Corporate business travel is one of the most disrupted segments in the travel industry today. In the modern world, a business’s fate and progress are not decided by what happens in the boardroom or office cabins. Business owners depend greatly on networking and establishing connections with their international partners and associates. Hence, corporate travel is a mandatory element of businesses looking to strike significant deals within the country and overseas. Like everything else in the modern world, technology influences corporate travel significantly. Speed is an integral part of every business practice and process. Hence, corporate travel technology have to be more agile and responsive.
How technology can be used in travel industry
Technology can leverage integrated databases to ensure better quality products and services from suppliers or provide corporate travelers with intelligent search capabilities through a user-friendly platform. Travel operators are increasingly dependent on new technologies to serve the needs of corporate travelers by providing broader options for researching and booking travel accommodations.
A few ways technology is reshaping corporate travel
1. Mobile apps and bookings
Mobile platforms have become an integral element of every person’s life, particularly for those in a business environment. For business travelers, it is a tool that puts them in control of their travel plans and strategies. They can book travel tickets and accommodations from anywhere and at any time. Travel companies use these apps as a part of their robust digital platform to communicate more effectively with customers at each stage of the journey. Problems are shared faster, understood better, and resolved effectively through technology.
2. Digital payments and document tracking
Digital payment options have made life easy in multiple ways for most people and corporate travelers in particular. Corporate executives with little time to devote to traditional paper documents can use technology to access digital versions while on the go and perform the necessary actions.
Digital payments and document storage and retrieval systems provide companies with real-time data and reporting about corporate travelers and their purchasing trends and history. These metrics help companies plan their travel better and affordably.
3. Powerful, intelligent search engines
Travel technology brings a host of value-added capacities to corporate travelers. Nowadays, thanks to the advent of AI, ML, and other similar technologies, you have access to powerful search engines that are very intelligent. It helps travelers auto-fill searches and finds details of past searches and history. You can also conduct advanced or highly-specific searches and research the bookings you need to get the accurate output.
Access to travel technology means corporate travelers can now work directly with service providers and enjoy faster and more convenient bookings. It translates into a greater degree of efficiency and accuracy in sourcing bookings. Travel companies can take advantage of technology to create detailed customer profiles based on searches and bookings. They also use the data to design customized offers, promotions, and discounts for future bookings.
4. Efficient and streamlined processing
Corporate travel is not about bookings. It is also about rescheduling, rebooking, and cancellations. That’s an inseparable element of the travel industry. A corporate travel management company or service provider’s ability to quickly adapt to a corporate traveler’s changing needs is crucial. Most corporate travelers have to balance tight deadlines and financial limitations. With advanced technology, they can now use advanced travel ERP systems and suites. These solutions work best for travel companies and can help them provide high-quality professional service for corporate travelers.
The nature of corporate travel has changed dramatically over the past few years. This has necessitated the evolution of travel technology. Service providers are forced to adapt to and incorporate the latest technologies to remain competitive. This is great news for corporate travelers as they can plan and make bookings smoothly without the hassles associated with manual bookings.
5. Automation in expense management
Some companies prefer using the manual expense management procedure to collate corporate travel data despite the apparent advantages of expense management automation. Automated expense management systems help reduce errors and boost the speed and efficiency of calculating how much an executive or a team has spent while on a business journey. Automated systems segregate expenses under various heads and prevent inadvertent errors. It also helps in fraud prevention and detection.
Adopting the right travel technology allows your organization to transition to a fully automated system quickly. Travel management software systems provide scanning and OCR technology, allowing traveling staff to file expenses from anywhere.
Suggested Read: What Is The Travel Expense Approval System
6. Virtual travel consultant
Your staff traveling for work do not generally have a detailed travel plan. This is not a desirable way to begin any corporate travel. There must be systems to deal with everyday business travel challenges like flight delays, overbooking, lousy hotel rooms, etc. A human travel consultant need not be your best bet, especially when there are technological choices available.
Choosing the right tech travel platform allows you to make travel bookings a walk in the garden. You can enjoy customized booking options without paying a hefty fee that a travel agent or service will likely charge. You can deal with any last-minute booking or cancellation challenges effortlessly. Travel apps also provide insights for measuring the effectiveness of your travel and expense policies.
The virtual travel consultant is one of the most exciting and promising travel technology trends. It is an indispensable component in any modern-day corporate travel management software solution.
With the help of a virtual travel consultant, corporate travelers can access customized travel booking options based on their past booking history and preferences. Companies get a 360-degree view of their travel and expense processes to optimize their corporate travel program for better efficiency.
Conclusion
Modern travel technologies can help reduce corporate travel-related problems and costs. You can also benefit from other features like smoother approval, effective expense management, advanced analytics, and customized dashboards. These features can help organizations manage business travel more efficiently. That’s why you must digitize your corporate travel management process with travel management platforms such as Paxes.
Suggested Read: What Is A GDS System And Why Is It Important
Corporate Travel Technology FAQs
What are the ways of using technology in corporate business?
Technology can be used by creating mobile applications, digitalization of payment methods, and document tracking. Also, by automating expense management.
How is digital payment beneficial for corporate travel companies?
Companies can access real-time data and report about business travelers purchasing patterns and histories through digital payments and document storage and retrieval systems. These metrics aid businesses in making more cost-effective travel plans.
How does travel technology help corporate companies?
Corporate businesses can communicate directly with travel service providers due to travel technology. They can take advantage of easy reservations and a quicker process. In accordance with customer searches, they can also produce customized reports.
What are the benefits of automation in expense management?
Automated expense management helps in reducing errors and boosting the speed and efficiency of expenditure. It also helps in saving time.
What are the benefits of a virtual travel consultant?
To improve the efficiency of their corporate travel program, businesses receive a 360-degree view of their travel and expense processes. It also takes care of any issues with last-minute cancellations or bookings with ease.
