Starwood is fortunate to be part of this collaborative effort with ARC to help create a product that will be beneficial, useful and efficient for the hospitality industry, globally as well as for our valued partners
Arlington, VA (PRWEB) August 24, 2009
With the introduction of ARC PayABill - a Web-based electronic invoicing and settlement tool - ARC has taken a significant stride forward for a travel industry seeking to eliminate the cost and waste associated with paper invoice processing. In order to create a product that accurately addresses the specific demands of the industry, ARC's technology developers and product designers worked directly with hotel and wholesaler customers representing both billers and payers. Critical assistance with product development came from global hotel and resort representatives as well as MLT Vacations and GTA North America.
"Starwood is fortunate to be part of this collaborative effort with ARC to help create a product that will be beneficial, useful and efficient for the hospitality industry, globally as well as for our valued partners," said Duncan Kennedy, Director, Connectivity & Booking Solutions for Starwood Hotels & Resorts.
ARC PayABill is intended to sharply reduce customer expenses by allowing one trading partner to connect to multiple trading partners within a single paperless system. ARC PayABill aims to address the costly pain points associated with paper billing while providing a way for direct bill partners to communicate, resolve disputes, and even connect to new partners - all online.
Invoice settlement utilizes ARC's trusted reporting and settlement technology, the standard of the airline and travel agency distribution system for nearly half a century. An initial August 2009 product launch exclusive to the development partners will be followed shortly by an industry-wide launch open to the entire global hotel market and their wholesale partners.
"Our company processes payments for approximately 1,500 land vendors and we've dealt with the challenges of receiving invoices in many different formats. ARC has addressed the need for a standardized invoice format to simplify invoice processing for the properties and tour operators. This functionality was long overdue and we appreciate the fact that ARC is building this product based upon the input of the end user," states Joan Lambert, Manager of Accounting Operations, MLT Vacations.
ARC PayABill Key features include:
- Access to online bills in an easy to read format. Eliminates paper, mail, email, fax, and the need for manual data entry or costly document scanning.
- PayABill's Online Dispute Resolution makes it easy for direct bill partners to communicate and resolve billing disputes.
- Simplified Payment Processing - wholesalers that choose ARC's trusted ACH processing can maintain control over their cash flows through options such as full or partial payments and the ability to schedule payments in advance.
- Provides hotels with consolidated payments on a reliable schedule, along with the financial reporting necessary to manage cash flows. All parties manage their own banking information through secure banking profiles.
- Reduces storage costs by providing online access to current and historical data, along with the ability to download invoice, billing and dispute data in a variety of formats.
- ARC maintains PCI Data Security Standard Certification and leads the industry to ensure the privacy and security of information.
- Hotels and Wholesalers improve direct bill partnerships and maximize revenues by reviewing centralized leisure sales trends via ARC PayABill reporting functions.
- ARC PayABill also provides integrated direct bill networking capabilities to help establish connections to new direct bill partners, accelerating the cost savings achieved through electronic invoicing and optional settlement.
Customer inquiries regarding ARC PayABill sales may be directed to +1.713.812.7399.
About ARC - ARC is a technology solutions company providing transaction settlement and data information services.
Airlines, travel agencies, corporate travel departments, railroads, and other travel suppliers process up to $80 billion annually through ARC's world-class settlement system, making it the financial backbone of travel distribution. ARC COMPASS®, the leading, trusted source for travel transaction information, powers data and analytical tools that help ARC customers make confident business decisions. For more information, please visit arccorp.com.
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