TRIPACTIONS
every penny , says Gandhi , and they need the detailed level of information — in real time — that tech-forward solutions can provide . “ Knowing the exact state of the business in real time can allow companies to make better financial decisions ,” he says .
With the digitisation of payments and people located all over the world , a lot of spending ( that ’ s not T & E and not procurement ) can happen with a virtual card . TripActions Liquid allows a company to generate a virtual card for a single vendor that the company can refill with a certain amount of money every month , quarter , or year .
Gandhi explains , “ As an example , I can get a single purchase card for my NetSuite membership that renews every year for $ 5,000 and only works with that vendor . Tracking spending with that kind of visibility and control is pretty powerful — not only for me as a user , but also for my finance team .”
Another money-saving benefit of techforward solutions : a reduction in fraud . With so many businesses relying on remote workers and online commerce solutions during the pandemic , the opportunities for hacks and breaches have skyrocketed . Gandhi believes that context-driven data , coupled with artificial intelligence ( AI ), is the most efficient way to monitor transactions , secure data , and avoid attacks .
That ’ s why the company built TripActions Liquid with AI functionality . “ We can notice trends that could indicate fraudulent behavior more quickly , so companies can stop bad actors and keep company funds safe ,“ he points out .
AI can also use receipt and merchant data to better categorise spend and improve how transactions are classified , making it more seamless for employees and finance teams to reconcile without manual intervention .
Customer centricity A focus on the user lies at the heart of many business strategies these days , especially in fintech . For TripActions , customer centricity
“ While it ’ s been a difficult time for us in the travel industry , we ’ ve been able to really innovate and prepare for our customers to get back to normal ”
ROBIN GANDHI SENIOR VICE PRESIDENT OF PRODUCT MANAGEMENT AND PAYMENTS , TRIPACTIONS