Skift Take

In this recent webinar, TripActions and The Points Guy joined Skift to take a practical and data-driven look at unexpected opportunities for companies to refine their travel and expense strategies and realize the full benefits of corporate travel.

A recent Skift webinar, The Unexpected Path of Corporate Travel in 2023, shared highlights from a recent Skift and TripActions research report and discussed why new patterns in business travel will be cause for optimism — and even consistency — in the market in the coming years, even if total revenue recovery isn’t on a perfectly straight upward trajectory.

In this webinar:

  • Remote work has permanently changed business travel: Shifting workplace trends are changing why we travel for business, and the movement toward more blended business and leisure trips are changing how we travel.
  • New patterns require new policies: In addition to increased volume from seasoned road warriors, incremental drivers of business travel are creating a whole new cohort of business travelers. For travel managers, these new travel types create a whole new category to track.
  • Flexibility equals opportunity (and compliance): A dynamic and integrated travel, payment, and expense program can help companies and employees navigate these shifting trends.

The predictions about when business travel will “come back” are all over the place, up one day and down the next — kind of like the stock market. The reality is that business travel is already back, and there isn’t going to be some magical moment when everything is “business as usual”.

In fact, that’s what has become really exciting. The path of corporate travel in 2023 is going into truly uncharted territory. Remote work helps many employees create a better work/life balance, increase productivity, and build enthusiasm to make the most of business trips. But it can also be easily mismanaged from both a personal and organizational standpoint. Companies need the right policies in place that automatically permit the right spending types — say office expenses or incidentals — that don’t create a burden for the finance team. And there’s no one-size-fits-all when it comes to policy.

In this webinar, Grant Martin, senior director of product marketing, TripActions, and Scott Mayerowitz, executive editor, The Points Guy, joined Skift to take a practical and data-driven look at unexpected opportunities for companies to refine their travel and expense strategies. By adjusting and adapting to the new environment, they can better manage costs, drive compliance, and improve employee satisfaction to realize the full benefits of corporate travel.

For further reading on this topic, please download Skift and TripActions’ recent report, “The State of Corporate Travel and Expense 2023: New Priorities, New Opportunities”.

This content was created collaboratively by TripActions and Skift’s branded content studio, SkiftX.

Tags: blended travel, business travel, corporate travel, expense management, remote work, travel and expense, travel technology, tripactions

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