Corporate accommodation technology provider WWStay has launched a new direct billing platform that the company says has significantly driven down reconciliation time for its initial clients.
WWStay, which provides an online booking platform specializing in long-term stays usually between three weeks and six months, developed the Corpayze platform out of its own internal platform that it had used for supplier payments. Its core clientele is segments such as construction that tend to need housing primarily for contractors or other non-employees, who do not have corporate cards for payment, cofounder and CEO Rajeev Goswami said. That brings its own set of challenges, he said.
“The invoices get delayed, the hotels take their own time to pay the invoices, and there are so many changes in the bookings that they need to be reconciled,” Goswami said. “There are always problems back and forth.”
With the Corpayze platform, WWStay takes over that payment process, providing an end-to-end service with the suppliers from which it also provides bookings, he said. WWStay takes a payment method from the company, such as a corporate card, then ensures all payments are made to supplier on time and reconciles the payments. It can apply to companies that booked accommodations through WWStay, or it can integrate outside bookings as well, according to Goswami.
The reconciliation also can handle paying for incidentals during a stay if needed by customers, including controls around how much is spent. WWStay can help identify issues such as improper charges if a guest must check out early, for example, he said.
A few clients in the United States have been initial users, and one, a construction company, said that reconciliation used to take four or five days, or sometimes even a month, Goswami said. Now it typically takes 15 to 20 minutes, he said.
WWStay also provides a helpline to help employees if they have any issues with payment when checking in, he said.
“Sometimes the front desk staff does not have the information, or the hotel forgot to put it on file,” Goswami said. “That happens a small percentage of the time, but it can cause dissatisfaction for the customer.”
