Implementing Digital Enablers for Your Business Travel Program
Digital enablers are technologies that drive digital transformation, serving as a platform for more targeted applications. Some primary and recognizable examples include cloud computing, mobile computing, and Software-as-a-Service.
Most procurement functions are already using a host of digital enablers to varying degrees. For example, most businesses are already using cloud-based technology. However, not every company is using digital enablers to enhance their business travel programs. Despite the availability of cloud-based business travel software, tracking applications, and even IoT sensors, some organizations still rely on manual methods to manage their travel programs.
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Here, we'll explore how procurement teams can use digital enablers like the cloud to enhance their travel programs.
Procurement Organizations Lack Confidence in Their Digital Enablers
Most procurement functions are already using a range of technologies to manage supplier relationships, monitor spending, and reduce costs. Indeed, several organizations have taken broad steps to digitize the procurement experience, improving processes for users, suppliers, and the organization as a whole.
However, a recent report sponsored by WNS Denali revealed that many procurement leaders aren't as confident as they could be in their current use of digital enablers.
Based on the study, only 40% of procurement leaders were "very confident" that their organization has the right digital enables to achieve their procurement goals in 2022. The remaining respondents were only "somewhat confident" (42%), "not very confident" (17%), or "not at all confident" (1%) in their digital enablers.
This indicates that most of the respondents feel there is room for improvement. Specifically, they could be drawing more value from their existing digital enablers or implementing additional digital technologies to enhance their procurement functions.
These results have a direct impact on company travel programs, as most business travel policies now depend on digital solutions to ensure both travelers and suppliers are meeting requirements.
To improve, 60% of the respondents said they were planning to select and deploy a new technology platform in 2022. These respondents believed a new technology platform could improve the user experience for procurement professionals, but also business stakeholders, including travelers themselves.
Notably, significant numbers of the respondents also planned to increase the adoption of existing technology within the organization (43%) and improve data quality across the technology landscape (37%). Technology adoption among business travelers is key to ensuring policies can be digitalized and upheld while employees are on the road. Improving data quality is also key for travel programs, as accurate data allows the procurement function to manage costs, keep travelers safe, and analyze the value of their programs.
Digital Solutions for A New Era of Business Travel
What digital solutions will be necessary for an effective business travel program in the future?
There are several clear steps that procurement leaders can take to further digitize their travel programs. First, business travel software will need to be cloud-based. This will allow business travelers to book their travel using an online booking tool (OBT), which is essential for ensuring compliance with company policy. Cloud-based platforms also allow travelers to log in while on the go by using their smartphones.
In addition, the software should be able to integrate with a range of other digital technologies, including IoT sensors, mobile apps, and even chatbots. This will give procurement teams the ability to track business travelers in real-time, ensuring they are adhering to company policy and can receive updates on their safety and location.
Finally, software should also be able to provide detailed information about business travel spending. This can help procurement organizations identify areas where they can save money and track the ROI of their business travel program.
Digital Enablers Drive Transformation
Digital enablers are essential for driving digital transformation within procurement organizations. By digitizing the business travel experience, procurement teams can improve compliance, save money, and keep travelers safe.
To learn more about the new era of business travel, don't miss ProcureCon Travel 2022, happening from June 13th to 14th at the Omni Rancho Las Palmas, Rancho Mirage, California.
Download the agenda today.