Business Travel Management Solutions - Best Corporate Tools To Work With

The corporate travel landscape is undergoing a significant transformation. Business travel is rebounding post-pandemic but with new complexities. Duty of care concerns are paramount, travel budgets are tighter, and employee expectations have evolved. Corporate travel professionals are tasked with navigating this dynamic environment while ensuring efficient travel programs that prioritize duty of care, cost savings, and a seamless travel experience.

This is where robust corporate travel management software tools come into play. These solutions empower travel managers to streamline every aspect of the travel process, from booking and itinerary creation to expense management and duty of care tracking. But with a plethora of options available, selecting the right tools can be overwhelming.

The Current Corporate Travel Landscape: Challenges and Opportunities

The corporate travel landscape has undergone significant changes in recent years. While travel restrictions ease and business travel picks up, new challenges have emerged - 

Duty of Care - Ensuring employee safety and well-being throughout the travel journey is a top priority. Travel managers need tools to track employee location, provide real-time travel alerts, and offer 24/7 support during emergencies.

Cost Optimization - Travel budgets remain tight, and travel managers are under pressure to maximize efficiency and find cost savings. Tools that offer real-time price comparisons, negotiate better rates, and streamline expense management are crucial.

Employee Expectations - The modern business traveler seeks a personalized and frictionless travel experience. Mobile-friendly tools for self-booking, itinerary management, and expense reporting are essential.

Sustainability - Environmental consciousness is rising among businesses and travelers alike. Travel management tools that offer eco-friendly booking options like carbon offsetting are increasingly sought after.

These challenges present a unique opportunity for corporate travel professionals to showcase their value by implementing effective travel management solutions.

Essential Travel Management Software Tools for Businesses

To navigate the complex world of corporate travel, several essential software tools can significantly improve efficiency and enhance the travel experience.

1. Online Booking Tool (OBT) - An OBT is the cornerstone of any corporate travel program. It allows employees to search for flights, hotels, and car rentals within the framework of company travel policies, ensuring compliance and cost savings.
2. Travel Management Company (TMC) Integration - Many corporations partner with TMCs for access to negotiated rates and personalized travel services. Integrating the OBT with the TMC platform creates a seamless experience for travelers while ensuring access to the best deals.
3. Expense Management Software - Streamlining the expense reporting process saves time and money for both employees and travel managers. Expense management software allows employees to capture receipts electronically, categorize expenses, and submit reports for automated approval and reimbursement.
4. Duty of Care Solutions - Employee safety is paramount. Duty of care solutions provide real-time travel alerts, track employee location, offer crisis management features, and provide 24/7 emergency assistance.
5. Travel Data Analytics - Data is key to making informed decisions. Travel data analytics tools provide insights into spending patterns, traveler behavior, and program effectiveness. This data allows travel managers to identify areas for cost-savings, optimize travel policies, and improve the overall travel program.
6. Mobile Travel App - The modern business traveler demands convenience. A mobile travel app allows employees to access their itinerary, submit expense reports, track flight status, and access travel alerts—all on the go.
7. Artificial Intelligence (AI) Powered Solutions - AI is transforming corporate travel. AI-powered tools can personalize the travel experience by recommending flights based on traveler preferences and predicting flight disruptions to minimize inconvenience.

Top 7 Corporate Travel Management Software Tools

The corporate travel landscape is undergoing a significant transformation, demanding efficient and robust travel management solutions. This blog post equips corporate travel professionals and travel industry personnel with the knowledge to navigate the ever-evolving landscape of travel management software tools.

Several essential software tools can significantly improve efficiency and enhance the travel experience for businesses. An OBT serves as the cornerstone of any corporate travel program. It allows employees to search for flights, hotels, and car rentals within the framework of company travel policies, ensuring compliance and cost savings.

Here's a deeper dive into three leading OBT providers.

WegoPro

WegoPro positions itself as the industry-choice travel management platform, offering a user-friendly OBT with advanced features.  WegoPro's OBT goes beyond basic search functionalities.  Travelers can leverage features like:

* Personalized Search:  The platform personalizes search results based on traveler preferences, past booking history, and company policies. This saves time and ensures travelers find options that meet their needs.

* Real-time Price Tracking:  WegoPro's OBT displays real-time price fluctuations, allowing travelers to book flights at the most opportune moment.

* Flexible Booking Options:  The platform offers various booking options, including self-service booking, assisted booking through travel agents, and group booking functionalities for corporate events.

* Policy Compliance Integration:  WegoPro seamlessly integrates with company travel policies, ensuring employees stay within budget limitations and adhere to travel guidelines.

SAP Concur

SAP Concur is a leading travel and expense management (TEM) solution provider. Concur offers a cloud-based OBT with a user-friendly interface for booking flights, hotels, and car rentals. Here are some key features of Concur's OBT:

* Integration with TMCs:  Concur integrates seamlessly with various Travel Management Companies (TMCs), allowing businesses to leverage negotiated rates and personalized travel services.

* Mobile Booking App:  Concur offers a mobile booking app that empowers travelers to search, book, and manage their itineraries on the go.

* Approval Workflows:  The platform integrates with existing approval workflows, streamlining the booking process and ensuring proper authorization for travel expenditures.

* Reporting and Analytics:  Concur's OBT provides basic reporting and analytics functionalities to track booking trends and identify potential cost-saving opportunities.

Egencia

Egencia is a global travel management company (TMC) offering a comprehensive travel management platform with a strong focus on the traveler experience. Egencia's OBT boasts features like:

* Self-Booking Flexibility:  Egencia's platform empowers employees with a high degree of self-booking flexibility while adhering to company travel policies.

* TripIt Integration:  Egencia integrates with TripIt, a popular travel itinerary management app, allowing travelers to consolidate all trip details in one place for easy access.

* Personalized Travel Recommendations:  Egencia's platform personalizes trip recommendations based on traveler preferences and past booking history.

* 24/7 Customer Support:  Egencia offers 24/7 customer support for travelers, ensuring assistance throughout their journeys.

Deem 

Deem is a cloud-based corporate travel management platform known for its user-friendly interface and mobile app. Deem offers a comprehensive suite of features, including:

1. Booking: Employees can search and book flights, hotels, and car rentals within company travel policy guidelines.
2. Expense Management: Deem streamlines expense reporting with features like receipt capture, automatic categorization, and automated workflows for approval and reimbursement.
3. Invoice Processing: Deem automates invoice processing, reducing manual work and improving efficiency.
4. Travel Data Analytics: Deem provides insights into travel spending patterns and program performance to help companies optimize their travel programs.

The platform integrates with various TMCs and financial systems for a streamlined travel program. Deem's AI-powered virtual travel assistant, ‘Abby’, helps travelers with tasks like booking changes, expense reporting, and itinerary management, further enhancing the user experience.

TravelPerk

TravelPerk is a modern travel management platform designed to simplify corporate travel for businesses of all sizes. TravelPerk offers a user-friendly OBT with self-booking capabilities, flexible travel policies, and an intuitive mobile app. The platform emphasizes cost savings with features like:

1. Real-time Price Comparisons: TravelPerk uses real-time data to find the best deals on flights and hotels, ensuring travelers get the most value for their money.
2. Automated Invoice Reconciliation: This feature reduces manual work and streamlines the reconciliation process, saving time and resources.
3. TravelPerk integrates with various productivity tools like Slack and Microsoft Teams, allowing for a smooth workflow within existing communication channels.

American Express Global Business Travel (GBT)

American Express GBT is a global travel management company (TMC) offering a comprehensive suite of corporate travel solutions. GBT leverages its extensive network and partnerships to negotiate exclusive rates for flights, hotels, and car rentals. Their platform offers:

1. Booking: A user-friendly OBT for booking flights, hotels, and car rentals with access to exclusive GBT rates.
2. Expense Management: Streamlined expense reporting tools for capturing, categorizing, and submitting expenses.
3. Data Analytics: Access to comprehensive travel data and reporting to identify trends and optimize travel programs.
4. Duty of Care Services: GBT offers a suite of duty of care services, including travel alerts, risk assessments, and 24/7 emergency assistance.

American Express GBT is a strong choice for companies seeking a personalized and high-touch travel management experience, particularly those with complex travel needs or a global workforce.

Navan (Formerly TripActions)

Navan is a corporate travel and spend management platform designed for the modern business traveler. Navan offers a user-friendly OBT with a focus on transparency and cost savings. They provide:

1. Real-time Price Comparisons: Navan uses real-time data to ensure travelers get the best possible rates on flights and hotels.
2. Corporate Card Solutions: Navan integrates with corporate card programs for simplified expense management and improved visibility into spending.
3. Robust Expense Management Features: Navan offers features like automatic receipt capture, expense categorization, and automated workflows for approvals.
4. Navan's platform integrates with popular financial tools like Xero, streamlining expense reconciliation with existing accounting systems.

Choosing the Right OBT

Selecting the right OBT depends on your company's specific needs and budget. Consider factors like -

1. User Interface and Functionality: Ease of use is crucial for both travelers and travel managers.
2. Integration Capabilities: Seamless integration with existing travel programs (TMCs), expense management tools, and corporate finance systems is essential.
3. Travel Policy Compliance: The OBT should enforce company travel policies to ensure cost control and compliance.
4. Reporting and Analytics Capabilities: Data insights are vital for optimizing travel programs and identifying cost-saving opportunities.

WegoPro: The Industry-Choice Travel Management Platform

WegoPro stands out as the industry-choice travel management platform due to its comprehensive suite of features, powerful AI technology, and unwavering commitment to customer satisfaction. Here's what sets WegoPro apart:

• Unmatched User Experience: WegoPro boasts a user-friendly interface for both travelers and travel managers. The intuitive OBT simplifies booking, while the mobile app empowers travelers to manage their itineraries on the go.
• AI-Powered Travel Intelligence: WegoPro leverages cutting-edge AI technology to personalize the travel experience. The platform recommends flights based on traveler preferences, predicts flight disruptions to minimize inconvenience, and provides real-time travel alerts.
• Advanced Duty of Care Solutions: WegoPro prioritizes traveler safety with features like real-time location tracking, 24/7 emergency assistance, and comprehensive travel alerts. Travelers can stay connected and receive critical updates during their journeys.
• Data-Driven Insights: WegoPro delivers robust travel data analytics, providing insights into spending patterns, traveler behavior, and program effectiveness. This data empowers travel managers to make data-driven decisions.

Unveiling the ROI of Streamlined Corporate Travel

Implementing the right corporate travel management software tools can significantly enhance your travel program and deliver a substantial return on investment (ROI). Here's a glimpse of the potential benefits:

Reduced Travel Costs - Studies by the Global Business Travel Association (GBTA) show that travel management solutions can generate cost savings of up to 30% through optimized booking, expense management, and negotiation of corporate rates.

Increased Traveler Productivity - Streamlined booking processes and mobile apps save travelers valuable time, allowing them to focus on business goals during trips. A survey indicates that businesses using travel management tools experience a 22% boost in traveler productivity.

Improved Duty of Care - Real-time tracking, travel alerts, and crisis management features offered by travel management software contribute to a safer travel experience for employees. This translates to peace of mind for both travelers and travel managers.

Ready to Transform Your Corporate Travel Program?

Don't settle for mediocre travel management solutions. WegoPro offers a free demo to showcase how our platform can revolutionize your corporate travel program.  Experience the difference WegoPro can make –  reduced costs, increased traveler satisfaction, and complete peace of mind.

Stay tuned to WegoPro for the latest news and updates on corporate travel and expense management!