Tag Archives: PayStream Innovate

Peer-to-Peer Travel: Concur and the Big Breakdown

There is a big word that today’s modern traveler dreads to hear when embarking on a journey: breakdown. From a breakdown in a vehicle to a breakdown in communication, this word can put a wrench in an important corporate trip or a well-planned and well-earned vacation. However, in the current world of travel services, a good, hard breakdown is vital when it comes to connectivity barriers.

cn_image_0.size_.airbnb-logo-newThere are two companies in particular that are paying special attention to breaking down connectivity barriers by creating easier access to transportation and accommodation: Airbnb and Uber. In unique ways, they cut out the middle man and allow individuals to directly offer their own space and transport to travelers, creating a peer-to-peer network and eliminating booking companies, reservation fees, and the miscommunication that can come through multiple channels of travel arrangement. Airbnb is an online marketplace for accommodations that allows homeowners to rent out their rooms to travelers. Uber, a transport network company, operates as an alternative to a taxi service— mobile apps connect passengers to drivers of vehicles for hire and ridesharing services.

In a recent webinar focusing on supplier connectivity, PayStream’s Henry Ijams spoke about P2P trends, the biggest of which he said are coming in the form of an innovative use of collaborative paradigms. “P2P managers want to narrow the gap that comes from failed connection and communication between buyers and suppliers,” said Henry. “…They realize the only way to streamline their process is to streamline their connectivity.”

Henry used Uber as an example of a company that was placing uberimportance on a connective strategy. By quickly and easily putting people who need rides in contact with people who have cars, Uber is displacing regular taxi services and transforming the transportation services industry. In the same way, Airbnb creates a peer-to-peer network through their booking service, diminishing the need for hotel rooms, and bringing diversity and personalization to a sometimes lonely travel necessity.

The innovation of these two companies is inspiring, and it comes to no surprise for PayStream to hear of a recent partnership between concurUber, Airbnb, and the leading travel and expense management solutions provider, Concur. With this collaboration, business travelers can use these alternative services to book their trips and complete their expenses without sacrificing accuracy, visibility and manageability. For Airnbn, integration through Concur TripLink will enable employers to gain full visibility into each booking to ensure Duty of Care requirements are met. Uber’s integration with the Concur platform will provide Concur business travelers with the ability to request, ride, pay, and automatically expense their transportation– all from their mobile phone. According to Concur, both of these partnerships will make the benefits of collaborative consumption available to the business world.

Concur’s primary focus in travel and expense management has always been to create the “Perfect Trip”, and they do this by looking for the most innovative ways of streamlining business activity and business spend from anywhere in the world. As the market for travelling services expands and changes, it is only natural that Concur uses their own pioneering drive to follow these changes.

“This new generation of platform partners reflects the transformation taking place for today’s business customer,” said Tim MacDonald, executive vice president at Concur. “By partnering with these innovative companies, we are building a connected platform that radically improves the experience for the business traveler.” Not only is Concur acting as a P2P innovator by embracing and cultivating a peer-to-peer network for business travelers, they are helping to legitimize and strengthen Uber and Airbnb’s alternative services in the corporate travel market as much as in the leisure travel market. “With Airbnb and Uber, we are enabling, in business travel, what consumers already enjoy about collaborative consumption in their leisure. Capturing this spend then gives companies greater real-time transparency into traveler expenditure and itineraries.”

Through these partnerships, Concur is breaking down connectivity barriers between the buyer and supplier and between corporate strategy and modern innovation. This story is inspiring for PayStream and hopefully for any financial professional or business leader looking to take their own organization to the next level in connective collaboration. For more stories of innovative companies like Uber, Airbnb, and Riverwalk01Concur, register for this year’s PayStream Summit conference and take your own journey to San Antonio, Texas. Held on the city’s beautiful and famous Riverwalk, Innovate 2014 will feature two days of insightful and educational sessions with key business leaders who have been pioneers in the field of AP and P2P Innovation.

CloudTrade, Creativity, and an AP Transformation

PayStream Advisors recently learned of an interesting case study released by CloudTrade timthumb.phpNetwork, an eInvoicing platform provider. The study focuses on their recent success in transforming the eInvoicing process of Alpscontrols.com, an online-only source of control products for HVAC, building automation, and lighting control. CloudTrade’s techniques were so efficient in automating the web-company’s procedure, the major backlog of invoices was eliminated only three weeks after implementation.

For Alpscontrols.com, CloudTrade’s software worked so well due to its unique set-up and capabilities. A traditional e-invoicing solution wasn’t the best choice for the web-company, as many of their suppliers sent only PDF invoices; they wanted to avoid extracting the data from these PDFs and re-typing the information into their finance system. They chose to use CloudTrade’s service because it allows suppliers to email PDF invoices, mapping the invoice data carried to an eInvoice structure with no OCR and with complete data accuracy. The implementation was very successful: 90% of Alpscontrols.com’s suppliers now work with the new system for XML or PDF invoicing automation, and the transition was virtually painless due to the software’s ease of use.

A relatively young company, CloudTrade’s business emphasis is very modern: they are largely focused on removing barriers between suppliers and buyers. This attitude reflects the same growing global movement towards improving supplier-buyer connectivity that PayStream has recently seen throughout industry and government policies and in software development. CloudTrade creates their software with the goal of moving the maximum number of trading partners onto electronic document delivery in the shortest possible time frame, all without disrupting the supply chain. Their service removes technical, processing, and commercial barriers that can come with more traditional systems, and their eInvoicing network was built with features that encourage suppliers to move away from paper: it is free for suppliers, easy-to-use, and non-disruptive.

These techniques worked wonders for Alpscontrols.com, for which the smooth changeover and the minor impact on suppliers had great effects. This story of CloudTrade’s streamlining an otherwise lengthy and complicated process sets their network apart in quality, and marks them as a good example of a P2P innovator. PayStream believes that this company is one to watch in the coming years. Their diverse offerings may be just what the industry needs to help transform the supply-chain.

unnamedFor more stories of P2P Innovators like CloudTrade and of AP process transformations like this one, register for this year’s PayStream Summit conference in San Antonio, Texas. Held on the city’s beautiful and famous Riverwalk, Innovate 2014 will feature two days of insightful and educational sessions with key business leaders who have been pioneers in the field of AP and P2P Innovation.