WEX, a corporate payments solution provider has partnered with Australia-based Troovo Technologies to integrate robotic automation to generate virtual cards which will provide customers the ability to streamline virtual payments with no development effort, costs or changes to existing workflows.
The initial phase will focus on empowering travel businesses in APAC to fully utilise the benefits of virtual payments.
According to Troovo CEO Kurt Knackstedt, the collaboration will target travel agencies and corporate purchasing teams, allowing them to “utilize Troovo’s fully robotic virtual payments module along with WEX virtual cards to help eliminate manual intervention in payments and streamline the entire purchase-to-pay workflow.”
“At WEX we believe in creating new possibilities at the intersection of payments, data and technology,” said WEX Director of Market Development Corporate Payments APAC Justin Cross in another statement. “Our partnership with Troovo is the perfect marriage of these three elements. Troovo is a leading innovator in the travel technology space and partnering with them is a step forward in improving our service offering for our mutual and prospective customers.”
Robotics process automation is an increasingly disruptive force in B2B FinTech. According to Harel Tayeb, CEO of RPA company Kyron Systems, the technology “offers any business that relies on rule-based processes, whether that be financial or otherwise, the opportunity to boost profitability, increase operational efficiency and maintain a competitive advantage by automating much of the high-volume and repetitive processes.”
Imagine big businesses taking advantage of technological advancement, will surely impact customer experience which will increase significantly the sales. Though many are still hesitant about robotic engines taking over manual intervention, think about the efficiency and accuracy rule-based workflow can bring. Moreover, it can save a person from doing repetitive and laborious data entry task.
Service improvement and reducing hassle of customers will bring quick wins to businesses in the long run.
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