Understand the new era of business travel with corporate travel technology advancements
As the business travel industry continues to evolve, corporate travel technology has developed to meet the needs of business travelers and travel managers. From personalized travel expense tracking to artificial intelligence-assisted trip planning, these innovations have made it easier for travel managers to streamline trip management and for business travelers to optimize travel, ultimately benefiting your company.
In this article, we’ll delve into how technology is used to optimize corporate travel for business travelers and travel managers before, during, and after a trip.
Corporate travel technologies, IT, and e-commerce solutions in tourism, travel, and hospitality aim to save time, automate travel, reduce costs, and create a more seamless travel experience for all parties involved.
For trip planning, travel managers can use these types of technology to streamline bookings, inventory, payments, and itineraries. For business travelers, technology can benefit the entire corporate travel experience, leading to more productive and happy trips.
Business trip planning begins with searching for the best flights and hotels. This process can be time-consuming and expensive, balancing travelers’ comfort and the constraints related to the travel policy and budget. Plus, business travelers need support to manage changes, emergencies, or other unforeseen circumstances.
This is where travel Artificial Intelligence (AI) comes into play. AI is one of the latest and most impactful developments in the business travel technology sector. AI travel tools have been instrumental in personalizing business travel recommendations. These tools use Machine Learning and predictive analytics to select tailored booking options based on past preferences and business travel policies. Booking.com for Business uses Machine Learning technology to help business travel managers plan and manage corporate travel more efficiently
Our recent article delves into the aspects of using AI. Avoid entering your employees' personal data or sensitive company data.
Corporate travel involves a lot of transactions. Beyond the big expenses like booking flights and places to stay, there are numerous costs that add up, from transportation at the destination to snacks and entertainment. Carrying cash for these costs can be dangerous, not to mention the inconvenience of exchanging currencies.
Recent developments in travel and financial technology (fintech) have made planning and tracking business travel experiences easier and safer. From online company cards to in-app wallet functions that let you pay anywhere in the world, digital banks and virtual cards have transformed corporate travel.
For business travel managers and decision-makers, digital banks and virtual cards have allowed for streamlined financial control and planning as well as expense management. Learn more about the benefits of virtual cards and other developments in payment technology in this article.
A common barrier for corporate travel managers is having to rely on poor-quality photos and reviews from strangers to find places to stay. Due to misleading info, travelers can sometimes end up in a less-than-desirable room, jet-lagged and with meetings to attend.
To bridge this gap between expectations and reality, some hotels now use Augmented Reality and Virtual Reality. Many hotels now digitally film rooms and amenities and integrate this with info about prices and accommodations. That way, travelers can get a virtual tour of the hotel before deciding to stay there. Our recent research suggests that travelers and corporate travel managers have growing expectations of hotel and business venue virtual tours.
International travel comes with plenty of potential risks. Companies are responsible for going above and beyond the statutory duty of care to ensure travelers’ safety.
Travel management software can help track travelers’ locations to make sure they’re safe in unfamiliar situations. You can collect real-time data from airlines and hotels about their safety policies and make better decisions with tools like Traxo, a real-time tracking app that integrates seamlessly with other services like expense tracking apps.
Manual expense management is still preferred by many companies, even though it’s less efficient in many ways. It relies on slow-moving paperwork, is expensive, and doesn’t offer expense fraud detection or prevention.
Travel technology can help transition from manual expense management to automation. From digital receipt scanning to OCR technologies, it’s time to move to automated expense management.
Travel consultants take care of a lot of organizational operations for businesses. However, they don’t provide customized booking options to travelers or insights to measure the effectiveness of travel and expense policy.
Virtual travel assistants have emerged as one of the most promising travel technology trends. It’s an AI-based feature in any modern-day travel management software solution that can provide booking options based on past preferences. Virtual assistants can save time and costs in the long run by optimizing booking and travel processes.
Commonly used by tools like Booking.com for Business, chatbots use Machine Learning techniques to provide personalized responses to prompts. Their features can help improve personalized recommendations and virtual travel assistant responses. Chatbots can also help with checking visa requirements, flight statuses, or alternative flight options in case of cancellations – all while saving travel managers’ time.
NDC is a real game changer for business travel technology. It provides real-time access to airline inventory, ensuring that travel managers have the most up-to-date information at their fingertips. This is especially helpful for corporate travel managers and travelers in fast-changing situations like flight cancellations or delays.
From efficiency and productivity to safety and security, technology has made business travel more manageable and enjoyable. As new technologies continue to develop, keep up with the evolving needs of your company and business travelers by embracing change and using business travel platforms like Booking.com for Business to streamline your business travel planning and execution.
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