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Why business travel is a catalyst for growth and scalability

4 min
Posted: 24 January 2023
Man On Train Reading Ipad

Business travel is back, and it’s even more of a force in its resurrected form. We’re recognizing even more profoundly how business travel both connects us as humans and helps us utilize in-person meetings to solve complex challenges and spark creativity.

Being face-to-face in real life accelerates innovation, deepens relationships and loyalty, and builds trust. Which are all powerful drivers for growth.

Advice for fast-growing companies about their business travel

If your company is growing quickly, it’s very likely your ecosystem of companies, suppliers, providers and partners is also growing quickly. Which means you have more people on the road more frequently than you did before.

When you’ve got a team of 12 booking corporate travel, that’s one thing. But it’s an entirely different situation when you suddenly have 25, 50, or 500 people booking their business trips simultaneously.

The world has changed in the last few years, and today it’s critical to know where your travelers are, where they’ve been, and to provide duty of care and assistance to anyone who needs help while on the road.

And none of that is going to happen if your employees are all booking business travel randomly in whichever way they choose.

To give your travelers the care they need to make their travel experience positive, you need to partner with a travel management company (TMC) that has the scale to invest in both tech and travel service resources worldwide.

Travel is complex. Working with a travel management company provides a trusted business partner for you in setting and achieving your travel policy objectives around spend and savings, well-being and safety, and even managing the carbon footprint of your company’s travel worldwide.

Business travel is a strategic investment that can grow your business and help manage spend

All too often, businesses look at business travel as a cost center. But the truth is, business travel is a powerful lever for gaining a competitive advantage in innovation, collaboration, and even in setting and fostering company culture. And as companies use more intentional, smaller meet-ups as a way of bringing together remote teams and departments, business travel will be even more of a focus area.

So rather than look for ways to cut travel costs wholesale, it’s better to look for a business travel management partner who can both help you use travel more strategically and employ multiple levers to help you save while doing so.

Two business travel trends for fast-growing companies to consider

Two emerging trends that are powerful drivers of growth for fast-growing companies are: A focus on empowering travelers and bookers to serve themselves, and a spotlight on sustainability.

At your service, at your fingertips

Over the last two years, we’ve invested heavily in empowering travelers—and those who book their travel—to be able to effectively take care of their own needs in real-time.

Online (or mobile app) ticketing modification, cancelation, credit redemption, and chat functionality are features crucial in today’s fluctuating environment and empower the traveler to get what they need when they need it.

A sustainable future ahead

The second trend we’re seeing is around sustainability initiatives. The pandemic led many of our clients to rethink, reboot, and reset their travel programs. And as a part of that, sustainability has become a frequent pillar as our clients reshape their programs.

More and more companies are allocating carbon budgets to internal departments in the same way you’d have a business travel spend and expense budget. So, clients are now looking to optimize carbon spending along with overall travel spend. And we at Egencia are investing heavily in the tech and expertise to enable our clients to do so.

In this new world of business travel, the strategy you set and choices you make have an impact in more diverse areas of business than ever before. Which means that picking the right partner to implement a managed corporate travel program for your company can accelerate your growth across the board.

Interested in learning more about these business travel solutions? Watch the video below, or read this article, to get additional details about how Egencia supports fast-growing companies, and when is the right time to invest.

Looking for better business travel solutions? Get in touch with us.