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Published on : Saturday, May 21, 2016
Cornerstone Information Systems (CIS), a leading global technology and services provider for travel companies, announced the launch of Cornerstone AutoPay, a new solution that enables travel management companies and corporations to operationalize their use of virtual cards. Cornerstone has partnered with eNett International, a leading provider of dedicated B2B payment solutions, to offer a secure, streamlined payment method that eliminates the errors of manual processing and reconciliation of payments through automation.
Cornerstone AutoPay provides end-to-end integration directly from the workflow to trigger the creation of a unique Virtual Account Number (VAN) and to reconcile that within both the booking and the back office data. Cornerstone AutoPay will reduce the risk of fraud while providing protection from supplier default, lowering costs and generating efficiencies, enabling TMC’s to focus on customer service to grow their businesses. Backed by the MasterCard guarantee, eNett VANs generate unique numbers for every transaction and are available in over 30 currencies, facilitating safe and secure payments in 35.9 million locations, wherever a supplier accepts MasterCard online.
“We are committed to finding new, innovative products that deliver value to our clients,” states Mat Orrego, CEO of Cornerstone. “Virtual cards optimize financial processes and reduce friction to improve the bottom line. AutoPay offers increased efficiency, security, and control – and because transactions are treated the same way as standard cards, payment is instant. TMC’s can also better enforce travel policies with payments linked to corporate criteria and manage suppliers more effectively. We are proud to be developing and delivering the most comprehensive end-to-end solutions in the market, and optimizing our client’s success.”
eNett’s Managing Director and CEO, Anthony Hynes, said, “eNett is dedicated to lowering the cost and complexity of supplier payments, making innovative and integrated technology accessible to companies of all sizes. This is why we have partnered with Cornerstone for Cornerstone AutoPay, giving travel management companies a new level of integration for truly seamless supplier payments. We look forward to working with Cornerstone to bring more innovations to address the inefficiencies of B2B travel payments.”