TravelBank Partner Content

Major shifts in the corporate travel space have inspired a trend toward unified, AI-powered policy management platforms. But travel is personal, and travelers demand a personalized touch; for AI to realize its potential, it must live in the hands of human agents.

Business travel spending worldwide is projected to hit an all-time high by the end of 2025. Coupled with an explosion in AI tools that promise to turn corporate travel programs into high-performance vehicles for growth and ROI, companies are wise to spend time learning how to steer and navigate the technology before speeding off.

Corporate travel buyers and financial leaders are under pressure to optimize business travel logistics and costs while providing duty of care for their employees. Achieving this combination is no small task. When it comes to choosing between open bookings and managed travel, here’s what they need to consider.

Companies that incentivize business travelers to book less expensive trips can increase policy compliance and save the company money — a win-win-win for corporate travel, finance, and employees.

The rapid integration of consumer technology in the business world is leading corporate travel, finance, and accounting departments to pursue creative strategies and efficient software that bring corporate travel, payments, and expenses into one seamless workflow.

Reports of corporate travel’s demise turned out to be greatly exaggerated, but companies aren’t spending as freely as they did pre-pandemic. As CFOs increasingly have a say in employee travel — and the need to balance expenses with duty of care rises — all-in-one travel and expense solutions are taking on a growing importance.

Despite economic headwinds, 2023 is shaping up to be a game-changing year for business travel. Automation, machine learning, and virtual cards are helping business travelers and corporate travel planners add value and flexibility to the travel journey.