{"id":3695,"date":"2023-07-24T01:05:16","date_gmt":"2023-07-24T01:05:16","guid":{"rendered":"https:\/\/worldgo.ca\/newsite\/?p=3695"},"modified":"2024-07-18T05:07:11","modified_gmt":"2024-07-18T05:07:11","slug":"evolving-landscape-of-travel-expense","status":"publish","type":"post","link":"https:\/\/worldgo.ca\/newsite\/evolving-landscape-of-travel-expense\/","title":{"rendered":"From the Experts: Evolving Landscape of Travel &#038; Expense"},"content":{"rendered":"<h3 class=\"p2\">by SAP Concur team<\/h3>\n<p class=\"p4\">Today\u2019s T&amp;E programs \u2013 whether at a 150-person local company or a 50,000-employee global operation \u2013 saw more change in the last few years than in the past 10. For many of us, these fast-moving changes tested our resiliency, requiring that we challenge outdated processes but ultimately opening new opportunities for growth.<\/p>\n<p class=\"p4\">Programs must flex to traveler expectations about their own health and safety. The next generation of T&amp;E users \u2013 Generation Z \u2013 will rely on technology, advocate for the planet, and want to work within a company culture that resonates with them. Data must provide actionable information instead of just numbing volume. And digital innovation will continue, even as budgets tighten, costs rise, and economic and global uncertainty continue.<\/p>\n<p class=\"p4\">The SAP Concur webinar,\u00a0<a href=\"https:\/\/www.concur.ca\/\" rel=\"nofollow\"><span class=\"s2\"><b>The Changing Travel &amp; Expense Landscape<\/b><\/span><\/a>, is designed to help business decision-makers across the globe better understand the topics and challenges they face now and in the future.<\/p>\n<p class=\"p4\">Moderated by Amy Padgett, SAP Concur VP of Travel Marketing Strategy, the session features Lilli Donahue, Business Development &amp; Strategic Partnerships for Capital One, and Michael Forrester, Vice President, Business Development for ADTRAV. Throughout, the panelists share expertise and address questions, while an in-session poll of industry peers delivers collective insights.<\/p>\n<p class=\"p6\">Over 700 business professionals took part in the live session, hearing expertise and predictions like these:<\/p>\n<ul class=\"ul1\">\n<li class=\"li7\"><span class=\"s4\">\u201cWe\u2019re going to see a really big shift,\u201d Donahue observes. \u201cThe old manual entry way of doing T&amp;E slowly and exhaustively will fizzle out. Employers are going to need to keep up with these needs and demands. And so investing in new technology is exactly what they\u2019ll need to do.\u201d\u00a0\u00a0<\/span><\/li>\n<li class=\"li7\"><span class=\"s4\">\u201cAny type of task that can be automated or that\u2019s repetitive is going to be taken care of with AI and these emerging technologies,\u201d Forrester says. \u201cAnd any company that does not invest in that is going to be significantly behind.\u201d\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"p6\"><span class=\"s2\"><a href=\"https:\/\/www.concur.ca\/en-ca\/event\/webinar\/changing-landscape-0423?pid=3rd_party_email&amp;cid=ca_smb_worldgo_blog\" rel=\"nofollow\">Watch the full session<\/a><\/span> at your convenience to learn more, but here\u2019s a glimpse of what was discussed.<\/p>\n<h3 class=\"p8\"><b>Travel program flexibility<\/b><\/h3>\n<p class=\"p4\"><b>Key number:<\/b>\u00a091% of business travelers have travel flexibility expectations they see\u202fas essential for ensuring their health and safety while traveling\u202f.<span class=\"s5\"><sup>1<br \/>\n<\/sup><\/span><b>Expert insights:<\/b>\u00a0As business travel increases &#8211; and work-from-anywhere remains \u2013 post pandemic travel flexibility continues to be both important for the business and traveler.\u00a0 And when you add in the element of compliance, balancing flexibility can be complicated for companies to manage. With the past few years proving more business can be conducted remotely, each trip must increasingly be justified, especially amid inflation and tight budgets. Companies increasingly are using pre-trip approvals, encouraging alternate modes of travel, educating workers about new policies, and bringing employees together as they recognize the value of face-to-face contact to build relationships and teamwork.<br \/>\n<b>Peers say:<\/b>\u00a054% of webinar poll respondents say business travelers \u201coften\u201d ask for more flexibility.<\/p>\n<h3 class=\"p8\"><b>Next generation of travel and expense users\u00a0<\/b><\/h3>\n<p class=\"p4\"><b>Key number:<\/b>\u00a098% of Gen Z respondents plan to take steps to reduce their environmental impact while traveling for business over the next 12 months.<span class=\"s5\"><sup>2<br \/>\n<\/sup><\/span><b>Expert insights:<\/b> The Gen Z generation expects work to be mobile-enabled and able to be performed wherever they are located. Technology should reduce manual tasks and free them for challenging work, while minimizing their impact on the environment. Businesses are responding \u2013 and must continue to \u2013 by providing mobile booking tools that are personalized and promote sustainable options. Anything on paper \u2013 from booking to travel documents to expense reports \u2013 is history.<br \/>\n<b>Peers say:\u00a0<\/b>41% report their company offers \u201cremote work\u201d or \u201cwork from anywhere\u201d to attract younger talent.<\/p>\n<h3 class=\"p8\"><b>The power of data\u00a0<\/b><\/h3>\n<p class=\"p4\"><b>Key number:<\/b>\u00a061% of finance and IT leaders tell us their finance leaders don\u2019t have enough visibility into near-real-time employee spend data.<span class=\"s5\"><sup>3<br \/>\n<\/sup><\/span><b>Expert insights:\u00a0<\/b>Making data-driven decisions is much more difficult when you are swimming in information instead of gaining insights from it. That makes consolidating data from bookings, credit cards, and other expense sources critical to success. Dashboards can help you connect the dots that empower decisions. And metrics must go beyond trip costs to include traveler satisfaction and sustainability.<br \/>\n<b>Peers say:\u00a0<\/b>27% say disparate, disconnected systems make timely data-driven decisions challenging.<\/p>\n<h3 class=\"p8\"><b>Digital innovation\u00a0<\/b><\/h3>\n<p class=\"p4\"><b>Key numbers:\u00a0<\/b>72% of businesses think digital transformation is key to their business growth.<span class=\"s5\"><sup>4<br \/>\n<\/sup><\/span><b>Expert insights:\u00a0<\/b>The travel and expense space still has plenty to gain from automation and intelligent tools. Areas for investment include such digital payment options as virtual cards and mobile payments. Artificial intelligence is expected to deliver benefits in how employees access information on flights and hotels and explore \u2013 and see \u2013destinations in depth, while companies can predict travel patterns and get the most from each dollar.<br \/>\n<b>Peers say:<\/b>\u00a027% want technology to automate outdated paper and manual\/semi-manual processes, while 25% hope to make financial data and reporting more accurate and timely.<\/p>\n<h3 class=\"p8\"><b>Listen up and learn more\u00a0<\/b><\/h3>\n<p class=\"p6\">Watch the\u00a0<a href=\"https:\/\/www.concur.ca\/en-ca\/event\/webinar\/changing-landscape-0423?pid=3rd_party_email&amp;cid=ca_smb_worldgo_blog\" rel=\"nofollow\"><span class=\"s6\">full webinar<\/span><\/a> to discover more about current travel and expense challenges and access resources that can convert each spending decision from a moment of uncertainty into a moment of confidence.<br \/>\n<span class=\"s2\"><a href=\"https:\/\/www.concur.ca\/resource-center\/?pid=3rd_party_email&amp;cid=ca_smb_worldgo_blog\" rel=\"nofollow\">Access other whitepapers and eBooks<\/a><\/span> from SAP Concur today to stay on top of T&amp;E trends.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<hr \/>\n<p class=\"p4\"><b>Sources\u00a0<\/b><\/p>\n<p class=\"p4\">1, 2.\u00a0SAP Concur Global Business Traveler Survey<br \/>\n3. Study by Forrester Consulting on behalf of SAP Concur<br \/>\n4. Analysys Mason 2022, Travel, Expense, and Vendor Invoice Management Study<\/p>\n","protected":false},"excerpt":{"rendered":"<p>by SAP Concur team Today\u2019s T&amp;E programs \u2013 whether at a 150-person local company or a 50,000-employee global operation \u2013 saw more change in the last few years than in the past 10. For many of us, these fast-moving changes tested our resiliency, requiring that we challenge outdated processes but ultimately opening new opportunities for <a class=\"read-more\" href=\"https:\/\/worldgo.ca\/newsite\/evolving-landscape-of-travel-expense\/\">Read More<\/a><\/p>\n","protected":false},"author":8,"featured_media":3699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[182],"tags":[],"class_list":["post-3695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gen Z | The next generation of Travel &amp; Expense Users | Worldgo<\/title>\n<meta name=\"description\" content=\"The next generation of Travel &amp; Expense users \u2013 Gen Z \u2013 will rely on technology, advocate for the planet, and want to work within a culture that matches.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/worldgo.ca\/newsite\/evolving-landscape-of-travel-expense\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gen Z | The next generation of Travel &amp; 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