Technology has tremendously changed the world. It brings ease and convenience to any traditional process or product. Thanks to technological advancements, processes that took long to complete are now being completed in little to no time. The corporate travel industry is experiencing massive advancements in technological development and adoption.
Technology has become a vital part of the tourism and business travel industry. Travel and technology are the perfect couple. Technology has revolutionized every aspect of business travel from choosing a destination to planning and booking trips.
With technological advancements travel blogs, social media and many other platforms can offer more information to travelers. These allow business travelers to research their next vacation location, lodging options, weather forecasts, financial planning and much more. A report projected that by 2027, the global market for business travel is expected to reach $829.5 billion.
With this projection and the massive amount of target audience, service providers must make the right investments to integrate new technologies into their company’s services. Read this article to find out how new technology is revolutionizing corporate travel.
New technology and corporate travel
Here are new technologies helping to change the way of doing things in the corporate travel world.
1. Travel-management software (TMS)
Travel-management software is a technological innovation used to book trips, manage upcoming trips, track ongoing trips and report previous trips. The software is also used for automating corporate travel policies and has the ability to collect all invoices in one place.
Business travelers don’t have to manually file expense reports because travel management software is programmed to automatically do so. After each trip, the software generates a hassle-free as opposed to a mountain of paperwork.
Corporate travel planning and management can be challenging. These challenges prompted the development of software that makes life easy for both the travel manager and the corporate traveler. Travel software will help track and report spending to assist in making informed budget decisions. It also provides everything needed for taxes and accounting purposes.
There are many travel-management software available on the market at present. Tripaction is one of the most popular among them. It is known for its innovative booking and management technology, advanced automation capabilities, and top-rated customer service.
However, Tripaction isn’t the only top management software available for use and it may not be right for everyone. Check out this list of Tripactions alternatives to find out which one is right for you.
2. Mobile technology
Mobile technology is indisputably the most important new technology in the corporate travel industry. It has helped in digitizing travel processes, which were usually protracted in nature. Thanks to mobile technology, a corporate traveler can plan trips, book trips, find restaurants, book hotels, find bleisure locations, etc.
Mobile devices are essential assistants for business travelers. A study by IATA showed that 51% of passengers worldwide used smartphones or other mobile devices to check-in. Below are some of the ways mobile technology makes business travel easier.
- Mobile applications like Apple Pay, Samsung Pay, Google wallet, and other payment providers make it easy for travelers to make payments from anywhere.
- Mobile and cloud-based expense reporting has made expense management easier. The mere ability to capture travel receipts electronically with smartphones has made it easier for travel managers. Mobile technology has made it possible to create and approve expense reports remotely, and integrate policy enforcement to automate compliance. It also offers systems and data integrations to ease administration on the backend.
- Mobile technology also assists travel managers in providing updated security alerts and advice on possible delays and potential risks to their corporate travelers.
3. Artificial Intelligence
Artificial intelligence has been playing a prominent role in corporate and private lives in recent years. The technology improves daily, making it a dependable and easy business solution. The rapidly evolving travel industry is also leveraging AI to revolutionize the way it operates.
The corporate travel sector is utilizing artificial intelligence to perform various administrative and customer support functions. The concept of AI is often talked about but may be slightly difficult to describe. AI is the use of computers and machines to carry out tasks humans would normally do.
In AI, computers are programmed to reason like humans and perform human-like tasks. This could be in the form of problem-solving, decision making, or speech recognition and interpretation.
The ability of artificial intelligence to execute tasks that traditionally necessitated human input has made it handy in the corporate travel scene. This is because AI assists businesses in saving time and money while removing any chance of human errors and enabling quick completion of tasks. Below are some of the ways AI is assisting the corporate travel industry:
- AI can track and recognize the corporate traveler’s searches online to personalize and recommend travel solutions from the data collected.
- Hotels and airlines use AI to provide excellent and fast customer service online via chatbots and instant messaging apps.
- AIs can help corporate travelers find airlines with the best flight prices at any given moment and predict future flight prices.
4. Augmented reality
Augmented reality (AR), is a new technology that changes a person’s perception of their physical surroundings when viewed through a digital device. This technology is rapidly being integrated across every industry in the world. According to a report by Statista, the Augmented reality market is predicted to grow from 5.91 billion to 198 billion U.S. dollars by 2025.
The use of augmented reality technology in the corporate travel industry is still a relatively new development, hence, new uses are emerging. Over the past decade, the broad shift in consumer lives has also been a major factor in the adoption of AR within the corporate travel sector. There is not so much transition to using augmented reality apps on smartphones because corporate travelers are accustomed to using their smartphones frequently while traveling.
No doubt, AR has a massive potential to help bring innovative developments to the travel industry. Below are some of the ways AR is revolutionizing the corporate travel industry.
- AR technology provides airlines, restaurants, hotels, and other forms of accommodations endless potential to interactively engage with their clients and travelers. It empowers these service providers to disseminate information to potential customers in a captivating manner, with 360-degree visual tours and 3D views.
- Augmented Reality travel apps ensure corporate travelers never miss their way in their destination cities regardless of language barriers. Rather than asking for directions, travelers can utilize AR-based navigation apps to easily find their destinations.
- Another interesting use of augmented reality relates to beacon technology, which works via Bluetooth. This particular technology is useful within the corporate travel industry because it enables travel managers and supervisors to send push notifications or enable certain functions when their travelers enter a particular location.
5. Facial recognition technology
A facial recognition system is a new technology that can match a human face from a video frame or a digital image against a database of faces. It is usually used to authenticate users through ID verification services. Facial recognition, a type of biometric security, functions by measuring facial features from a given image.
The technology is majorly used for security and law enforcement purposes, though there is increasing interest in other areas. Corporate travel is one such area. Some of the ways facial recognition is being used in corporate travel include:
- It reduces the waiting time for corporate travelers at airports. Facial recognition has become increasingly used at many airports around the world. Corporate travelers can now hold biometric passports, which allows them to skip the occasional long queues.
This passport enables them to walk through an automated ePassport control and reach the gate faster. Facial recognition not only reduces waiting times but also allows airports to improve security.
- Hotels now provide corporate travelers the option of uploading a photograph of themselves while booking their accommodation. When the camera present at the hotel recognizes their face upon arrival, hotel staff can then welcome them and use the booking information to personalize their experience.
- Facial recognition technology also aids in quick and seamless payments while traveling.
6. Internet of things
The Internet of things (IoT) has bigger potential than all the previously mentioned technology because it can facilitate a common platform for the aforementioned technologies to connect. IoT is an interconnection of devices through cloud computing and networks of data-gathering sensors. On the corporate travel scene, it can aid a higher level of personalization in hotels and airports.
This can be done by enabling corporate travelers to handle more services or appliances through a centralized device like their smartphone. It can also aid an easy travel experience by using IoT sensors to notify travelers when their luggage is close or not.
IoT is revolutionizing the corporate travel industry from enhancing customer experience to boosting service providers’ revenue. Every company in the travel industry must include IoT in their business models and services.
Every corporate traveler wants ease from the moment they decide to embark on the trip to when they return. New technology is ensuring that this happens. This article explores the various ways new technologies are revolutionizing corporate travel.
Lydia Iseh is a writer with years of experience in writing SEO content that provides value to the reader. As someone who believes in the power of SEO to transform businesses, she enjoys being part of the process that helps websites rank high on search engines.