By Carmen Stinson on Nov 21, 2018
2 min read
Travel Management Technologies is on the rise in an industry such as corporate travel, which is prone to slow changes. Currently, the travel industry has conservative business tendencies and procedures. It tends not to experiment because it is sure its business model works fine for them.
On the other side, leisure travel technologies and businesses are rapidly moving forward, by means of the adoption of consumer booking tools and mobile payments, which allow the user a more controlled and user-centered experience. Meanwhile, the travel agency model for leisure travel is in decline while business travel management is growing. Corporate travelers want to get from point A to point B in a fast, efficient, and enjoyable way; companies want to control and save money.
The millennial way
It is estimated that by the year 2020 half of the American workforce will be made up by millennials, a demographic that is used to plan their own personal trips on their devices: Tablets, laptops, smartphones and the likes. And they do it in a very expeditious way, they want it now, they want it fast, and they want it secure.
Millennials trust AI with important analytical decisions and are eager to embrace technology. Thus, they demand the same from the people they work for. Nonetheless, corporations are not yet using travel apps, and are letting the travel agencies do the work.
This means that employees use apps most of the time to keep in touch during business trips and emergencies, but the companies they work for simply lack the technology to track their steps throughout the journey and provide them with assistance should they need it.
The solution to the problems
There are solutions to address the travelers’ demands, in order to adjust them to their behavior. We can divide those solutions into two:
On the one hand, you have independent software vendors that provide self-service solutions for travel expense management, bookings, invoices, support dashboards, and the likes, by means of automating the companies’ travel management processes all in all.
On the other hand, you have travel management organizations that use travel management technologies in a different way. They offer the same things as the first one, but with services that include travel agencies, consultants, custom travel programs and just about everything else.
With the emergence of mobile technology and fast internet apps, travel is going to get better, faster. Taking into consideration that half the workforce is using these sorts of technologies, it is a good idea to apply some travel management technologies into the planning of corporate travel, while allowing the traveler to control certain aspects of the trip themselves.
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By: Carmen Stinson
Director, Global Corporate Travel Sales & Operations