How Are New Technologies Revolutionizing Corporate Travel?
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Technology has made a huge difference in the world. Any traditional process or product can be made easier with it. Thanks to technological advancement, processes that took a long time to complete are being completed in no time. Huge strides in technological development and adoption are happening in the corporate travel industry.
The tourism and business travel industry is dependent on technology. Both travel and technology are great. Business travel has changed due to technology, from choosing a destination to planning and booking trips.
Travelers can get more information from travel blogs, social media, and other platforms. Business travelers can use these to research their next vacation location, lodging options, weather forecasts, financial planning and more. The global market for business travel is expected to reach $829.5 billion by the year 2027 according to a report.
Service providers must make the right investments to integrate new technologies into their services because of this projection. There is a new technology that is revolutionizing corporate travel.
New technology and corporate travel
The way of doing things in the corporate travel world is being changed by new technologies.
1. Travel-management software (TMS)
A technological innovation used to book trips, manage upcoming trips, track ongoing trips, and report previous trips is travel-management software. The software is used to automate 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 do so A hassle-free trip is generated by the software after each trip.
Corporate travel planning can be hard. The development of software made life easy for both the travel manager and the corporate traveler. Travel software can help make budget decisions. Everything is provided for taxes and accounting.
There are lots of travel-management software on the market. One of the most popular is trip action. Innovative booking and management technology, advanced automation capabilities, and top-rated customer service are what it is known for.
It is possible that Tripaction is not the right management software for everyone. You can find a list of alternatives to Tripactions.
2. Mobile technology
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The most important new technology in the corporate travel industry is mobile technology. It has helped with travel processes that were long in nature. Corporate travelers can use mobile technology to plan trips, find restaurants, book hotels, and find bleisure locations.
Business travelers rely on mobile devices for help. More than half of passengers worldwide use mobile devices to check in, according to a study by IATA. Some of the ways that mobile technology makes business travel easier are listed below.
- 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
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Artificial intelligence has been used in the private and corporate world in recent years. It is a dependable and easy solution due to the technology. The travel industry is using artificial intelligence to change its way of doing things.
Artificial intelligence is being used by the corporate travel sector to perform various functions. It may be difficult to describe the concept of Artificial Intelligence. Artificial intelligence uses computers and machines to carry out tasks humans wouldn’t normally do.
Humans and computers are programmed to do the same things in the same way. It could be in the form of problem-solving, decision making, or speech recognition and interpretation.
Artificial intelligence’s ability to execute tasks that traditionally required human input has made it useful in the corporate travel scene. Businesses can save time and money with the help of artificial intelligence, because it removes any chance of human errors and allows quick completion of tasks. There are some ways that Artificial Intelligence is helping 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
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When viewed through a digital device, augmented reality can change a person’s perception of their physical surroundings. The technology is being used in every industry. According to a report by Statista, the augmented reality market is expected to grow from 5.91 billion to 198 billion U.S. dollars by the year 2025.
New uses are emerging for augmented reality technology in the corporate travel industry. The adoption of augmented reality within the corporate travel sector has been influenced by the broad shift in consumer lifestyles over the past decade. Corporate travelers are used to using their phones frequently while traveling, so there is not much transition to using augmented reality on their phones.
Innovative developments to the travel industry can be brought about by the use of augmented reality. The corporate travel industry is changing due to augmented reality.
- 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 can match a human face from a video frame to a database of faces. It’s used to verify users through ID services. The function of facial recognition is to measure facial features from the image.
The technology is used for both security and law enforcement. Corporate travel is one area that can be done. Facial recognition is being used in corporate travel in a number of ways.
- 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.
They can walk through an automated ePassport control and get to the gate faster with this passport. It is possible to improve security by using facial recognition.
- 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 can facilitate a common platform for the aforementioned technologies to connect, which is why it has bigger potential than previously mentioned technology. Cloud computing and networks of data-gathering sensors are used in the Internet of Things. It can aid a higher level of personalization in airports and hotels.
Corporate travelers can use a centralized device to handle more services and appliances. Travelers can be notified of when their luggage is close or not by using the internet of things.
From enhancing customer experience to boosting service providers’ revenue, the internet of things is changing the corporate travel industry. The travel industry needs to include the Internet of Things.
Corporate travelers want ease from the moment they embark on a trip to when they return. New technology is making sure this happens. The article explores how new technologies are changing travel.
Lydia Iseh is a writer who has years of experience in writing content that provides value to the reader. She likes being part of the process that helps websites rank high on search engines and believes in the power of search engine Optimisation.