Leading meeting management tech innovator to showcase highly anticipated advancements that digitize budgeting, expense, travel, and invoice management for groups and meetings travel at GBTA in San Diego
GBTA, San Diego (August 15, 2022) – Groupize, the industry’s most innovative platform for enterprise-wide meeting and event management, today announced the launch of new functionality to centralize and streamline all expenses and payments around events. The company is a featured exhibitor and presenter at the 2022 GBTA convention in San Diego, which takes place August 14th – 17th.
Event attendees and media are invited to visit the Groupize booth #1615. Groupize will also be featured at Tech Safari Live on Wednesday, August 17th at 11:30 AM. The GBTA Technology Committee is launching Tech Safari Live at this year’s convention to highlight eight companies providing new and innovative technology solutions.
Traditionally, the spend for meetings, events, team management, and projects can represent as much as 68% of T&E in a corporation without any expense automation. Today, the information resides in various departments or systems without aggregated views of the entire spend. Groupize’s new functionality captures spending from multiple sources. For example, fixed costs for meeting space and food and beverage on a hotel invoice are automatically combined with air and car spend in SAP Concur® Travel with the room block consumption to create a consolidated view of the total cost.
Highlights of the new functionality include:
- Ability to create, submit, review, and approve expense
- Centralized invoices and folios in a single platform
- View status, balances, and payment due dates
- Workflow for payments and requesting cards
- Payment tracking by credit card, virtual card, check, or ACH
- Capture travel expenses, no matter where it’s booked
- SAP Concur® Travel integration for air, car, and hotel spend
- GDS PNR integration from passive segments or full-service ticketed itineraries
- Hotel room utilization and audit reports data
- Cancelation fees, attrition, and commission tracking
- Attendee types for expenses combined with HCP tracking and transfer of value reports
- Approve and prepare payment batches
- Multi-currency
- Uploads and exportable reports
- Cost center, budget center, and department codes
- Actual vs. initial budget and savings reports
“The holy grail for procurement and expense managers is to capture and streamline AP processes around a large portion of invisible and manual spend,” explains Charles de Gaspe Beaubien, Chief Customer Officer of Groupize. “We listened to the demand of our largest customer who spends upward of $50M on projects and needed automated spend visibility and reconciliation across hundreds of events. Their reconciling processes for virtual card payments was unmanageable using spreadsheets, so we stepped in to solve the problem.”
“The last mile in a meetings program is the auto-reconciliation,” adds de Gaspe Beaubien. “We are committed to our vision, and continued investment into creating a transformative end-to-end Fintech platform for all events, from small to large. The platform roadmap includes additional expense system integrations, payment card providers, and automated folio and reimbursement processes.”
