Bottom line—you need one efficient solution that combines payment with information to help your company reduce costs, streamline operational and payment processes, and make more informed business decisions.
Over 80% of companies surveyed recognize that electronic payment methods like credit cards provide easier access to more transparent financial data, which can reduce costs and enable better management of cash flow.1
The Visa Meetings Card offers a flexible procure-to-pay solution to help you simplify the process to purchase, pay, reconcile, and report on expenditures incurred by your company for meetings and events. Unlike traditional payment methods such as cheques or wire transfers, which provide limited data and information, the Visa Meetings Card offers more than just an electronic payment solution—it provides your company with a strategic tool to plan meetings, manage budgets, and reconcile expenditures more efficiently.
Ensure Compliance with Corporate Policies
The Visa Meetings Card allows you to track event-related purchases separately from routine business travel or procurement expenses, and provides adequate spend limits to pay for meeting-related expenses, such as group airfare, hotel room blocks, conference facilities, and delegate meals—to name just a few. Additionally, a Visa Meetings Program helps enable:
- Compliance with your company’s meeting and event policies
- Visibility into consolidated meeting spend across departments, divisions, and subsidiaries for your entire organization
- Flexibility to assign cards or virtual accounts (accounts without a physical card for use by multiple persons) to track expenses by meeting, department, cost center, supplier, or spend type
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Increase Control over Meeting and Event Spend
Single or multiple cards can be issued with spend limits that tie to the approved budget, allowing you to ensure expenses stay within budget for each meeting. Your company may choose to manage meeting spend via accounts with a preset amount that declines with purchases.
Additional controls may also be assigned to each Visa Meetings Card through transaction limits and selective merchant category acceptance to ensure employees comply with corporate policies. Moreover, your company is protected from any potential employee misuse with Visa’s Corporate Liability Insurance, providing you with additional peace of mind.
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Offer Convenience, Flexibility, and Security to Meeting Planners
With a Visa Meetings Card, your meeting planners have immediate and convenient access to funds to pay for event-related purchases online, by phone, or at a supplier location.
Credit cards can reduce the processing cost per transaction by up to 75%.2
By reducing manual reconciliation and payment processes associated with paper-based purchase order, invoice, and cheque processing, a Visa Meetings Card allows your meeting planners to focus their attention on managing meetings and events more effectively.
- Virtual accounts (accounts without a physical card for use by multiple persons) provide meeting planners with the flexibility to meet supplier payment deadlines, such as initial deposits to book a meeting venue
- Meeting planners may also obtain cash advances at an Automated Teller Machine (ATM) or bank branch to pay for cash expenses, including gratuities to hotel staff
- The Visa Meetings Card can help your meeting planners produce a successful event—domestically or globally
- Optional benefits such as travel accident insurance, lost luggage reimbursement, trip delay coverage, hotel burglary reimbursement, travel emergency services, and more, may be assigned to the Visa Meetings card to help provide security and protection3
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Maximize Supplier Relationships
The Visa Meetings Card could help you build stronger relationships with your suppliers, because your suppliers may enjoy cost savings through streamlined order placement and are guaranteed prompt payment. These benefits could further enhance your ability to negotiate favourable pricing with your suppliers.
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Improve Visibility into Meeting and Event Spend
Web-based data and reporting tools available through Visa Information Management (VIM) can help you manage your Visa Meetings Card spend more efficiently, cost effectively, and securely.
- Access transaction details and e-folio data from hotels, airlines, and other suppliers (where available) through easy-to-read reports, cost allocation and expense reporting tools, cardholder statements, and file extract capabilities.
- Automatically consolidate spend data for your Visa commercial card programs (including Visa Meetings, Visa Purchasing, Visa Corporate, and Visa Commercial Cards) across all departments, divisions, and subsidiaries to provide management with an aggregate view of all business travel, procurement and meeting-related expenses.
Visa Meetings Card transaction data can also be delivered to facilitate integration with your enterprise resource planning (ERP), expense or meetings management, and general ledger systems. This information helps provide insight into all your organizational spend in one place while saving time in reconciling expenses to cost center and general ledger accounts.
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Enjoy End-to-End Meeting and Event Management Support
In order to bring you a complete, end-to-end strategic meeting management solution, Visa has formed a strategic alliance with Arcaneo, developer of the Metron meeting management software, to integrate Visa Meetings Card transaction data into Metron. Metron can help you manage the entire meeting planning process including:
- Managing budgets and tracking costs
- Integrating Visa Meetings Card transaction data
- Tracking meeting requests and events calendar
- Researching facilities, suppliers, and travel options
- Preparing and issuing RFPs for suppliers
- Researching and employing industry best practices
- Managing site selection, meeting room layout, and attendee reservations
- Organizing agenda and meeting sessions
- Publishing online forms for attendee registration, surveys, evaluations, and e-mail campaigns
- Coordinating attendee invitation and registration
- Evaluating meeting results
- Quantifying return on investment for meetings
- Preparing reports for senior management
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