As a financial manager, you’re used to thinking about travel as a line item. But in today’s world, it’s also an opportunity for strategic alignment and empowerment.
According to a Deloitte study, companies are rethinking employee travel, going beyond basic needs to make it an experience that puts employees in the driver’s seat — and sets the business up for success.
Challenges in the Current Landscape
Travel is the second-highest line item on the ledger, but travel managers find it increasingly difficult to manage this spend as business travel surpasses pre-pandemic levels.¹
Travel managers are also under pressure to manage rising costs while delivering excellent travel experiences.
Business Travel by the Numbers
A recent Center survey of 200+ U.S. full-time employees who travel for work; have booked their own travel/have traveled in the last 12 months reveals:
40% of travel managers prioritize traveler experience or sustainability over cost when evaluating program success.⁴
Bridging the Gap Between Innovation and Experience
Despite advancements, many find the booking experience less intuitive and support inadequate. In fact, nearly 60% of travelers are dissatisfied with the ease of booking and modifying their business travel plans. These challenges are driving significant changes in the way companies manage travel. By streamlining the process, companies can improve the experience for all stakeholders involved, including travelers and finance managers.
- Companies are using AI and data analytics to personalize travel experiences.²
- Flexible travel policies lead to higher employee experience scores across various metrics such as engagement and mental health.³
Simplifying Business Travel: Recommendations for a Better Journey
Our data shows there’s a high demand for self-service options to reduce dependence on travel support and improve efficiency.
According to the Center 2024 Annual Trends Survey Report, nearly 60% of finance leaders would switch to a solution that integrates travel, expense, and card management—with an improved employee experience stacking up almost as high. To meet these new expectations and improve the traveler experience, we recommend:
- Improving the traveler experience by balancing cost management with support and interfaces.
- Making the most of advanced solutions like connected card programs and customized policy management to align with broader corporate goals, including sustainability.
- Incorporating direct traveler feedback to refine travel platforms so they meet real-world demands and preferences.
1 Sage 2022 Close the Books Survey reveals key strategies for organizations to attain a faster financial close and unlock greater value
2 Spotnana: “How travel managers will succeed in 2023.”
3 McKinsey & Company: “This time it’s personal: Shaping the ‘new possible’ through employee experience.”
4 Qualtrics: “The 5 employee experience trends redefining work in 2024.”
Center simplifies managing employee spend
Center is a complete, connected corporate card and real-time expense management solution that streamlines employee spend, including managed and unmanaged travel, while giving finance teams the control and visibility they need.
Want to learn more about how Center can transform your company’s spend management?