From the Experts: Evolving Landscape of Travel & Expense

Today’s T&E programs – whether at a 150-person local company or a 50,000-employee global operation – saw more change in the last few years than in the past 10. For many of us, these fast-moving changes tested our resiliency, requiring that we challenge outdated processes but ultimately opening new opportunities for growth.  

Programs must flex to traveler expectations about their own health and safety. The next generation of T&E users – Generation Z – will rely on technology, advocate for the planet, and want to work within a company culture that resonates with them. Data must provide actionable information instead of just numbing volume. And digital innovation will continue, even as budgets tighten, costs rise, and economic and global uncertainty continue. 

Our latest webinar, The Changing Travel & Expense Landscape, is designed to help business decision-makers across the globe better understand the topics and challenges they face now and in the future.  

Moderated by Amy Padgett, SAP Concur VP of Travel Marketing Strategy, the session features Lilli Donahue, Business Development & Strategic Partnerships for Capital One, and Michael Forrester, Vice President, Business Development for ADTRAV. Throughout, the panelists share expertise and address questions, while an in-session poll of industry peers delivers collective insights. 

Over 700 business professionals took part in the live session, hearing expertise and predictions like these: 

• “We’re going to see a really big shift,” Donahue observes. “The old manual entry way of doing T&E slowly and exhaustively will fizzle out. Employers are going to need to keep up with these needs and demands. And so investing in new technology is exactly what they’ll need to do.”  

• “Any type of task that can be automated or that’s repetitive is going to be taken care of with AI and these emerging technologies,” Forrester says. “And any company that does not invest in that is going to be significantly behind.” 

Watch the full session at your convenience to learn more, but here’s a glimpse of what was discussed. 

Travel program flexibility

Key number: 91% of business travelers have travel flexibility expectations they see as essential for ensuring their health and safety while traveling .¹ 

Expert insights: As business travel increases - and work-from-anywhere remains – post pandemic travel flexibility continues to be both important for the business and traveler.  And when you add in the element of compliance, balancing flexibility can be complicated for companies to manage. With the past few years proving more business can be conducted remotely, each trip must increasingly be justified, especially amid inflation and tight budgets. Companies increasingly are using pre-trip approvals, encouraging alternate modes of travel, educating workers about new policies, and bringing employees together as they recognize the value of face-to-face contact to build relationships and teamwork. 

Peers say: 54% of webinar poll respondents say business travelers “often” ask for more flexibility. 

Next generation of travel and expense users 

Key number: 98% of Gen Z respondents plan to take steps to reduce their environmental impact while traveling for business over the next 12 months.² 

Expert insights: The Gen Z generation expect work to be mobile-enabled and able to be performed wherever they are located. Technology should reduce manual tasks and free them for challenging work, while minimizing their impact on the environment. Businesses are responding – and must continue to – by providing mobile booking tools that are personalized and promote sustainable options. Anything on paper – from booking to travel documents to expense reports – is history. 

Peers say: 41% report their company offers “remote work” or “work from anywhere” to attract younger talent. 

The power of data 

Key number: 61% of finance and IT leaders tell us their finance leaders don’t have enough visibility into near-real-time employee spend data.³ 

Expert insights: Making data-driven decisions is much more difficult when you are swimming in information instead of gaining insights from it. That makes consolidating data from bookings, credit cards, and other expense sources critical to success. Dashboards can help you connect the dots that empower decisions. And metrics must go beyond trip costs to include traveler satisfaction and sustainability.   

Peers say: 27% say disparate, disconnected systems make timely data-driven decisions challenging.  

Digital innovation 

Key numbers: 72% of businesses think digital transformation is key to their business growth.⁴ 

Expert insights: The travel and expense space still has plenty to gain from automation and intelligent tools. Areas for investment include such digital payment options as virtual cards and mobile payments. Artificial intelligence is expected to deliver benefits in how employees access information on flights and hotels and explore – and see –destinations in depth, while companies can predict travel patterns and get the most from each dollar.  

Peers say: 27% want technology to automate outdated paper and manual/semi-manual processes, while 25% hope to make financial data and reporting more accurate and timely. 

Listen up and learn more 

• Watch the full webinar to discover more about current travel and expense challenges and access resources that can convert each spending decision from a moment on uncertainty into a moment of confidence. 

• Visit our events section to learn about upcoming opportunities to stay informed.  

Sources 

1, 2. SAP Concur Global Business Traveler Survey  

3. Study by Forrester Consulting on behalf of SAP Concur 

4. Analysys Mason 2022, Travel, Expense, and Vendor Invoice Management Study