtours extracted lists for reconciliation. Vtours needed a virtual card solution that would make reconciliation simple and easy. Following a recommendation by IT provider Ypsilon, Vtours looked to eNett VANs.
VANs are 16-digit MasterCard numbers uniquely generated for each transaction. Leveraging an existing relationship with IT provider Ypsilon, VANs were easily integrated with Vtours’ accounts and booking platforms automating payments through the same workflow. Now, every time a booking is confirmed, a VAN is automatically created and sent to the low-cost airline for payment. Reconciliation is also automated, generating significant efficiency gains for Vtours equating to an estimated 100 man-hours a year. And Vtours enjoys a rebate on every transaction1, further lowering the cost of payment.
Vtours Chief Financial Officer, Christian Vogt, said, “eNett offered a level of integration that made payments fast and easy for us. Its existing relationship with our IT provider Ypsilon made the API integration process effortless, and we were able to see the benefits of VANs straight away. Our staff are pleased to not have to go through the painful manual reconciliation process, and means they can spend more time with customers which are our key priority. The efficiency gains mean we can offer our customers the best service and the best prices.”
eNett Managing Director and CEO, Anthony Hynes, said, “eNett is dedicated to lifting the burden of manual processes and reconciliation for travel companies. It’s a thankless and unnecessary task for agency employees, whose time is better spent with customers. Our integration capabilities and partnerships means we can offer truly seamless payments and bookings, regardless of platform. We are pleased to be supporting Vtours with their growth and enhancing the employee and customer experience.”
1. VANs terms and conditions apply