Voxel attends Fitur with the clear objective of encouraging innovation in the area of B2B payments in the travel sector using Payment Manager.

Voxel, the leading electronic payments and ebilling company in the travel sector, will present the latest news related with Payment Manager at Fitur. Payment Manager is the cornerstone of the Open Payment Alliance, which is the new B2B payments standard that has been specifically designed for the travel industry.

The introduction of Payment Manager in the sector and consequently, the adoption of the standards set by the Open Payment Alliance, will entail a paradigm shift in terms of innovation, digitization and automation of B2B payment processes in the industry. This is how it has been described by important associations in the sector such as HEDNA and HTNG, who have been the promoters of OPA.

Technology in the distribution channel and in the payments channel

Over the past decades, distribution in the travel sector has grown exponentially, which has resulted in the appearance of new actors and intermediaries. This growth has been possible thanks primarily to three key technologies: the Internet, VCCs and Channel Managers.

However, the managing and distribution of B2B payments has not evolved at the same pace and the process to manage these is currently highly manual, complex, inefficient and a source of errors and losses for companies in the sector. In fact, in the current scenario, payment processing costs can have an impact of up to 5% of a hotel’s revenue, according to data provided by Voxel.

Open Payment Alliance proposes a new channel that is different from the reservations channel and which allows channeling a flow of payments from start to finish in a manner that is optimized, without frictions and adapted to the specific needs of companies in the travel sector.

In this sense, Voxel has developed baVel Payment Manager, the first Payment Manager on the market, which, in addition to implementing the standards set by the Open Payment Alliance, adds new modules that can be used by travel companies to automatically process payments while also benefiting from other innovations. These modules are: omni-channel connectivity with GDSs, Channel Managers, etc.; a rules engine for automatically selecting the best payments supplier and automatically executing the payment process; a virtual payments hub with more than a dozen payment suppliers; the safe distribution of payments and value added services such as invoice recovery, FX, automatic reconciliation, etc. baVel’s Payment Manager has passed the first concept tests and is currently being used by a dozen companies such as Palladium, Hotusa, MTS Globe, TUI Iberia…

Voxel at Fitur

For the second year now, Voxel will participate in Fitur with a clear objective: promoting the adoption of Payment Manager by the travel sector. In addition to presenting the latest innovations in Payment Manager, the company will also showcase its solutions for digitizing all the back-office processes of hospitality and travel companies at stand 8A14.

La entrada Voxel presents the latest news related with Payment Manager at Fitur 2022 se publicó primero en Voxel - Blog.

Xavier Ginesta, Chairman at Voxel, will present the most innovative modules of baVel Pay on the Travel Forward Stage.

Voxel, the leading e-invoicing and B2B payments company in the travel industry, will present the latest developments in B2B payments in the industry at the World Travel Market in London.

Xavier Ginesta, Chairman at Voxel, will present the paper “baVel Pay. The B2B payments revolution” on the Travel Forward Stage. This presentation will share Voxel’s vision of the radical evolutionary leap that B2B payments will undergo in the travel industry in the coming years and will present, for the first time after the recent acquisition of Troovo, the new functionalities and features of the baVel Pay platform.

In particular, the paradigm shift that the introduction of the Payment Manager and the adoption of the Open Payment Alliance standard will bring in terms of innovation, digitisation and automation of B2B payment processes in the sector will be analysed.

B2B payments in the international travel sector

Over the last decades, distribution in the travel sector has grown exponentially, giving rise to the emergence of new players and intermediaries. This growth has been made possible mainly thanks to three key technologies: the internet, VCCs and Channel Managers.

However, the management and distribution of B2B payments has not evolved at the same pace and the process for managing them has become increasingly complex, inefficient and a source of errors and losses for companies in the sector.

Following the recent acquisition of Troovo by Voxel, baVel Pay has added new and innovative functionalities and features. baVel Pay is now able to automatically orchestrate highly sophisticated end-to-end B2B payment flows, from retrieving the booking from a GDS or Channel Manager, choosing and generating the optimal payment method for that booking and taking out exchange rate insurance that mitigate exposure from exchange rate fluctuations; to distributing the payment directly to the hotel, obtaining and reconciling the electronic invoice, settling the payment and finally sending a reconciliation report to both the payer and the payee. Fully digital end-to-end business process execution without any manual intervention and therefore frictionless.

The baVel Pay service is articulated through the first Payment Manager in the market that implements the Open Payment Alliance standards defined by HEDNA and HTNG.

Commitment to innovation and digitalisation

For the first time, and coinciding with the first face-to-face edition of the WTM after the pandemic, Voxel will also participate in the event with a booth (TT738). Located in the Travel Forward, the event dedicated to technology and innovation within the World Travel Market, Voxel’s proposal will focus on boosting innovation in the field of B2B payments in the travel industry and contributing to the recovery of the travel sector through digitisation and automation of back-office processes.

La entrada Voxel presents the new baVel Pay platform at WTM se publicó primero en Voxel - Blog.

The Innovation Forum, part of H&T, the event dedicated to innovation in Hospitality and Tourism held in Malaga from 26th to 28th April. On April 27^th, Voxel participated in this forum with a presentation on “Digitalisation solutions for the value chain as a lever for sustainability and business scalability”, by Héctor Martín, VP of Global Sales at Voxel.

Martín explained how companies such as DABA, Grupo Selenta, UDON, Pestana Hotel Group, Novum Hospitality, Riu Hotels & Resorts, or H10 Hotels, among others, have already implemented various digitisation and process automation projects that have enabled them to grow, reduce management time or collection periods and, in short, improve their back-office processes. 

As Martín explained, citing the global “Altimeter Group Digital transformation survey”, companies that have undertaken digitisation processes are 26% more profitable than their competitors, as they can have their staff dedicated to higher value-added tasks. In addition, they are generally companies that have increased customer satisfaction, because they can dedicate more time and resources to them.

Martín also broke the myth that small and medium-sized companies have difficulty in accessing digitalisation solutions, explaining that “digital transformation is not exclusive to large companies, but is within everyone’s reach, thanks to modular and easily applicable solutions that adapt to the life cycle, size and real needs of all companies, whatever their size”.

A 360° view of digitisation

The digitisation solutions proposed by Voxel focus on back office processes, those that focus on business operations and have to do with administrative and management processes.

The digital transformation process of the value chain proposed by Voxel involves an initial analysis of all these company processes, where those with inefficiencies or hidden costs are identified, and which can therefore be improved at an operational level thanks to technology. Based on this initial analysis, Voxel proposes a customised, modular digitisation plan with short, medium and long-term solutions to help the company in the different areas identified for improvement. From here, thanks to baVel’s own technology, Voxel provides the client with a wide network of clients and suppliers integrated in the different verticals, with which it can start to operate automatically.

Martín emphasised the 360º vision offered by the baVel network, as it makes it possible to streamline all processes related to any company’s accounts payable or receivable, from the digitisation of invoices (at source or destination) to all related processes, such as connection with public administrations, invoice approval flows, order digitisation, stock control, reconciliation and payments.

La entrada Digitisation of administrative processes, a lever for recovery se publicó primero en Voxel - Blog.

H&T will be held in Málaga on 26, 27 and 28 April 2021.

H&T Málaga is the main meeting point in Southern Europe dedicated to innovation in the hospitality and travel industry. With more than 20 years of experience, this year’s H&T takes on special relevance after the COVID-19 crisis. The main objective of this edition is to promote companies and professionals in one of the main economic industries hardest hit by the crisis.

As a novelty, this edition incorporates the H&T Innova show with the aim of highlighting the R+D+i ecosystem of the travel industry. And it will be at H&T Innova where Voxel will be presenting its digitalisation and automation solutions for the value chain.

Digitisation of administrative processes, the key to recovery

Over the last few months, we have learned that the digitisation of internal processes must go hand in hand with the digitisation of external processes.

In recent years, companies have focused on digitising processes related to the end customer. And they have forgotten about the internal processes that are still carried out manually. Businesses that have taken advantage of the downturn to automate processes are now more competitive in the recovery.

If this crisis has taught us anything, it is that digitalisation is here to stay. That is why we want to explain to all those attending the H&T Show the benefits of digitisation applied to administrative processes.

At Voxel, we have been digitising the back-office of hundreds of travel and hospitality companies for over 20 years. We are experts in automated back-office through our electronic invoicing and payment solutions. And we have many success stories to prove it.

Agenda:

“The digitisation of administrative processes has become a key element for the sustainability and scalability of the hospitality business”. With Héctor Martín, VP of Global Sales at Voxel.

Tuesday, 27 April at 11:30h.

Innovation Forum (main hall).

If you are also going to be at the H&T Show and you want to meet us, write to info@voxelgroup.net.

We look forward to seeing you!

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