If you’re looking for ways to make business travel better, look no further.
IDC research – The Connected Journey: Evolving to the Next Level in Business Travel – sponsored by SAP Concur has the answers. It takes a detailed look at what businesses need to do to keep pace with a rapidly growing, constantly evolving, travel ecosystem.
Among the top recommendations? Connecting travel to the cloud to improve the experience for your employees (thereby increasing productivity) can help you more quickly and accurately manage the following:
- Mobility: Most millennials prefer self-service technologies to manage their travel.
- Visibility: All your data, all in one place to spot new opportunities such as VAT reclaim.
- Compliance: Spot over-spending and non-compliance to travel and expense policies.
- Costs: Consolidated data from multiple sources to negotiate more effectively with suppliers.
- Duty of Care: Near real-time expense and travel data to locate and protect your employees.
So, what do these benefits look like? According to the IDC InfoBrief, by managing travel with a cloud-based solution your business can realise a number of benefits including:
49% less time spent on travel planning
70% less time spent creating expense claims
35% more compliance with internal travel/expense policies
54% fewer lost receipts
The IDC InfoBrief also describes what to look for in a cloud partner so you and your team can focus more on strategic growth and less on travel bookings and expenses. IDC goes on to outline challenges and opportunities before, during and after travel - from tighter controls over booking and improving productivity to reviewing, integrating and reimbursing expenses.
The savings associated with these improvements are staggering. As an example, the InfoBrief highlights SAP Concur’s connected travel ecosystem, which can save the average business £73,800 in invoicing/auditing processes, £92,500 in travel-related costs and £552,200 in improved staff productivity.
So, is your business ready to get connected?