Hertz
The Hertz Corporation is the only true global car rental company and the Hertz brand is one of the most recognized in the world.
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Industry
Transportation and logistics
Company Type
Public
Employees
24000+
Annual Revenue
$9.8 Billion
$5.3B
Rental agreements and invoices per month across 100,000 pricing rules
40K+
Partners (Tours, Licenses, Travel Agents, Etc) Paid
12K+
Commissions and concession contracts
43,600
Licensee locations globally
Challenge
- Manage different commission programs
- Inaccurate commission settlements leading to claim adjustments
- Manage franchise revenue share and intercompany revenue splits
- Visibility to rental agreements and related commissions
Solution
RecVue helped Hertz integrate their billing and compensation into a single system of record, automate the key elements of accrual and streamline settlement of contra revenue items. RecVue is also managing their partner commission programs, franchise revenue share rules and intercompany revenue splits.
Benefits
RecVue has helped Hertz attain a much higher level of partner and franchise satisfaction due to faster revenue settlements. RecVue also provided Hertz increased visibility into millions of rental agreements and commissions transactions, reducing operational inefficiencies while increasing auditability and control. RecVue’s implementation increased confidence in Hertz financial statements and saw them launch new services that grew their stock price by 8%.
“Leveraging RecVue’s technology platform will enable Hertz to continue our digital transformation journey and respond to evolving customer demand.”