Anatomy of the New Corporate Travel Tech Stack

The software landscape in corporate travel is changing, with a greater focus on ease of use, system integrations, and elegant automation.  In a recent Skift+TravelBank survey, 40% of travel and finance leaders said they plan to adopt a new travel tech stack in the next year.  It’s a critical time to streamline and upgrade the expense management and corporate travel tech stack.  Here are six features you should consider.

>> Related:  Streamlining Business Travel Management with Technology and Automation <<

1. Automated Expense Tracking and Reporting

For employees, prioritize an app or program that allows travelers to automatically scan and record expenses versus inputting manually. Meanwhile, managers need the solution to include automatic routing approvals that notify the person who needs to review and approve, determine what happens when something is not approved, etc.


2. Employee Rewards

Programs that offer gift cards, prizes, or other incentives to business travelers who meet specified company goals around travel (e.g. cost savings, participation in group loyalty programs, etc.) can actually save your company money.


3. Virtual Cards

The tech you use to manage spend should allow your team to provision virtual cards that replace the need for physical credit cards for employee travel and other expenses. (Consumer examples include Apple Pay, Google Pay, etc.)


4. Dynamic Budgeting

Look for a corporate travel spending tool that automatically adjusts employee spending guidelines based on changing circumstances.


5. Mobile App

Invest in solutions that are available natively across both web and mobile devices so employees’ can access the app on their personal devices to plan, book, adjust, and report business travel and expenses.


6. Sustainability Tracking

More companies are interested in having access to an online or mobile tool that helps track eco-friendly or responsible travel, such as carbon reporting, supporting local or diverse businesses, etc.