Removing the headache of managing supplier payments

High on the list of any Tour Operators list of headaches is the process of managing supplier payments, accurately accruing for costs, removing the huge amount of paperwork involved and ensuring that margins are tightly monitored. Travel Studio provides a tried and tested array of tools to manage this process starting with the flexible ability to accurately store contracted costs, automatically accruing these against reservations and then various methods to authorise supplier invoices. Suppliers can log into the Travel Studio Extranet to self-submit invoices, they can send in electronic invoices for auto-reconciliation against accrued costs or they can send traditionally via post or email and the internal reconciliation processes in Travel Studio can be used to match and approve. Obviously it is crucial to the automation benefits of this process that the subsequent data is automatically passed into the accounting system and Travel Studio ensures that this takes place via “out of the box” interfaces to a wide array of systems including Oracle Financials, SAP, Infor Sun Accounts, Microsoft Dynamics GP & NAV, Sage and many more. In recent developments, Open Destinations has further extended this functionality to store electronic copies of supplier invoices, provide individual user security for authorisation limits as well as extension of the number of analysis codes that can be included in the information exported to the financial system. All of this functionality is backed up with full audit trails, system reporting as well as by Open Destinations’ 24x7 Support Service.