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How finance teams can proactively manage travel spend before it happens

| May 26, 2021

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Controlling how employees spend company money on travel has been one of the biggest historic challenges for finance teams. Most company spend is governed by purchase orders, with payments made in relation to specific invoices from the company’s own bank. The data is available transparent and can be analyzed to spot any inconsistencies. But controlling travel spend, which is most company’s largest discretionary spend area, is much harder.

Employees increasingly organize their own travel, empowered by corporate self-booking tools for search, booking, and payment. This can help with visibility, particularly if the corporate uses lodge or virtual cards to pay. However, pre-trip spend like air and hotel bookings only represent 50-60% of the money spent on travel. What about the rest?

Spotlight

Scoot

Scoot™ is the low-cost, medium-to-long haul arm of the Singapore Airlines Group. Scoot took to the skies in June 2012 and merged with Tigerair Singapore in July 2017, retaining the Scoot brand and positioning it well for a new chapter of growth.

OTHER ARTICLES

How Security, Privacy, and Trust Can Help Travel Brands Offer a More Human Experience

Article | February 25, 2020

To deliver the richer, more fulfilling experiences that travelers crave, travel brands depend on a growing cache of customer data. More data can mean more opportunities to deliver an elevated human experience, personalized to each traveler’s needs and wants. But many brands are opaque about just what data they are collecting, and customers often don’t have any way to know how it may be used, how well it is secured, and what, if any, control they have over their personal information. Hence, the trust that travelers place in the industry is at risk, which ultimately could impact their travel choices.

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Technology Transforming the Travel Industry

Article | February 24, 2020

The travel and leisure industry is undergoing a major evolution with personalisation. Travellers’ experiences can now be deeply customisable at every stage, from research and booking to tailoring the main event itself, and interactions after it has taken place. Choices are plentiful on the internet and whether people realise it or not, they want businesses to provide them with an experience adapted to their needs and preferences. New releases in technology are enabling the transformation of the customer experience through hyper-personalisation, while at the same time increasing the efficiency of business operations. Advancements in MarTech and related tools are increasingly being applied in travel and leisure to make the world seem more connected, empower travellers to explore, simplify the decision-making process, and be on hand to guide users through their journey.

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6 tips & tricks for planning business travel

Article | February 25, 2020

There are many hints out there for how to get the most out of your business travel, thousands if not millions of tips and tricks. That’s why this condensed list of 6 is what we’ve found most useful when planning your first, second, hundredth or with the way society is now, millionth business trip….think about the carbon footprint for that though.

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The Rise of Ultra-Long-Haul Flights Is Changing the Way We Travel

Article | March 3, 2020

Airlines for decades often sought to fly the biggest aircraft they could on routes between the largest cities, pushing passengers through megahubs in New York, Frankfurt, London, Tokyo, or Dubai, where they could switch to a smaller airplane to take them to Nashville, Osaka, or Nairobi. Two new aircraft, the Boeing 787 the one on the Qantas flight and Airbus A350, however, have changed the model, and in the coming decades, more passengers will be able to fly nonstop to more places than ever on ultra-long-haul flights.

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Spotlight

Scoot

Scoot™ is the low-cost, medium-to-long haul arm of the Singapore Airlines Group. Scoot took to the skies in June 2012 and merged with Tigerair Singapore in July 2017, retaining the Scoot brand and positioning it well for a new chapter of growth.

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