WEX, a provider of corporate payment solutions, has announced a partnership with Sydney-based Troovo Technologies, which will see both companies collaborating to unlock travel and B2B spend using Troovo Payments and WEX virtual cards in the Asia Pacific region.
WEX management projects the total payments spend in the APAC travel industry to grow by six per cent per annum over the next three years, the initial phase of the partnership will be focused on empowering travel businesses in APAC to realise the full benefits of virtual payments.
Troovo has developed intelligent Robotic Process Automation (RPA) solutions that enable industries such as travel, payment, and procurement to fully automate their workflows and processes. As these businesses typically transact across borders and process high volumes of data, RPA solutions are optimal to improve operational efficiencies, boost capabilities, and reduce processing costs.
Through this partnership, Troovo will provide WEX customers the ability to streamline virtual payments with no development effort, costs or changes to existing workflows.
Justin Cross, Director, Market Development APAC Corporate Payments for WEX said: “At WEX we believe in creating new possibilities at the intersection of payments, data, and technology. Our partnership with Troovo is the perfect marriage of these three elements. Troovo is a leading innovator in the travel technology space and partnering with them is a step forward in improving our service offering for our mutual and prospective customers.”
Troovo CEO, Kurt Knackstedt said: “The partnership will help travel agencies and corporate purchasing departments utilise Troovo’s fully robotic virtual payments module along with WEX virtual cards to help eliminate manual intervention in payments and streamline the entire purchase-to-pay workflow. Troovo’s world-first, patent-pending robotic engine gives WEX customers quick wins using virtual payments to streamline the hassle of paying suppliers.”