BANGALORE, India and SARATOGA, Calif., Aug. 19, 2021 /PRNewswire/ -- ITILITE, leading Enterprise SaaS based travel & expense manager platform announced a groundbreaking partnership with US based payments solutions company, Zact today. With this unified offering, organizations can now seamlessly issue payment cards, make travel bookings and manage employee expense reporting, all from an integrated platform. Together, the two innovative companies will create the first fully interoperable travel booking and spend management experience.
According to Holger Taubmann, Regional CEO, Dach at Lowell and previously SVP of Distribution at Amadeus, "Today, most companies deal with delays and non-compliance in managing and reporting travel spend because of siloed applications and antiquated technology solutions. Given that travel is one of the largest discretionary spending areas for organizations world-wide, interoperability in the space is crucial."
Currently, many organizations ask employees to use personal credit cards for business travel. This process creates a set of problems: delays, non-compliance, overspending, and dissatisfaction. Furthermore, finance is often the "last to know", and therefore has no way to anticipate and plan for spend. With the Zact-ITILITE offering, organizations can instead issue budget-based corporate cards for specific trips, control which travel options employees use, and receive the data in real-time for expense reporting. All expenses are automatically reconciled and sent to the accounting systems. Compliance before the spend will be the new standard.
ITILITE CEO Mayank Kukreja called this partnership a game-changer for the space. According to Kukreja, "As the world moves back towards normalcy, business travel is making a strong comeback. With Zact's seamless payment platform, we now offer one of the quickest ways to get back on the road safely with a new level of ease." In addition to bringing in a powerful platform, ITILITE also offers an unmatched travel inventory, 24x7 support and best-in-class analytics to its users.
Zact's payments platform, with its suite of both proprietary and 3rd party applications, provides this interoperability natively. According to Zact CEO John Thomas, "The Zact platform with its rich application and APIs is ideally suited to complement ITILITE's comprehensive travel booking functionality & inventory."
About ITILITE (www.itilite.com)
ITILITE is an all-in-one platform to manage business travel and expense reimbursements. ITILITE powers 500,000+ users globally across small businesses to Unicorns & Fortune 500 companies. Through its unique savings led employee incentives, it helps companies reduce their Travel & Expense spend by up to 30% in a way employees love. Customers use ITILITE's powerful compliance along with the free 24/7 call, chat and email support to increase finance productivity and to keep their employees safe and happy.
About Zact (www.zact.com)
Zact is an intelligent payment platform, that allows for decentralized employee-level purchases, governed by centralized policy-based budget approvals. Architected exclusively to integrate payment networks and spend management in one solution, Zact effectively rejects out-of-policy expenses before the spend occurs-delivering unprecedented management of spend. By integrating payments and expenses at a transaction level, Zact automates expense reporting, continuously reconciles expenses and payments, and provides visibility of expenses in accounting systems without delays.
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