That is why it is essential to have both T&E under one system. Implementing integrated systems: Managing travel-related expenses is difficult in a manual process or when there are multiple partners handling travel and expense separately. ![]() AI-powered recommendation engines offer travelers curated options based on their preferences and policies, making it a quick, hassle-free process. However, with an automated travel booking system, the companies can simplify the experience of managing business travel and optimize their direct and indirect costs. These old processes consume a lot of time and waste a lot of resources. Embracing tech innovations: Age-old travel booking platforms are still dependent on emails, phone calls, excel sheets, and failed attempts to control the manual process, making it cumbersome and frustrating.Business travel 2.0 needs to solve these problems and usher in a new paradigm by addressing two key points: How Can Business Travel Booking Be Improved?Ĭurrent travel booking systems for business travel can often be unwieldy, cumbersome, and frustrating, and most of us have experienced difficulties managing travel expenses. Overcoming the impact of the last two years comes down to resilience and innovation – that is what can keep you in the game and help you create growth opportunities even when business is slow and uncertain. ![]() We also achieved our goals earlier than intended and launched our Expense product in Feb 2021. Our product innovation velocity was higher than ever, and we launched 150+ product releases in those 24 months. So, were the last two years just a blip? It is subjective for different companies, and I can only say that for ITILITE, no, they were not. However, it was never a question that business travel would ultimately come back in action. With multiple waves of the pandemic, the recovery of travel was always in question. The pandemic indeed brought the entire world to a standstill, and the T&E industry was among the worst hit. See More: Benefits of SaaS: Why Companies Should Make the Shift Overcoming the Effects of the Pandemic These innovations have a substantial positive impact on the user experience and enable simplifying an otherwise often exhausting process. Moreover, for companies with various policies at different levels for business travel, SaaS solutions provide added layers of customization.Īs tech capabilities continuously improve, AI-powered virtual consultants can now provide actionable suggestions by looking at the historical data to enhance cost efficiency. It eliminates redundant manual processes and the hassle of back and forth with travel admins. With integrated automated platforms, businesses can save time and money by providing quicker and cost-effective travel booking options based on past preferences. That is where end-to-end SaaS-based business travel and employee expense management platforms help you have both. ![]() ![]() When it comes to business travel and expense (T&E) management, companies should not have to choose between providing a meaningful employee experience and strong controls. Mayank Kukreja, the co-founder & CEO of ITILITE, sheds light on how business travel is evolving and SaaS’s role in the journey. Organizations have lived for too long with archaic systems and processes, especially in the financial and admin functions. Business travel is a $1.4 trillion industry, and it is projected Opens a new window to recover by 2024.
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