Business

In recent years, business travel has become a pivotal element for global success, driving professional growth and collaboration. However, the traditional process of planning and managing business trips has often been a maze—complex, time-consuming, and full of challenges. João Carvalho, Managing Director of SAP Concur in Southern Europe, Middle East, and Africa, acknowledges the struggles, stating that 82% of business travellers report needing pre-trip approvals, with 67% seeing an increased focus on approval processes in 2024. Balancing efficiency with compliance remains a significant challenge for many organizations.

The traditional travel approval process often burdens employees and managers, requiring extensive research to meet preferences, company guidelines, and budgets. Carvalho points out that this sometimes results in rejected plans despite careful preparation, leading to delays and frustration. However, AI is transforming how companies manage travel logistics, helping to automate time-consuming processes and ensure policy compliance, creating a seamless experience for both travelers and managers.

According to Carvalho, AI is reshaping the business travel landscape in several key ways:

1. Supporting Itinerary Development
   Travel planning is often like assembling a complex puzzle. Coordinating flights, hotel bookings, transport, and personal preferences requires immense attention to detail. AI helps travel managers by identifying potential conflicts and inconsistencies, ensuring more informed decisions and a streamlined planning experience. This reduces inefficiencies and saves valuable time.

2. Ensuring Compliance with Company Policies
   One of the most time-consuming aspects of business travel is ensuring that itineraries comply with company policies. AI streamlines this process by automatically integrating cost estimates into itineraries, aligning them with policies from the outset. This reduces approval times and prevents delays, helping to speed up the decision-making process.

3. Capturing and Reporting Expenses
   AI-powered assistants can also estimate travel costs, track and report expenses, and generate accurate expense reports. This automated system ensures fast reimbursement and saves time for both travelers and finance teams. A recent SAP Concur survey found that 37% of business travellers are considering using AI for automation in expense reporting.

Looking ahead, Carvalho predicts that AI-powered assistants will continue to evolve, offering personalized travel recommendations and more reliable cost estimates. As AI continues to integrate into travel planning tools, the benefits will only deepen. Business travel is slowly being transformed, making the process more efficient, cost-effective, and user-friendly.

• Tags
• #Business
• #Magazine
• #Lifestyle