Why Digital Transformation in Business Travel Matters For Finance Teams

The last five to ten years have seen the uprising of digital transformation initiatives across organizations of all sizes, industries, and geographies. And while many of those efforts modernized analog process for more modern, efficient, and cost effective approaches, most skipped over one of the largest budget line items across organizations: business travel. When it comes to managing and optimizing business travel, many finance organizations still rely on behind-the-times legacy systems that deliver a poor user experience, resulting in a lack of employee adoption and poor visibility into travel spend, which accounts for approximately 10% of a company’s overall spend. In particular, there are three significant challenges that finance organizations can face when it comes to effective business travel management.