Corporate Travel Policy

4 Treasury and Trade Solutions A number of key trends have emerged recently that impact the way travel is managed today. These trends can be categorized into three broader themes that are top-of-mind for travel managers. As you continue reading this paper, keep these themes in mind when evaluating the applicability of the best practice recommendations to your own travel policy. These themes include: Emerging Trends • Trust — Travel managers and employers are entrusting travelers with making cost-conscious and responsible booking decisions. • Security — Organizations are reviewing and revamping their traveler security protocols during the booking process and while an employee is on a trip. • Emerging Solutions — New entrants to the market, both travel suppliers and technology tools, are responding to the changing needs of travelers. Organizations are trusting their employees with technologies that enable them to book travel through multiple channels (e.g., mobile apps or chat bots) while ensuring that bookings are compliant with the organization’s business requirements. This gives employees the freedom to manage their own bookings and travel decisions while helping the organization achieve its goals. Organizations are becoming more stringent on how duty of care is addressed in both travel policy and trainings. In many cases, travelers are required to complete security training or specific clearance protocols prior to booking any travel, especially when traveling to high risk countries. Finally, new technology solutions are on the rise. Organizations are implementing solutions that are revolutionizing the way travel is booked and how savings are realized. The three macro travel management themes (Trust, Security, Emerging Solutions) align with the five sub-trends described below to provide a more complete view of changes in the industry and how they impact policy. These trends are leading to new ways of thinking about how to achieve an organization’s business goals, from the purchasing of goods and services, to regulatory compliance and duty of care, to travel program goals and preferred supplier programs. The sub-trends described below provide more insight into the how these trends are impacting policy.