The Impact of Technology on Business Travel

Technology has been the single most powerful force of change in the business travel industry over the past two decades. It has moved travel management from a manual, administrative function to a strategic, data-driven discipline. For companies and their travelers, this technological evolution has unlocked unprecedented levels of efficiency, control, and support.

A modern travel management program is, at its core, a technology program. Here are the key areas where technology has made the biggest impact.

1. Centralized Online Booking Tools (OBTs): The shift from phone-based travel agents to self-service OBTs has been monumental. A modern OBT, like the one offered by Routespring, provides a single, centralized platform for all travel bookings. This is the foundation of a managed program, as it's the only way to effectively enforce policy, capture data, and track travelers.

2. Automation of Policy and Approvals: Technology allows companies to build their travel policies directly into the booking tool. The software automatically flags out-of-policy options, guides users toward compliant choices, and automates the approval workflow. This has replaced the slow, inconsistent, and manual process of the past.

3. Seamless Expense Integration: The integration of travel booking with expense management has eliminated one of the biggest pain points of business travel. When a flight is booked, the expense report is automatically created. Mobile apps with OCR technology allow for instant receipt capture. The result is a dramatic reduction in administrative work and faster reimbursements.

4. Real-Time Data and Analytics: Technology provides finance and travel managers with real-time dashboards that offer a live view of travel spend. This enables proactive budget management, data-driven supplier negotiations, and a deep understanding of the travel program's ROI.

5. Enhanced Duty of Care: Traveler safety has been transformed by technology. A centralized platform provides a live map of all traveler locations. This, combined with automated risk alerts and integrated 24/7 support, allows companies to fulfill their Duty of Care obligations in a way that was previously impossible.

6. Sustainability Measurement: Technology now allows companies to measure the environmental impact of their travel program. Carbon emission calculators can be integrated into the booking tool, providing travelers with the information they need to make greener choices and providing the company with the data needed for ESG reporting.

The impact of technology on business travel has been to make it more efficient, more cost-effective, safer, and more aligned with a company's strategic goals. The future of the industry will be defined by how well companies continue to embrace these technological advancements.