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ROI and digital transformation in business travel

Posted: 14 May 2020
Topics: Technology

By Gijs Swaans, multinational/global field sales, EMEA

In this three-part series I’m looking at how the banking and finance industries are making digital transformation work for them and their business travel programs. My first post addressed what’s playing a role in digital transformation and how corporate travel culture is important in this industry. The second post looked forward at how this industry is adapting and embracing digital transformation in corporate travel. This final post will focus on creating momentum, transforming, and the ROI benefits for this organization.

The first part of any transformation starts with the decision to change. Choosing a direction, of course, leads to questions of how to get started, how to start implementing and then how to educate employees globally on the new tools and processes.

Fortunately, Egencia offers a Change & Project Management Solution to streamline the transition. This includes on-site education and training, demonstration of the platform’s features, and as much hands-on assistance during implementation as necessary. Based on our experience, we frequently help our customers build their internal teams to coordinate travel policies, business travel programs and drive adoption of the new system.

One important aspect of the Change & Project Management Solution is helping customers create happy travelers. Egencia prides itself on being able to accommodate the needs of many different corporate travelers. If you have travelers who are digitally savvy, we can help with mobile device apps. If your travelers prefer using offline services or find themselves in places where connectivity is limited, Egencia can provide offline assistance to help them get back on the road. Regardless of their preference, we aim to keep them safe and deliver great experiences every time.

The results? A dramatic efficiency improvement. With a traditional business travel agency, the vast majority of bookings were made manually or offline. With Egencia, our global digital travel platform enables our customers to make about 90 percent of arrangements online, resulting in much greater efficiency. Personnel stay focused on serving bank customers and delivering on their customer service goals rather than manually booking travel.

ROI, changing values, and gaining more with Egencia as your digital TMC

Egencia is able to work within the regulatory framework banks operate under in various countries in part because we build, manage, support, and control our own technology and the data that flows through it. With Egencia, there really is one single source of truth.

In addition to all the business intelligence and data we can offer to satisfy regulators, banks see savings from features such as Egencia Smart Mix. Egencia Smart Mix for Hotel has helped customers save hundreds of thousands of dollars by optimizing search and sort results. Egencia Savings Finder for Air also has unlocked more travel savings and value from business travel programs by automatically rebooking tickets at lower fares, saving customers millions of dollars. And with the recent release of Egencia Savings Finder for Hotel, customers will be able save even more on hotel bookings.

Global companies also have to respond to new needs among customers and employees. Sustainability and carbon footprints are increasingly important and can also enter the regulatory frameworks in some nations. We’ve added a workspace for visualizing carbon dioxide (CO2) emissions resulting from air travel and hotel stays to Egencia Analytics Studio.

Travel managers can now generate multi-dimensional dashboards about travel-related greenhouse gas emissions. These visual reports give business travel managers insights that empower them to support their organization’s and employees’ environmental goals. We can also flag routes that might produce more greenhouse gas emissions than others.

Global industry, global travel culture

Banks are international organizations facing the demands of digital transformation to succeed in our modern world. Egencia can bring that transformation for your business travel program by providing consistency and offering the depth and breadth of data to comply with regulatory requirements.

We respond quickly to customer requests and incorporate feedback as we innovate. For instance, I once had a prospective banking customer ask about a feature they wanted to see. I took that request directly into a product engineering meeting and we added the feature quickly. The customer was delighted and the travel program’s impact on digital transformation at that company grew.

It’s important to meet the organization wherever it is on its transformation journey.

To get started, find the change agents inside your organization. They might not be directly involved in the current travel program management but are likely consumers of the solution you’re providing. They’ll know the challenges firsthand and can offer perspective to help you create a great travel culture and be champions to lead through transformation.

To learn more about how Egencia can help you, take a look at our datasheet.

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