Baystate Health is a not-for-profit, integrated health care system serving over 800,000 people throughout western New England. With roots dating to the founding of Springfield City Hospital in 1873, Baystate Health has been providing skilled, compassionate health care in the Pioneer Valley for more than 140 years.
Baystate had 2 specific issues around credit card reconciliation. The first centered on the collection of key reporting data needed to assign payment to the correct business area. The second was the availability of credit card statement data. These issues added hours to the monthly reconciliation process, causing delays and inefficiencies.
The first step to solving these issues was to require the proper coding be added to the original travel request form. The documentation was updated and the travel manager required the coding before ticketing travel. The second step was contacting Bank of America to review how the information from vendors was sent to Baystate’s inhouse financial systems. Insights gained from this resulted in better and more consistent formatting for our reconciliation documents, enabling us to streamline the process and deliver results more quickly to our client.
Reconciliation can be a time-consuming process, but with the data provided by Corporate Traveler and the ability to feed into Baystate’s internal financial systems, the task was made much simpler and more effective.