New Year, New Trends: How Travel and Expense Management Will Be This 2019 and Beyond
Over the years, we have observed business and travel trends shift alongside technological advancements. And the past year has shown shifts continue to accelerate as we turn towards an ever-increasing global economy. And every business is not spared, from the biggest multinational corporation down to the smallest individual online shop.
Let’s take a look at how this new year will see more shifts coming and what we can expect from this year and beyond.
2019 Trends in Travel and Expense Management
1. More female business travelers. More and more women travel for business, and this presents different needs as compared to male travelers, especially in terms of safety. This brings to the table greater emphasis on corporate travel policies that protect women against safety and harassment threats.
2. Data privacy remains top-of-mind. Data privacy continues to be important among everyone who uses today’s technology. When it comes to coming up with products and services for users, data privacy protection must be kept in mind.
3. Machine learning will increase productivity. Machine learning and bots can see a significant increase in productivity as these become more common across many business processes. When it comes to booking and expense management, for example, activities can be easily automated, impacting compliance, insights gathering, and overall user experience.
4. CIOs and CFOs continue to closely collaborate. With more and more technologies targeting financial key functions, it’s important for these two key positions to closely work together. Certain technologies overlap with critical financial workflows, and meanwhile budgets needed to be maximized when it comes to information technology investments on various business-critical solutions.
5. Technology as an attractive retention tool. Traditional business settings are evolving to include online collaboration and remote workplaces. Technology can now augment workflows or crossover solutions that used to be impossible in the past. Today, progressive technological solutions will not only streamline production or operation, but also create cost-savings for the company. Meanwhile, employees can experience greater satisfaction with technology that helps them work better, easier, and faster.
With these trends in mind, Gorilla Expense is able to tailor-fit solutions to suit our clients’ needs and expectations. We provide value by providing much-needed solutions that provide cost-savings, increased productivity, happier employees, and strong business growth.