Managed corporate travel produces huge amounts of data. Organizations need it to watch expenses, monitor programs, track travelers and comply with various taxation and legal requirements. They use business intelligence tools and expense management to gather and analyze.
[UPDATE, Oct. 20, 2022: This article was updated to include information in the last paragraph about rollout timing.] As part of an effort to automate business-to-business transactions for 40,000 customers that use its enterprise resource planning software, Oracle Corp. on Wednesday announced corporate card integration with JPMorgan Chase. The travel card and expenses initiative would…
CWT earmarked some of its development budget for new trip reporting that pulls in info from multiple bookings to make client data more comprehensive. The travel management company expects it to roll out early next year as part of a new analytics solution. Depending on the client, upwards of 30 percent of trips may have…
Corporate travel professionals know a thing or two about attempting to produce forecasts amid uncertainty. According to Michael Mankins, a leader in Bain & Company’s organization and strategy practices, companies are better off nurturing adaptability, flexibility and dynamic planning than trying to get more out of the crystal ball. Senior executives often lament, “If we…
Increasingly prominent in corporate travel, sustainability reporting is a complicated area. According to this article by Tensie Whelan, director of the NYU Stern Center for Sustainable Business, an organization should develop its environmental, social and governance disclosures after first considering existing standards, conducting analyses, establishing KPIs and understanding the financial return on its sustainability strategy….
You can’t manage what you don’t measure, but how do you measure? That question has hindered the business travel sector’s assessment of environmental impact for years. Two-thirds of 216 buyer respondents to a GBTA poll this month said sustainability had prompted them to review travel policies — the most of any listed factor. Yet, in…
[CLARIFICATIONS, May 18: Adding details for this article, a spokesperson indicated that Coupa already “prescribes” travel sourcing opportunities. What’s yet to come is the automatic creation of sourcing events: “Today, our Travel Insights will recommend sourcing opportunities with a supplier. What the team is envisioning for the future is where silos are removed between the…
There are so many ways for organizations to run into trouble in corporate travel that it’s especially painful when the damage is self-inflicted. Yet, that’s often what happens as a result of garbage data. In this paper, Randy Bean, founder and CEO of NewVantage Partners, shares insights about data management that could be useful for…
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