Accounts Payable & Receivable for Travel
Travel
6-9 months
5 phases
Step-by-step transformation guide for implementing Accounts Payable & Receivable in Travel organizations.
Why This Matters
What It Is
Step-by-step transformation guide for implementing Accounts Payable & Receivable in Travel organizations.
Is This Right for You?
45% match
This score is based on general applicability (industry fit, implementation complexity, and ROI potential). Use the Preferences button above to set your industry, role, and company profile for personalized matching.
Why this score:
- • Applicable across related industries
- • 6-9 months structured implementation timeline
- • Requires significant organizational readiness and preparation
- • High expected business impact with clear success metrics
- • 5-phase structured approach with clear milestones
You might benefit from Accounts Payable & Receivable for Travel if:
- You need: Modern ERP with API
- You need: Bank integration for payments
- You need: Clean vendor and customer master data
- You want to achieve: Overall reduction in processing time by 50%
- You want to achieve: Achieve 90% automation rate for invoice processing
This may not be right for you if:
- Watch out for: Data fragmentation and complexity due to multiple booking systems
- Watch out for: Handling multi-currency and cross-border payments
- Watch out for: Complex commission structures causing reconciliation delays
What to Do Next
Start Implementation
Add this playbook to your workspace
Implementation Phases
1
Assessment & Preparation
4-6 weeks
Activities
- Evaluate current AP/AR processes and systems
- Clean vendor/customer master data
- Confirm ERP and bank API readiness
- Secure AP/AR team buy-in and training plan
- Identify travel-specific needs (multi-currency, commissions, BSP/ARC compliance)
Deliverables
- Assessment report on current processes
- Cleaned vendor/customer master data
- Training plan for AP/AR team
Success Criteria
- Completion of assessment report
- Master data cleaned and verified
- AP/AR team trained and ready for next phase
2
Invoice Capture & Data Extraction Automation
6-8 weeks
Activities
- Deploy AI-powered OCR and NLP for invoice receipt and data extraction
- Integrate with booking engines and travel management software for automatic invoice generation
- Automate commission tracking and supplier payment methods
Deliverables
- Operational OCR and NLP system
- Integration with booking engines
- Automated commission tracking system
Success Criteria
- Reduction in manual invoice entry time by 50%
- Successful integration with at least 2 booking engines
- Commission tracking automated for 80% of suppliers
3
Verification & Approval Workflow Automation
6-8 weeks
Activities
- Implement 3-way matching (invoice, purchase order, delivery receipt)
- Automate invoice verification and exception handling
- Configure approval workflows with status tracking and mobile approvals
Deliverables
- 3-way matching system implemented
- Automated exception handling process
- Configured approval workflow system
Success Criteria
- 90% of invoices processed without manual intervention
- Reduction in invoice verification errors by 70%
- Approval workflow completed within 48 hours for 90% of invoices
4
Payment Scheduling & Execution Automation
6-8 weeks
Activities
- Integrate payment scheduling agent analyzing cash flow and payment terms
- Automate payment execution via ACH, wire, virtual cards
- Enable multi-currency and cross-border payment handling
Deliverables
- Payment scheduling agent operational
- Automated payment execution system
- Multi-currency payment handling capability
Success Criteria
- Payments executed on time for 95% of invoices
- Reduction in payment errors by 80%
- Successful handling of multi-currency transactions
5
Reconciliation & Reporting Automation
4-6 weeks
Activities
- Automate payment reconciliation with bank statements
- Flag discrepancies and duplicate payments
- Generate real-time cash flow, commission, and financial reports
Deliverables
- Automated reconciliation system
- Discrepancy reporting tool
- Real-time reporting dashboard
Success Criteria
- Reconciliation completed within 24 hours for 95% of transactions
- Reduction in discrepancies flagged by 75%
- Real-time reports generated with 100% accuracy
Prerequisites
- • Modern ERP with API
- • Bank integration for payments
- • Clean vendor and customer master data
- • AP/AR team buy-in
- • Multi-currency and multi-language support
- • Commission management system integration
- • Integration with travel-specific systems (BSP/ARC)
Key Metrics
- • Invoice processing time reduction
- • Percentage of invoices processed without manual intervention
- • Reduction in payment errors and duplicate payments
- • Days Payable Outstanding (DPO) optimization
Success Criteria
- Overall reduction in processing time by 50%
- Achieve 90% automation rate for invoice processing
Common Pitfalls
- • Data fragmentation and complexity due to multiple booking systems
- • Handling multi-currency and cross-border payments
- • Complex commission structures causing reconciliation delays
- • Resistance to change from AP/AR teams
ROI Benchmarks
Roi Percentage
25th percentile: 1.5
%
50th percentile (median): 3
%
75th percentile: 4.5
%
Sample size: 50