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EDF Energy’s annual travel spend is around £15 million per year. The company’s existing system for booking travel was complex and fragmented, meaning EDF Energy had no single, comprehensive view of travel spend across the company and reconciliation was an administrative headache.
To help simplify business travel, EDF Energy had a clear objective: to consolidate and streamline bookings through as few channels as possible and to have payments centrally settled. American Express worked closely with EDF Energy to create ‘vPayment Traveller’; a new solution making use of virtual accounts. Each employee has an account lodged behind their profile in the company’s online booking tool, which could be restricted with a general transaction limit, total monthly limit and overall budget.
The solution helped give employees at EDF Energy a seamless process for booking business travel, coupled with easily reconcilable payments, greatly reducing the time and cost of expense claims. For the management team, the single, highly secure payment solution meant unauthorised spend was reduced, and they could easily reconcile spend against each employee traveller and cost centre. The challenges of reconciling payments, attributing costs and reimbursing staff have all but gone.
Find out more about American Express vPayment here.