TRAVEL BOOKING TOOLS
it’ll mean a much better experience and for the corporate it creates greater choice.”
New tech-driven solutions are quickly filling in so-called black holes that have been poorly served by a highly fragmented market, whether it’s travel for SMES, ground transportation, expense management or better duty of care programmes.
“Any time that money is invested into the space it raises the bar and forces the industry to up its game, which can only benefit the traveller and their organisation in the long run,” says Kirk Hayes, Director of Product Partnerships at SAP Concur.
However, business travel is a hard sector to crack and there’s a whole ecosystem of players out there. Not all innovations can be integrated seamlessly into the industry, which is pivotal for widespread adoption. And it is why a lot of disruption occurs at the fringes rather than at its core. It’s also a traditionally conservative industry.
“It is easy to say, ‘oh but I can have that on my favourite leisure site or app,’ but the reality is that the value chain of business travel is a lot more complex,” says Christophe Tcheng, VP of Products & Platforms at American Express Global Business Travel.
“You have to consider virtual payments, travel policy, reporting or expenses. This is where the opportunity lies. The industry goal is for business travel to be as seamless as possible,” adds Tcheng.
Recently, there’s been a big focus on biometrics and AI, including machine learning, as well as big data and cloud computing technology. The aim is for greater personalisation and automation in business travel. Fare tracking and price forecasting, as well as the use of chatbots to book travel are also increasingly the norm.
“The Holy Grail is about demonstrating
ROI and taking traveller experience to the next level,” explains Valerio Fuschini, VP
Chief Architect at CWT. “Whether it’s costcutting or revenue-enhancing, the onslaught of innovation will continue.”
These are exciting times for tech disruptors and start-ups in the business travel space. Not all will survive, but it’s a stark warning for incumbents. “As the market develops, there will be fewer players, most of whom will be tech companies,” says Jill Palmer, CEO of Click Travel. “It’s the businesses that blend technology with a strong track record and customer service that will make the biggest difference in the industry.”
It’s also true that the big boys are fighting back, with the titans of industry investing in incubating start-ups or improving their own platforms. A week doesn’t go by when an airline such as American Airlines – which has introduced a new management tool for travel managers – or a hotel group such as Millennium – which has launched a new app – announces a new or improved platform to service corporate clients. Watch this space.
Taptrip: The vast majority of businesses in the UK are SMES yet they’re woefully underserved by any form of managed business travel. This is where Taptrip comes in, allowing executives to book via their phone calendar. It has inventory around flights, hotels, rail and car services. It is a self-service travel and expenses solution facilitating bookings with just one tap. It was a former finalist at the BTA’S Entrepreneurs in Business Travel Awards and was the overall winner at the 2019 Disrupt Awards.
Tripactions: Business travel platform Tripactions is already a unicorn in the US and is fast moving into the UK after raising $250million in funding. It’s a hybrid between a travel management company and an online booking tool. It currently works with more than 2,000 customers globally and claims to reduce booking times from 60 minutes to six minutes.
Travelperk: Aggregation is the key word for this all-rounder start-up, as is seamless business travel management. The
company has a simple, single platform that looks and feels like a leisure site. The aim is to make business travellers feel good about the booking process and the idea is to get away from the legacy booking platforms. It features a lot of inventory by plugging into major consumer providers – such as Booking.com, Expedia and Skyscanner – and has healthy financial backing. It has recently launched Flexiperk to cover booking changes and cancellations.
Salestrip: Measuring the real ROI of a business trip can be a real issue. Quantifying spend against revenues is always a challenge. Salestrip allows executives to calculate exactly the return on investment. The all-in-one travel booking system sits on Salesforce, one of the world’s largest customer relationship management (CRM) platforms. It was a shortlisted finalist at the Disrupt Awards in 2019.
One to watch: Meetings, events and travel specialist Inntel has been developing a new online booking platform called Logic. It’s been well received by pilot clients who operate in the financial services, hospitality and media sectors. before departure using historical data and machine learning. Lumo then offers up alternative itineraries that are less likely to be impacted. Lumo can be seamlessly integrated into the platforms of TMCS and has recently teamed up with Flight Centre. It was a finalist in both this year’s BTA Entrepreneurs in Business awards and last year’s Disrupt Awards.
Freebird: Rebooking a flight can be a pain if you are disrupted and miss your business trip. But if you pay an insurance fee to Freebird they will help you deal with it. This can be extremely useful if you’ve got a complicated series of flights. They guarantee rebookings with three taps on your mobile phone and are backed by American Express Ventures. Users pay per flight and charges depend on distance flown, the time of year and user location.