Where We’re Investing in 2017

As we finished 2016, we took time to look across our solutions and take stock of where we stood. Our goal is to make strong investments in our core platforms, adding new capabilities to enable you to make better business decisions, and listening to feedback from you, our customers and our partners.

2016: A Year Of Change

Last year was a year of swapping out and upgrading the old with the new at Cornerstone. We focused on making architectural changes to our iBank® software platform – changing the entire report production and distribution code base.  These efforts will allow you to create the reports and analyses that you need faster and with more flexibility. Requests that used to require engineering development can now be managed through configuration.

We also ensured our existing redundant and robust systems are ready for future growth. We increased the capacity of our server cluster and moved to all-flash memory solution. Our investment into the all-flash memory technology provides the foundation for next-generation business applications as well as bolstering support of real-time analytics. This new structure gives us eight times the input/output per second that we had previously as well as sub-millisecond latency.

We also released our TravelOptix™ software platform in 2016, as well as our new AutoPay™ product. TravelOptix provides you the flexibility to load data from virtually any data source, including spreadsheets, databases, operational systems, ERP, and web sources. Additionally, TravelOptix gives you the control to cleanse, transform, and unify multiple disparate data sources without requiring external tools. TravelOptix allows you to tell your own story on a responsive platform. The self-service data visualization enables you to answer your own questions on the fly, from any device, with data governance for your back office and reservation data built in.

AutoPay enables you to request virtual cards from within your desktop workflow, automates the generation of the virtual card numbers with the financial institution, provides that information back into the booking and passes enriched data to your back-office systems for 100% reconciliation. We partnered with two leading payment aggregators this year – eNett and Conferma. This ensures we can provide you full range of capabilities and options that best fit your individual needs.

2017: Where We Are Going

We remain committed to our mission in 2017. This year we plan to enhance our unique domain knowledge around travel data – from how travel is operationalized to how information is managed.

We remain committed to helping our customers manage their process and information, to drive better decision making. Our focus continues to be on travel data, from the management of the reservation to the creation and presentation of information.

As we enter 2017, we want to build on the progress we made in 2016 with three main areas of investment.

1) Investing in system infrastructure

We will focus on enhancing and upgrading our access to our partners, especially our GDS partners. This includes updating some of our APIs and web service calls, as well as capturing reservation data in new ways. Much of this work happens in the background – you will see the benefits in faster access to data, quicker processing times, and greater continuity of data.

We know that process times and system reliability are critically important for your business. We maintained our 99.99% uptime in 2016, and our goal is to continue provide that exceptional level of performance.

2) Expanding data capture capabilities

One of the most valuable capabilities of our TravelOptix platform is its ability to load and analyze data from any source. A critical area of focus for us in 2017 is to expand the data connections we have.

This includes building new partnerships to add data sources, and building custom links for our customers. We are evaluating the best methods of bringing data into our unified environment, so that you can view everything from reservation data to expense and human resources data in one place. This also benefits our Policy Compliance Manager™ product as well as AutoPay.

Expanding our data capture capabilities ensures that we can continue to uncover insights for your business, helping you make data-driven decisions.

3) Launching 4site™ platform

One of the areas we are most excited about is the market release of 4site. You may have seen glimpses of this Innovation Team project over the last year and a half. We have iterated our 4site platform a few times and the result is a data-driven platform designed to manage travelers before and during travel, anticipating disruptions before they happen.

We are developing 4site to use predictive intelligence to calculate the most likely scenario at any given moment, allowing the traveler, corporate travel manager, and travel management company to respond in real time.

We think that 4site will be one of the most exciting set of capabilities we bring to market in 2017.

 

Questions? Feel free to contact your Cornerstone account manager or email ask@ciswired.com.

 

 

Conferma and Cornerstone Partner to Create an Unparallelled End-to-End Automated Payment Solution

MANCHESTER, UK and BLOOMINGTON, IN, USA (November 15, 2016) – Conferma, a leading FinTech company specialising in virtual card technology, has partnered with CornerstoneTM Information Systems to extend Cornerstone’s unique AutoPay solution. The partnership will enable Cornerstone, a leading global travel technology and services provider, to offer its customers credit-based virtual payment solutions for the first time.

Conferma and Cornstone have partnered because their complementary products create a powerful automated payment solution. Cornerstone’s AutoPay enables the operationalization of virtual payment while Conferma has built an unbridled network of banking partners globally.

This partnership creates a seamless automated GDS agnostic solution that is completely integrated into the agency workflow. Cornerstone’s integration into the front-end agent desktop across all major GDSs complements Conferma’s aggregated back-end payment services to create an unparalleled end-to-end automated payment solution. This complete solution allows for the generation of both prefunded and credit based virtual cards within the agent workspace without any changes to their normal booking workflow.

The partnership will also connect Cornerstone’s clients to Conferma’s vast payment ecosystem which supports virtual cards issued in 40 currencies across 193 countries. With a choice of over 25 major card issuing companies and key local names, this partnership gives travel management companies the flexibility to work with their corporations to deliver tailor made virtual payment solutions.

“Our customers have enjoyed the benefits of virtual payment since we introduced AutoPay, and we are committed to enhancing the solution with additional payment options,” says Mat Orrego, CEO of Cornerstone Information Systems. “Conferma’s extensive payment infrastructure allows us offer a more flexible solution to travel management companies that enables them to provide their corporate customers with more payment options.”

Simon Barker, CEO of Conferma adds, “We share Cornerstone’s passion for more efficient corporate travel booking processes, and our combined knowledge and networks within the travel industry makes this a very valuable partnership. Conferma`s credit funded virtual cards and our ever expanding issuing network are ideal for Cornerstone’s TMC and larger corporate travel buyer clients.”

About Conferma

Conferma is a leading FinTech company specializing in Virtual Card technology. A global company, managing transactions in 96 currencies in 193 countries, Conferma is headquartered in Manchester, having been founded by CEO Simon Barker in 2005.

With 80% of Buying Business Travel’s Top 50 TMCs using Conferma, it is an industry standard for corporate travel payment. Conferma’s Virtual Card technology is mainly about simplifying over-complicated processes in Travel and Expense (T&E) payments. It is the gateway between commercial card issuers and the travel community.

Conferma’s many established travel partners include all three Global Distribution Systems (GDS), Sabre, Amadeus and Travelport; leading corporate Travel Management Companies (TMCs) such as CWT, HRG, AMEX GBTA; online booking tools and other booking technology providers. Part of Conferma’s ecosystem are all major card schemes, American Express, Diners, MasterCard and Visa, and over 25 commercial card issuers globally including Barclaycard, Bank of America and Citi.

https://www.conferma.com

About Cornerstone

Cornerstone™ Information Systems is a global technology and services provider that has a unique domain knowledge in the travel industry, from how travel is operationalized to how information is managed. With a foundation in automation, we design, build, and deliver technology for travel companies and corporate buyers. We help our partners manage their process and information, to drive better decision making. Cornerstone has a single focus on travel data from the management of the reservation to the creation and presentation of information. The result is higher quality customer service and nimbler operational responsiveness at a lower cost with fewer resources yielding higher profit. We are people-centric, service-focused, and technology driven.

Companies managing more than $25 billion in travel spend annually trust Cornerstone to help them proactively lower the costs of travel management and drive revenues through travel optimization. Founded in 1992, Cornerstone Information Systems is a privately held company headquartered in Bloomington, Indiana with customers in more than 50 countries.

To learn more, visit www.ciswired.com

For more information, please contact

Conferma Contact:

Charlotte Cloud

Conferma@skyparlour.com

+44 (0)844 2939 764

(00 44)7803 204 779

Cornerstone Contact:

Lauren Wolters

lwolters@ciswired.com

+1 812 727 2031

 

Cornerstone Integrates Credit-Based Virtual Payments Making AutoPay’s Value Even Greater

Cornerstone Information Systems (CIS) launched AutoPay last Spring to oprationalize virtual payments for travel management companies with the ultimate goal of creating a seamless end-to-end payment solution. As we continue to enhance our AutoPay offering, we have partnered with Conferma to bring our clients credit-funded virtual cards, expanding the payment options for our virtual card from only pre-funded to also credit-funded.

The partnership connects our clients to Conferma’s payment network that supports virtual cards issued in 40 currencies across 193 countries. With a choice of over 25 major card-issuing companies and key local names, this tech integration gives corporate travel agencies the flexibility to work with their customers to deliver tailor-made virtual payment solutions.

AutoPay goes far beyond the obvious benefits of instant payment and greater payment security, however. The aim of AutoPay is to operationalize virtual payments through seamless payment processes, improving the bottom line. Travel agents and managers can issue virtual cards for payment without ever leaving their GDS desktop workspace. They are better able to enforce travel policy, reconcile expenses, and report on the results – with no manual work.

When properly integrated with your existing technologies, virtual cards:

  • can be requested from any GDS
  • automatically associate with the booking for tracking and reconciliation
  • integrate with your reporting mechanisms, so you know if you are saving money through travel compliance and can quickly identify issues
  • result in fewer expense errors with less manual reporting from employees

At the end of the day, our concern is not so much about the banking details as it is ensuring that virtual cards become a seamless part of your operations. We aim to enhance your overall travel service and providing credit-based virtual payments is one more step in creating a superior payment solution.

To learn more about our solution, visit our AutoPay page and read our press release.