The article highlights two trends disrupting spend management: increased employee purchasing power and stricter tax/compliance regulations. Direct employee bookings lead to invisible spend, while governments demand comprehensive tracking. Companies need modern technology to integrate data for control and compliance.
According to SAP Concur's Global Travel Manager Report 2021, 60% of travel managers in the Americas and 58% in Europe anticipate government regulation changes, and 99% expect additional challenges in the next 12 months. Travel managers must handle last-minute changes, unused tickets, regulatory shifts, and reshape travel programs. The report emphasizes flexibility and technology support.
A SAP Concur blog post discusses how technology is changing traveler behavior in corporate travel and the relationship between booking channels and safety. Citing a GBTA study, it notes that 80% of travel buyers do not use technology to capture outside bookings, and nearly half of business travelers say their organization only knows where they traveled through expense reporting. Technology can enhance traveler safety in four areas: reporting, awareness, behavior guidance, and direct contributions.
A guest post on the SAP Concur blog by World Travel Inc. discusses traveler experience in global travel programs. It cites a 2019 whitepaper by SAP Concur and Wakefield Research, noting that better travel solutions lead to happier and more dedicated employees. Safety is the top priority for business travelers worldwide, so World Travel is investing in the WorldWatch platform for real-time event monitoring and traveler location. Additionally, single integrated tools and region-specific content help meet market needs.
SAP Concur published a podcast transcript featuring Accenture experts demystifying zero-based budgeting (ZBB). ZBB is not merely cost cutting but a management technique that reallocates resources to better align with business strategy by budgeting from zero. The discussion covers ZBB benefits, the concept of dual cost ownership, the role of technology, and change management. Experts note that ZBB improves resource allocation, enhances flexibility, and requires top-down sponsorship and continuous monitoring for sustainable savings.
A global survey of 1,500 finance executives by Oxford Economics reveals that over 90% of finance leaders consider big data, cloud, and security platforms essential for meeting their goals. The report emphasizes collaboration and automation for improving financial performance.
Data privacy is a major concern, with IBM reporting 78% of consumers believe a company's ability to keep data private is very important. Machine learning requires data, but methods like limiting personal data collection, k-anonymity, and differential privacy can balance privacy and accuracy. CIOs must see privacy as a sliding scale, not an on/off switch.
On May 19, 2016, the 'Fireside Chat' salon hosted by Jlunet was held in Beijing to discuss innovation opportunities in business travel. Guests from China Southern Airlines, CWT, and others focused on service, finance, technology, and big data. Topics included MICE potential, tech innovation reducing costs, and compliance risk control.