Quick: What’s the difference between TMC and OBT? What is work life like for travel and finance managers? What does success look like for a modern T&E program?
Those are just some of the questions answered in this guide, Business Travel 101 — a comprehensive, 28-chapter compendium of T&E industry terminology and an insider’s look at how program elements should best align to optimize the performance of business travel and expense.
Check out all the helpful information in this guide: Mastering Business Travel 101.
What Business Travel 101 Means
When trying to understand an industry, it’s important to have a working knowledge of the terminology used. That’s why this guide defines key terms like “inventory” and “leakage,” as well as acronyms to know, like GDS (Global Distribution System) and OTA (online travel agency).
This guide goes beyond basic terms, delving into the various components of a T&E program and discussing how managing them effectively can save a company time and money, as well as reduce risk. For example, the program must be able to help keep traveling employees safe, while incorporating dynamic policy can help cut costs.
This guide also gets into the importance of integrating expense management into the travel program. Benefits like real-time visibility into travel spend can give businesses an enormous advantage when it comes to future planning.
Get more details on T&E basics in this guide: Mastering Business Travel 101.
Finding the Right T&E Solution
The Business Travel 101 guide doesn’t just define the issues and challenges that come with managing travel and expense; it also offers actionable advice, such as how to find the right T&E solution for your company. After all, some companies cobble together 2 or 3 different solutions, while others don’t use any automated solution at all.
For various reasons, moving away from an existing system can present challenges for a company. But those that make the switch to a modern T&E solution can reap benefits in time and cost savings. That’s why this guide offers tips on what to look for in a new T&E solution and how to go about the RFP process.
The guide also covers the differentiating factors that have made Navan the industry’s leading T&E solution. Navan was built from the ground up to integrate travel with expense and to be user-friendly. It offers robust inventory, tools to manage policy at a granular level, automatic reconciliation for finance teams, and much more.
Inside this guide, you’ll also pick up tips on how to make sure you’re leveraging all the benefits of the T&E solution and how to garner feedback from employees.
In short, this guide outlines all the information you need to make an informed decision about the best way to handle your T&E program moving forward.
Learn more about what makes for a successful T&E program in this guide: Mastering Business Travel 101.