- Slash and burn approach to corporate travel is hurting more than
helping most companies
- Innovative dashboard from BMO helps companies get their teams back on
the road doing business
- Organizations can leverage rich spending data to make immediate and
effective changes in travel policy
NBTA INTERNATIONAL CONVENTION & EXPOSITION, SAN DIEGO, Aug. 24 /CNW/ -
<a href="http://www.bmospendandpayment.com/">BMO Spend & Payment Solutions</a>, a division of BMO Financial Group (NYSE, TSX:
BMO), today announced a <a href="http://www.bmospendandpayment.com/news.html">strategic partnership</a> with Tri-Pen TravelMaster
Technologies (TravelMaster(TM)). The agreement is the first of several
partnerships that BMO will announce over the next several weeks pertaining to
the BMO Business Travel Alliance, a consortium of world-class vendors
committed to helping customers eliminate inefficiency, improve business
practices and controls and drive better terms and prices with preferred
The partnership with TravelMaster addresses a compelling need in business
today: how to keep teams on the road - meeting with customers, prospects and
partners - and at the same time, keep costs at a minimum. Combining BMO's
corporate card and spend management solutions for managing the entire
procure-to-pay travel lifecycle and TravelMaster's decision support tools
delivers an innovative dashboard that consolidates global T&E data for fast,
accurate analysis and complete visibility and control over <a href="http://www.bmospendandpayment.com/paymentsolutions.html">corporate travel
"Organizations are quickly realizing that slashing travel budgets has a
downside, especially as we fight our way out of the recession," said Terry
Wellesley, Managing Director, BMO Spend & Payment Solutions. "We believe
there's a way to get people back out there doing business, without exponential
cost increases. That's the vision behind our partnership with TravelMaster:
What you can see, you can control."
BMO supplements standard travel addendum data with its own proprietary
card data to create purchase detail specific to the unique needs of clients.
When added to booking data and brought into the TravelMaster dashboard, travel
managers, purchasing and financial executives can quickly and easily see and
analyze a wide range of information on T&E expenditures. Reports are intuitive
and include a high-level view, as well as drill-down capabilities. The
dashboard provides answers to critical questions:
- What is the variance of booked versus actual expenditures?
- Was the booking within corporate policy?
- What potential savings did we leave on the table?
- What is our transaction pattern with our top vendors?
- What are the transaction patterns of individual travelers?
In many cases, organizations can leverage the data to make immediate and
effective changes in travel policy based on trends and actual usage before the
charge hits the corporate card.
"T&E purchasing is such a complex area to manage. By adding TravelMaster
to BMO MasterCard programs, clients benefit from a cohesive application with
all the tools and analytics everyone in the company needs. There's immense
potential for savings and leverage by applying the right spend management
principles to T&E," said Victoria Wofford, President of Nevada-based Tri-Pen
TravelMaster Technologies. "We're very pleased to be working with BMO Spend &
Payment Solutions to help companies capitalize on those opportunities to make
T&E dollars work harder."
"The demand for T&E spend visibility and control continues to increase,"
said Mr. Wellesley. "BMO remains at the forefront in providing its clients
with the products and technologies that enable them to deliver ongoing
efficiencies to their managed business travel programs."
About BMO Spend & Payment Solutions
A division of BMO Financial Group, BMO Spend & Payment Solutions is the
seventh largest commercial card provider and a leading provider of spend
management solutions in North America. BMO products are widely used by
corporations and government sector organizations to manage, control and gain
better visibility into their commercial spending. Through Harris N.A., a
Midwest-based and wholly owned subsidiary of BMO Financial Group, BMO Spend &
Payment Solutions offers a comprehensive range of financial products and
services to U.S. public and private sector organizations.
BMO Financial Group is one of the largest providers of diversified
financial services in North America with average assets in excess of $430
About Tri-Pen TravelMaster Technologies
Tri-Pen TravelMaster Technologies LLC, is a technology development
company specializing in Total Travel Cost Management(R) technology
applications. Our flagship product TravelMaster(TM) is the first-ever
Interactive Travel Management System(TM) which provides comprehensive
integration of real-time corporate card and travel data in a single
application and a complete suite of tools providing Actionable Intelligence(R)
for corporate travel management. More information on TravelMaster(TM) and
Tri-Pen TravelMaster Technologies LLC can be found at www.TravelMaster.com or
For further information:
For further information: For news media inquiries: BMO Financial Group:
Ralph Marranca, Toronto, (416) 867-3996, Ralph.Marranca@bmo.com; Ronald Monet,
Montreal, (514) 877-1873, Ronald.Monet@bmo.com; Internet:
http://www.bmospendandpayment.com/index.html; Corporate Ink: Nina Gill, (617)