With the buzz breaking the dawn in early 2023, AI has been all over the world in every industry one can imagine. The promising future of AI and ML has led to its vast adoption and integration across disciplines. According to a report published by IndustryARC, the AI-influenced travel and hospitality industry will surpass the $ 1.2 billion mark by 2026. Businesses are leveraging AI to formulate favorable corporate travel processes and policies.
AI-powered business travel software in Middle East has considerably boosted corporate trips from and into the MEA region. The next obvious curious question would be how AI fine-tunes the corporate travel management software.
Features of AI-powered business travel software in Middle East
AI-powered business travel software in the Middle East revolutionizes corporate travel by harnessing data analytics and machine learning. Here are some of the top features.
1. Travel Cost Optimization
ROI is a crucial factor in determining the success of any business activity. Corporate trips are no different. Increased trips to expand and grow business results in surmounting costs. Hence to maintain a high ROI, travel admins and agents carefully plan the itinerary of each trip. However, the real potential of cost-saving is not actualized in a dynamic pricing model of flights and hotels. AI empowers travel software with accurate prediction of more than 12 months of prices. It analyzes past trends and projects the future by considering various factors such as inflation, cost of fuel, global events, and more.
2. Trip Personalization
While finding the flights and hotels that are the best fit, valuable time and money are lost in a gaping pit. AI provide customized results according to the travel profile of a company and employees by assorting and analyzing streams of booking patterns. A trained AI on the prior travel preferences of a company and employees will reduce the number of steps trip managers have to go through. Once a query is put into the system, it will return with 3 or 4 top suggestions with previously negotiated or lesser rates and enhanced services. The managers won’t have to go through the procedures from scratch. Additionally, if saved, most of the booking details will be fetched automatically to further smoothen the overall process.
Suggested Read: 7 Best Corporate Travel Management Software In UAE
3. Fraud Reduction
Travel expense fraud is a snake slithering under the eyes of the managers and coiling slowly to land a fatal bite in the budget of the corporation. Fraud occurs when an employee submits tampered reports and receipts to gain more reimbursement from the company. With the manual conciliation process in effect, it is common for managers to overlook the essential red flags in a report. AI scans the report for its authenticity with proofs of receipts and documents. It can also scrutinize the report for any computerized forgery against balance claims.
4. Improved Trip Support
Providing cross-country support with an up-time round the clock can sound like a cost and time-intensive job. However, it is a mandatory service in the travel domain where everything can go wrong at any given point. Therefore, trip support is an indispensable part of the process. Manual support can result in inaccuracy of data and details that can be overcome by AI inputs. AI resolves the issues of the customers with and without the need for an executive. The cost of AI reduces the need for having a large support team of experienced professionals who can leverage AI and make well-informed decisions.
5. Data-Driven Booking Decisions
Travel data provides insight into the psychology and triggers of the bookers. Business travel software with AI integration offers the capability of reading through the zillions of data points and making sense of them. Data-driven booking decisions curtail the cost of each booking and provide the opportunity to find a balanced trade-off between the prices and comfort. This software can modify trip bookings and offer valuable suggestions. Management of trip details such as invoice generation, reimbursements, ROI calculations, and much more is also made possible with this software.
6. Comprehensive Policy Compliance
Through real-time monitoring, AI maintains a constant watchful presence in overall travel-related activities, spanning from bookings and expenses to itineraries. This ongoing surveillance enables AI to swiftly identify any deviations or breaches of established company policies, proactively safeguarding against potential issues. A standout capability that AI offers is its capacity to automate approval processes intelligently. By efficiently directing travel requests to the appropriate personnel based on predefined criteria, the software ensures that all travel-related submissions receive prompt reviews and processing, aligning seamlessly with company policies. This not only optimizes time management but also significantly reduces the chances of errors or oversights within the approval workflow.
With each passing day, business travel is only going to increase in the future. Business travel software in the Middle East promises great developments and benefits such as cost reduction, policy compliance, informed bookings, etc. no matter how large the volume is. Hence for efficient and smooth travel processes, it is always good to jump ships into the current technology.
Suggested Read: Top 10 Business Travel Management Companies In India
Business Travel Software In Middle East FAQs
How does AI optimize travel costs in corporate travel management?
AI analyzes past trends and considers factors like inflation, fuel costs, and global events to predict travel prices accurately. This enables travel administrators to make cost-effective decisions and maintain a high return on investment (ROI) for corporate trips.
How does AI personalize travel itineraries for corporate travelers?
AI customizes travel recommendations based on a travel profiles and past booking patterns of company and employees. This streamlines the booking process by offering tailored options with negotiated rates and enhanced services, saving time and effort for trip managers.
How does AI help in reducing travel expense fraud?
AI scans travel expense reports for authenticity, checking receipts and documents for any signs of tampering or forgery. It helps detect fraudulent claims and ensures accurate reimbursement, safeguarding budget of a company.
How does AI enhance trip support for corporate travelers?
AI provides efficient and round-the-clock trip support, reducing the need for a large support team. It can resolve customer issues quickly and make well-informed decisions, improving the overall travel experience.
How does AI contribute to data-driven booking decisions in corporate travel?
AI analyzes zillions of data points to understand bookers
The software can modify trip bookings and offer valuable suggestions.
Yes, AI facilitates efficient handling of multiple time zones.
