The Business Travel Magazine Aug/Sept 2019

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The 2019 TECH HOTLIST summer sizzlers Change MAKERS New technology can both disrupt and streamline existing business travel processes. Nick Easen examines the players currently shaking up the market The biggest disrupter in the tech space right now are business travellers themselves. Today, we live in an era of great expectations, fuelled by the ease with which executives book their holidays. Therefore, there’s a drive to bring consumer-style tools to the corporate market. “Turning business travel bookings into a buzz instead of a bore is what it’s all about,” explains Neil Ruth, Co-founder of Taptrip. A user experience that’s as fast as doing a Google search is the goal, and there’s been a seismic shift in the industry over the last couple of years towards being able to deliver this. At the same time significant venture capital, VC money, is moving into business travel globally, creating the perfect storm. Just ask four-year-old TripActions. It’s already had a $4billion valuation. Unicorns are now gamely trotting on to the business travel scene. “This is an exciting time for the industry as more start-ups creep into this space. Some are working with travel management companies – others are going direct,” states Jenny Thornton, Director of Digital Services at travel management company ATPI. “Investors are seeing opportunities and supporting start-ups that are spotting new niches in the market. For the end traveller 16 THEBUSINESSTRAVELMAG.COM
XXXXX it’ll mean a much better experience and for the corporate it creates greater choice.” New tech-driven solutions are quickly filling in so-called black holes that have been poorly served by a highly fragmented market, whether it’s travel for SMEs, ground transportation, expense management or better duty of care programmes. “Any time that money is invested into the space it raises the bar and forces the industry to up its game, which can only benefit the traveller and their organisation in the long run,” says Kirk Hayes, Director of Product Partnerships at SAP Concur. However, business travel is a hard sector to crack and there’s a whole ecosystem of players out there. Not all innovations can be integrated seamlessly into the industry, which is pivotal for widespread adoption. And it is why a lot of disruption occurs at the fringes rather than at its core. It’s also a traditionally conservative industry. “It is easy to say, ‘oh but I can have that on my favourite leisure site or app,’ but the reality is that the value chain of business travel is a lot more complex,” says Christophe Tcheng, VP of Products & Platforms at American Express Global Business Travel. “You have to consider virtual payments, travel policy, reporting or expenses. This is where the opportunity lies. The industry goal is for business travel to be as seamless as possible,” adds Tcheng. Recently, there’s been a big focus on biometrics and AI, including machine learning, as well as big data and cloud computing technology. The aim is for greater personalisation and automation in business travel. Fare tracking and price forecasting, as well as the use of chatbots to book travel are also increasingly the norm. “The Holy Grail is about demonstrating ROI and taking traveller experience to the next level,” explains Valerio Fuschini, VP Chief Architect at CWT. “Whether it’s costcutting or revenue-enhancing, the onslaught of innovation will continue.” These are exciting times for tech disruptors and start-ups in the business travel space. Not all will survive, but it’s a stark warning for incumbents. “As the market develops, there will be fewer players, most of whom will be tech companies,” says Jill Palmer, CEO of Click Travel. “It’s the businesses that blend technology with a strong track record and customer service that will make the biggest difference in the industry.” It’s also true that the big boys are fighting back, with the titans of industry investing in incubating start-ups or improving their own platforms. A week doesn’t go by when an airline such as American Airlines – which has introduced a new management tool for travel managers – or a hotel group such as Millennium – which has launched a new app – announces a new or improved platform to service corporate clients. Watch this space. TRAVEL BOOKING TOOLS Taptrip: The vast majority of businesses in the UK are SMEs yet they’re woefully underserved by any form of managed business travel. This is where TapTrip comes in, allowing executives to book via their phone calendar. It has inventory around flights, hotels, rail and car services. It is a self-service travel and expenses solution facilitating bookings with just one tap. It was a former finalist at the BTA’s Entrepreneurs in Business Travel Awards and was the overall winner at the 2019 Disrupt Awards. Tripactions: Business travel platform Tripactions is already a unicorn in the US and is fast moving into the UK after raising $250million in funding. It’s a hybrid between a travel management company and an online booking tool. It currently works with more than 2,000 customers globally and claims to reduce booking times from 60 minutes to six minutes. Travelperk: Aggregation is the key word for this all-rounder start-up, as is seamless business travel management. The THEBUSINESSTRAVELMAG.COM 17
Page 1: 77 August/September 2019 LOUD AND C
Page 4 and 5: Travel and Events Implementing a bu
Page 6 and 7: ARRIVALS OPENING SHOTS Eye-catching
Page 8 and 9: ARRIVALS EVERYONE'S TALKING ABOUT..
Page 11 and 12: ARRIVALS THE KNOWLEDGE How to manag
Page 14 and 15: ARRIVALS EVENT REPORT BTA Conferenc
Page 18 and 19: XXXXX The 2019 TECH HOTLIST summer
Page 20 and 21: XXXXX The 2019 TECH HOTLIST summer
Page 22 and 23: EVENT PREVIEW The Business Travel C
Page 24 and 25: EVENT PREVIEW TBTC'19 EXHIBITORS HE
Page 26 and 27: awards meet the winner Colin Harvey
Page 28 and 29: THE CONVERSATION Chief Executive Of
Page 30 and 31: UK hotel groUps Right at hoMe The U
Page 32 and 33: UK hotel groUps The ongoing uncerta
Page 34 and 35: UK hotel groUps [ WHO OFFERS WHAT ]
Page 36 and 37: GALLERY The Business Travel People
Page 38 and 39: TECHNOLOGY [ Delays and disruption
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Page 42 and 43: PAYMENTS & EXPENSES We have single
Page 44 and 45: Visa, everywhere your corporate Vis
Page 46 and 47: PAYMENTS & EXPENSES direct consump
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Page 50 and 51: Upcoming destination, Iguazu Discov
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SMEs / Introduction expectations o
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SMEs / The TMC conundrum Getting TO
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SMEs / The TMC conundrum models wh
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SMEs / The TMC conundrum Darryl Mc
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SMEs / Back to basics the importanc
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Spend management / SMEs SAVE the pe
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SMEs / Spend management Even if a b
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SMEs / Data Cash flow CONCERNS Mana
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GALLERY Avis Budget UK at Henley Ro
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The Business Travel Magazine Aug/Sept 2019

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