HDFC Bank launches corporate credit card powered by SAP Concur solutions and Mastercard to eliminate out-of-pocket cash expenses for employees and prevent fraudulent claims
SAP® Concur®, the world’s leading brand for travel, expense, and invoice management solutions; HDFC Bank, India
To help facilitate this, HDFC Bank will be offering a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips. The corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency. The card is supported by Mastercard.
Challenges Facing Business Travellers
As per a recent SAP Concur survey conducted amongst 500 Indian business travellers:
1. Thirty-one percent were stressed about filing expense reports after a business trip in the middle of a busy workday.
2. Owing to the existing gap in business travel expense management solutions, the survey also revealed that 32% of employees lost over INR 7000 of their personal money on a travel related business expense that wasn’t reimbursed.
HDFC Bank & SAP Concur solutions corporate program powered by Mastercard
The offering from HDFC Bank and SAP Concur solutions is designed with such user challenges in mind, ensuring that business travellers have a stress-free and productive trip.
The key benefits of the partnership include:
1. Upfront visibility and control of spends: All business spends incurred by an employee are populated in Concur Expense to ensure faster claim submission, processing, and reimbursement in compliance with the organisation’s policies.
2. Cashless payment and digital claim process: Minimizes the need to carry cash and delivers efficiency and accuracy in employee reimbursements.
3. Integrates partner apps: Provides the advantage of a connected ecosystem by leveraging partnerships with Uber for Business, Booking.com, Airbnb, Hilton and other partners.
4. Global Wi-Fi: Complimentary Wi-Fi services across airports, flights, and restaurants that will keep travellers connected without worrying about roaming fees, unsecured connections, or configuring SIMs.
5. Complimentary lounge program: Provides several complimentary lounge visits at international and domestic airports.
SAP Concur solutions can help corporates more efficiently manage their travel and entertainment expenses, the second-largest controllable line item in the financial statement. The SAP Concur mobile app helps travellers manage their trips and expenses from a smartphone or tablet. Business travelers can effortlessly book their travels and file expenses on the go, while having the advantage of accumulating additional bonus reward points and trip credits.
HDFC Bank and SAP Concur solutions Corporate program powered by Mastercard offer best in class reward points, complimentary travel insurance coverage, complimentary lounge access, global Wi-Fi access and Corporate Liability Waiver Insurance (CLWI). Along with these unparalleled benefits, the solution facilitates cashless payments, offering an enhanced employee experience. Expenses can be tracked through electronic card feeds, eliminating errors and increasing visibility at all times.
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