A business travel solution is a product, service or technology, individually or in combination, which addresses the challenges business travel presents to organizations.
Business travel is often one of the top items of expenditure on a company’s balance sheet. Business Travel Solutions aim to help organizations track and control the complexity of business travel. At any given moment, companies need to know:
● Where their traveling employees are
● Where they are going and why
● What kinds of travel product are they using
● How much money they are spending
● Whether they have the appropriate approvals
● Whether they are taking sufficient care over their security
The traditional purveyors of business travel solutions have been Travel Management Companies, which provide teams of travel bookers who book trips for their clients’ employee over the phone.
More recently, as the “point of sale” for travel bookings has shifted online, and as technology relating to travel product distribution and personal communication has improved, it is increasingly the vendors of the technological business travel solutions who are best placed to help organizations with their business travel management. This is because online business travel solutions enable not just travel booking but also automated policy control, approval process workflow, Travel Expense Management and financial reporting.