U.S. Bancorp’s acquisition of expense management software builder and travel agency TravelBank culminates a series of investments to build integrated business software and services, accelerate midmarket demand for banking and payments, and fend off financial technology firms. Banks traditionally picked up small business clients through lending and banking, but a digital revolution has changed that,…
After hitting a 14-year high in 2019, passenger commissions paid by U.S. airlines to travel agencies bottomed out in 2020 along with passenger volumes, and stayed low through the first nine months of last year. The pandemic also changed the passenger mix, as mainly domestic leisure passengers made for a lower-value booking environment. Lower-value bookings…
“Buyers want it; sellers need it,” according to Harvard Business School professor Doug Chung, McKinsey & Company partners Isabel Huber and Jean-Charles Devignes, and McKinsey associate partner Tom Clauwaert. “It’s not trivial, but it’s not rocket science either.” During the early stages of the pandemic, many B2B companies considered remote interactions as a temporary patch,…
The return to business travel is seen as a function of the return to the office, but not everyone will come back. What does that mean for collaboration, training, productivity, stress and quality of work? Steve Glaveski, CEO of Collective Campus and author of “Time Rich: Do Your Best Work, Live Your Best Life,” argues…
One of the biggest challenges of the pandemic for organizational travel program managers is keeping up with changing information and updating travelers on what they need to know. A late summer 2021 poll released last week by the Global Business Travel Association examined travel program communications from the perspectives of more than 500 U.S.-based managed…
Delta is always first among publicly traded airlines to report quarterly earnings. Its boss, Ed Bastian, typically talks more about the corporate travel market than peers at other airlines. Thursday offered no exception, as he told Wall Street analysts to expect a strong spring and summer. “While the new variant is not done, it appears…
TravelPerk’s valuation tops $1 billion partly because its per-trip costs are five times lower than those of traditional travel management companies, according to its chief commercial officer. “TripActions and TravelPerk are measured like Software-as-a-Service companies, such as Workday, Slack or Zendesk, and not like an Amex or a more traditional travel company,” said TravelPerk CCO…
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