With the Yokoy Smart Lodge Card we are further expanding our product portfolio to bridge the gap between business travel and expense management. Deeply embedded in our spend management platform, the digital-first card provides the basis for a 360° overview of travel spend, enabling companies to make data-driven decisions and realize untapped savings potential in business travel.
Yokoy is starting off 2023 right: we are excited to launch the new Yokoy Smart Lodge Card that bridges the gap between business travel and expense management by offering real-time data availability and fully automated reconciliation.
Issued as a Visa debit card for the EU market, this digital-first card is deeply embedded in our spend management platform and integrated with the systems of selected travel partners. Thus, travel managers and finance departments gain full transparency when it comes to managing business trips and assessing travel spend.
Making a staple of corporate travel smart
For some time now, companies have leveraged lodge cards to streamline their travel payments. A lodge card is a virtual corporate card that is stored in the travel booking tool of a company. All pre-trip expenditures for flights, trains and travel agency fees run through this single card – in some cases hotels can also be booked through a lodge card. This means that an employee can choose a flight or train ticket via the company’s online booking tool, which is then paid automatically with the lodge card.
With the introduction of the Yokoy Smart Lodge Card we are making this staple of corporate travel finally smart. Our approach: bringing together travel payments with a powerful spend management platform that enables fully automated reconciliation. As a manual process, reconciling travel invoices with transaction data is a major pain point for companies – it is a repetitive task that is not only cumbersome, but also error prone and costly.
Thanks to the Yokoy Smart Lodge Card, all travel and transaction data is now directly fed into our spend management solution, where it is reconciled without manual intervention. Thus, companies not only gain speed when handling travel expenses, they can also focus on projects that really add value.
Pooling the data for better insights
The Yokoy Smart Lodge Card also enables companies to pool all their travel data in one central place – our spend management solution. This creates full transparency over travel spend and forms the basis for new insights. Among others, companies can leverage these insights for advanced cost control: they can, for instance, evaluate how much is spent on an employee, department or project level.
This is a big boon for companies, especially in difficult times like these, where controlling corporate spend is everything. For finance departments it is more important than ever to make targeted decisions quickly and minimize unnecessary costs. Leveraging the Yokoy Smart Lodge Card is yet another step towards a fully data-driven decision-making process for CFOs and their finance department.
No fees, seamless integrations
The Yokoy Smart Lodge Card is integrated with the travel booking tools like TravelPerk and with travel agencies that leverage the travel profile data management service Umbrella. Integrations with additional market-leading travel companies will follow. Yokoy does not charge card, transaction nor foreign exchange (FX) fees. Also, companies receive 0.1% cashback on every transaction.