February 26 – As highlighted in our recent posts, we are seeing a clear trend across different industries towards the automation and optimisation of the entire area around Accounts Payable and Receivables. Often payment delays are related to reconciliation challenges on the part of both buyers and sellers, dealing with large amounts of data; slowing down the process. Overall, the delay (real or used as an excuse) impacts the cash-flow for the the supplier and drives inefficiency for the buyer.

What does this mean for Travel Ledger?

The recognition that AR/AP optimisation is becoming a priority in many industry verticals, and the investment of mega corporations in this space, makes it so that businesses become more aware of benefits this can bring and also more tools become available for Travel Ledger to leverage, specifically in the payment area.

How is Travel Ledger similar?

Like EY and other companies mentioned in previous articles, at Travel Ledger we provide companies the common platform to facilitate interaction and data exchange amongst diverse buyers and sellers, so data is available for automation downstream in their own in-house accounting and reservation platforms.

How is Travel Ledger different?

Travel Ledger is specific to the the Travel Industry which differs greatly from other supply chains in data fragmentation and complexity, when it comes to financial accounting data. For this reason we have developed our own ecosystem, highly geared towards the requirements of companies that need to regularly (or irregularly) interact and reconcile transactional data with sometimes thousands of business partners all over the world. Travel Ledger is the sole specialist in this area.

As reflected in our recent posts, the common theme across industries is the recognisable benefits for industries that are fragmented and entail a large number of transactions in multiple currencies (like travel), automation of distributed system, combined with new payment rails provide an opportunity for optimisation and cost saving benefits.

Overall, industry Players are recognising that standardised and/or unified Data is the main element without which no real automation can be achieved.