How to Travel like a local : The latest global tourism trend in 2018

| September 22, 2018

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Traveling is a passion. It is the way through which you can break the rule of everyday life. Just forget your routine and break the habit. A simple travel plan will never cross your comfort zone. The total scenario varies with the way of traveling you are choosing. If you are looking for something different from the luxury travel plan then you are in right place. Booking with a travel agent or, then everything is planned, No...Not like that. Just travel like a local.

Spotlight

Rayna Tours

In full operation since 2006, Rayna Tours and Travels - an ISO certified company - has developed a long standing recognition as one of the best tour operators in the UAE. We’re committed to provide bespoke travel management services, making both leisure and business travelers from across the globe feel welcome.

OTHER ARTICLES

Loyalty goes the extra mile in travel

Article | February 18, 2020

Checking out of a hotel room or disembarking a plane used to have a certain finality to it. Travelers and brands parted ways at the end of the journey, and customer loyalty didn’t go beyond collecting miles or points. Now, reimagined travel experiences are extending customer engagement beyond the trips themselves. And the relationships between brands and travelers are no longer grounded on simple transactions. Travel brands are going beyond simple rewards to redefine loyalty programs around customer service, customer journeys and customer trust.

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Frequent flyer: will business travel bounce back from coronavirus?

Article | March 9, 2020

With trade shows cancelled and companies limiting or even banning travel, Mark Manduca, aviation analyst at Citi, recently raised the question: “Will corporate travel ever truly recover again?” When the coronavirus crisis is over, will companies that have managed just fine with video conferencing decide to carry on, given how much cheaper it is? We have heard similar questions before. I wrote an article in the early 1990s, after the first Gulf war and the economic downturn, quoting experts who said company bosses had noticed a fall in costs from the resulting decline in travel and decided to make it permanent. Similar things were said after 9/11. Every economic slowdown produces the same statements.

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Emerging Key Technology Trends That Is Revolutionizing The Travel Industry

Article | February 12, 2021

Technology advancements have changed the way we travel. And some of the new developments promise an improved day-to-day operation and interactive experiences for the customers. With the help of technologies, thousands of companies have transformed their conventional accommodation and traveling experiences. Travelers have gained free access to chart their journey, arrange required services, and enjoy hassle-free traveling. And the best part of this is, the ability to acquire all without leaving the comfort of home. However, there has been a paradigm shift in the travel industry with the development of some emerging techs around the world. So let’s check out what these technologies are, how they are going to impact, and the way it is going to change the entire traveling experience. Key Tech Trends In Traveling 1. AI Chatbots Chatbots powered by artificial intelligence is the most sensible investment. It helps users to talk with chatbots through messaging platforms like Facebook Messenger, Skype, or Slack. With the data stored in these chatbots, they recommend the best locations, tips, and price-alerts, thus, impact the decisions of the customers. During the trip, it would prompt the traveler about check-in updates and flight delays. Some of the booking sites that use chatbots include Skyscanner, Kayak, Booking.com, etc. 2. AR & VR Thanks to the development of augmented reality and virtual reality, potential customers can now take a virtual tour of the resort or hotel from anywhere around the world. It assists not only the customer to choose the best option for them but also helps the hotels to promote their facilities. With AR and VR, the possibilities in the travel industry are infinite. 3. Recognition Technology Due to the Covid-19 crisis, one of the biggest fears a customer faces is coming in contact with an infected person. But, the recognition technology assists in both check-in and check-out from the hotel with the help of retina scanning, facial recognition, and other biometric identifications. 4. Smart Rooms with IoT A wide number of hotels have moved towards the Internet of Things for their rooms. It enhances the entire customer experience via customized and potential control to the rooms while detecting any problem that can be faced by them. 5. Contactless Payment Last but not the least, contactless payment is another form of advancement in travel tech that allows companies to process payments quickly and saves time for the customers who don’t have cash or access to their debit or credit card. What’s Next? For every company that is operating in the travel industry, it is important to keep up with the technological trends. Understanding and using the tech mentioned will help in providing a better experience for the customer and optimize business along with the overall performance of the business. If you want to know more about these technologies and their adoption then have an IT consultant from experienced experts and acquire the in-depth information.

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How Corporate Travel and Expense Management Is Evolving Post-pandemic

Article | December 3, 2020

The travel industry is getting back to business, and demand has skyrocketed for travel technologies that make interactions possible between companies and corporate travelers. A recent Gartner survey reveals how 2020 affected CFOs with their corporate travel and expense management tasks globally. How will finance teams report and forecast expenses? How can corporate travel costs be managed? How to manage travel expense management processes effortlessly? Does this sound familiar to you? These were a few valid questions that kept companies engaged in finding answers during the pandemic. Many finance leaders want to implement proper corporate travel and expense management services and find solutions to bring consistency and clarity to their financial processes. While switching from manual processes to automated management systems can be difficult post-pandemic, with an efficient travel and expense management tool or software, your company can gain optimum benefits and stay productive in the future. This article will show you how it evolved through the coronavirus phase efficiently. Adoption of T&E Management Process for Seamless Work Experience An American Express survey found that 55% of the chief executives and senior financial managers ranked rising travel and expense costs as a top concern during the peak pandemic phase. Digital transformation of your processes is a critical strategy for spend management, and it ensures that employees are using the right product to get the best value. By adopting an efficient travel and expense management tool, your company can gain stellar benefits for your finance team to cater varied requirements, and keep a rigorous control over corporate travel spend. Before looking into how travel expense management processes are evolving post-pandemic, here are the benefits and value travel and expense management solutions offer. Also, this will further facilitate your finance team to manage the current corporate travel scenario effectively. Benefits of Travel and Expense Management Solutions The travel and expense management didn’t disappear during the pandemic. Instead, it accelerated its core value. The idea of integrating travel and expense management services with the help of big data in the travel industry is to leverage best practices for travel expense management that can help analyze and extract key information to diverse corporate travel finance functions. Travel industry leaders who are integrating effective travel expense management services in their corporate travel system have experienced the following benefits: Automatic processes of expenditure Data-driven decisions are smarter Time-saving mechanism Simplifies budgeting Ability to forecast more accurately Delivers better user experience Quick access to integrated data from expenditures Gain deep data visibility Higher rate of compliance with corporate policies in finance These significant upticks will benefit your company and will simultaneously improve your corporate travel policies. Understanding these benefits will help you identify how travel technology can help your company manage complex financial tasks that arose during the pandemic. According to a Gartner survey, a travel expense management system is essential as a key solution to manage the corporate travel economy. Any company, big or small, needs to control its expenditure to recover during the pandemic. Complex Forms of T&E Management Are Gone Legacy processes may get a job done, but they are more time consuming, error-prone, and do not provide visibility into travel spend. And when your travel and expense management process is slow and cumbersome, it can slow down the growth trajectory of your business. Corporate travel and expense management automation and its associated features like corporate travel policy, quick and easy booking, automated expense and reimbursement solutions, live credit card feeds, backup analytics capabilities, and more have taken precedence post-pandemic. These services offer more visibility into the travel spend of your employees. With top travel and expense management solutions, your finance teams can monitor and control costs and expenses in the long run. While many corporate travelers have started researching and organizing trips online, you need to add value to financial services by adopting automated travel and expense management solutions that work effortlessly. Core Focus Areas of Travel and Expense Management The post-pandemic era has seen a lot of companies embracing new and updated travel and expense management solutions to drive cost savings, and enable finance teams to have a better control over their road warriors. Here are some: Contactless Data Record Is the next Big Thing Travel and expense management systems allow employees to record all corporate travel bills and receipts through mobile apps and create expense reports immediately. Big data in the travel industry has played a significant role during the pandemic. Technology leaders have already experienced the benefits of travel and expense management. For example, TripActions’ travel and expense management platform uses data to learn about business travelers’ preferences, and predicts within 30 seconds what travelers are going to book with 90% accuracy. The advantage of big data to travel and expense management has already organized several effortless finance processes for corporate travelers to experience seamless budgets. Automation Is Crucial Integrating travel and expense management solutions could easily add to the unimaginable overheads that companies are experiencing. Automation is one of these solutions. Its integration in the travel and expense management system will give rise to a paperless world that will facilitate finance functions to build an audit trail. With this, it also ensures total compliance to keep the organization and its process fast. Agile Technology Is the Enabler Critically for the travel industry, agile technology has allowed multiple methodologies for incremental development in corporate travels, which has transformed the processes from rigid to flexible. The agile process in corporate travel and expense management allows analyzing tangible results on expense. The approach also provides the potential to change plans according to the requirements. For example, Lola.com, the agile travel management company is helping corporate travelers book, re-book, and take the task of expense reports off the table easily. Finance teams arrange travel policies in minutes and equally manage, control, and view expenditure effortlessly. In short, agile technology is making it much easier for travelers and companies all round. To address the use of agile technology in travel and expense management, Jeanne Hopkins, former CMO at Lola.com, the agile travel management company shares “Finance teams at Lola.com have tried managing, controlling, and got visibility into expenditures efficiently by implementing travel and expense management. Small and mid-sized businesses have to be fast and dynamic in the changing scenario of travel, so that actions like booking, re-booking, and managing corporate travel could be performed with efficiency and results in high productivity.” A Hassle-free Expense Management System Expense has been one common challenge with corporate travel programs. Integrating travel and expense management in your company can eventually introduce you to a hassle-free work solution. As the process involves collecting receipts from multiple sources, either from hotels, flights, or car rentals, travel and expense management solutions make it easier for a manager to look at all corporate travel costs at once. Also, in terms of future travel spend and potential savings, the capability of this management remains exceptional. Modern travel and expense management solutions also include self-service, real time, and easy navigation. For example, for travelers, Lola.com has a large inventory of flights and hotels that allow users to avoid going to various sites to compare fares, and save preferences, loyalty programs, and provides payment options in one place. Traveler profiles are automatically stored so that users can book with one click. The 24/7 support team then ensures easy booking and re-booking for its users without any delay. End-to-End Integration Is the New Order of Workforce End-to-end integrated systems in your company will help your finance team implement best practices for travel expense management. This will make it easier for your employees to initiate, approve, and pay each transaction out of hundreds within minutes, thereby creating a seamless task without any manual involvement. Travel and Expense Management Trends When you automate your travel and expense process, it will not only maximize your returns but, at the same time, it will minimize your spending. This will save you both time and money. Below are the reasons you will want to consider making a switch to automate from a manual process. Remove Guess Work from Expense Process For finance personnel in your company, the new travel and expense management system can be set up in five minutes. One of the travel and expense management tools, like Expensify, helps with easy expense tracking and reporting. Similar to this, SpendCatcher – a mobile application of MobileXpense.com that is infused with AI and deep machine learning extracts payment information with just one tap. Supplier-direct Bookings Companies whose employees use a corporate travel and expense management system can receive reports according to department, employee, direct travel supplier, hotel, or car rental company. This information helps managers analyze spending patterns by actively monitoring it with up-to-date information in one flow from various travel suppliers. In this case, Concur TripLink connects to corporate travelers for direct bookings across the borders. It gives visibility of bookings no matter where it is booked. True Visibility into Spending The corporate travel and expense report management system automatically flags and creates analyses of dashboards highlight hidden expenditure. This can be helpful to know: How much expenditure is going in personal corporate travel cards, and why Find expense categories easily Find out why expense is falling short and ask for details In this context, MasterCard International is rapidly approaching towards a smart, web-based expense management system to control spending, generate comprehensive spending reports, and accurately integrate purchase data. Thus, delivering business efficiently, quickly, and easily. Rise of Bleisure Travel Corporate travel and expense management also includes ‘bleisure travel’ for corporate travelers, those looking to combine business travel with leisure time. With agile travel and expense management tools, you can make quick changes in plans to keep your employees and finance team happy and productive while mapping the budget. In this case, Lola.com has made travel and expense management real by providing an effortless way to manage, book, and report on business plus leisure travel, by encouraging its employers to save most of their time and money. Travel technology offers a deserving platform with travel and expense management to companies for added efficiency and visibility over travel spend. As corporate travel businesses are returning rapidly towards their regular work scenarios, the travel industry will see a rise in revenue. Travel and expense management system will be one of the powerful remedies to the travel industry and will increase its scope to drive growth post-pandemic. According to the new Skift report, 88% of corporate travelers will drive travel technology company growth. 86% of corporate travel managers believe it. Put an end to complex budget management and legacy processes; it is time to know how to manage travel expenses in corporate. Frequently Asked Questions What is travel and expense process? The aim of the travel and expense process is the complete administration of travel expenses, including the recording of expenses, posting in Financial Accounting (FI), and allocation in Controlling (CO) and Funds Management (FI-FM). The process also involves the valuation of costs associated with business-related activities. Why is expense management important? Expense management is important for businesses because it helps employees to keep an accurate track of expenses. This caters to them to plan financial aspects for the future with more clarity and confidence. Capital flow is a daily process in any business, so to manage some significant amounts could get efficiently done through expense management and generate a profit. What is travel and expense management? Travel and expense management is a process that includes finance management by the employee when on a business trip or any expense is made for business goals. Each travel and expense management consists of detailed records of costs, expenditure, budgeting, and report submission.

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Spotlight

Rayna Tours

In full operation since 2006, Rayna Tours and Travels - an ISO certified company - has developed a long standing recognition as one of the best tour operators in the UAE. We’re committed to provide bespoke travel management services, making both leisure and business travelers from across the globe feel welcome.

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