MELBOURNE, Australia--(BUSINESS WIRE)--Sep. 10, 2018--
WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions,
today 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 6 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.”
About WEX
Powered by the belief that complex payment systems
can be made simple, WEX Inc. (NYSE: WEX) is a leading provider of
payment processing and business solutions across a wide spectrum of
sectors, including fleet, travel and healthcare. WEX operates in more
than 10 countries and in more than 20 currencies through more than 3,500
associates around the world. WEX fleet cards offer 11.5 million vehicles
exceptional payment security and control; purchase volume in its travel
and corporate solutions grew to $30.3 billion in 2017; and the WEX
Health financial technology platform helps 300,000 employers and more
than 25 million consumers better manage healthcare expenses. For more
information, visit www.wexinc.com.
About Troovo
Troovo makes travel and payment transaction
processing entirely virtual with Robotic Process Automation (RPA). The
RPA software that Troovo provides replicates the time-consuming work a
person would normally have to do, taking away the laborious task of data
entry and grunt work of processing travel and payment transactions.
Troovo's core customer base are high volume transactional operations
which see the benefit of using sophisticated yet easy-to-deploy robotic
solutions. These include travel agencies, travel management companies,
online travel agencies, airlines and corporate procurement and
purchasing. Troovo is a completely cloud-based, SaaS platform, and is an
Australian company with offices in Sydney and Melbourne.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180910005838/en/
Source: WEX
WEX Contact:
Red Agency
Rekha Indiran, +65 6317 6715
rekha.indiran@redagency.asia
or
Troovo
Contact:
Network Four
Rick Willis, +614 11839344
rick@networkfour.com.au