No question: At the end of a busy year, it can be challenging to find the time for a moment of reflection on the successes and challenges of the past 12 months—and how they might influence your department and company in the year ahead.
To help in the process, TripActions created the guide “7 Travel and Expense Lessons From 2021 to Make For a Stronger 2022.”
Here’s one thing that 2021 has made clear: The traditional ways of managing travel, corporate cards and expense simply won’t cut in an age when so much is in flux, and while companies are demanding that teams find cost and time savings.
Fortunately, there are steps that will smooth the way into next year and help achieve these goals.
With travel managers, for example, managing risk has become more important than ever. And it’s not just the risk of traveler health and safety—it’s also the risk of trip cancellations that disrupt business and result in financial loss. How can managers rise to this new level of risk, when so much is at stake? The answer begins with having travelers book on the mandated company platform. It keeps them in policy, helps managers achieve the necessary duty of care, and saves the company money. Yet in a survey from TripActions and Skift, almost 70% of surveyed business travelers said that their solution is not easy to use, and more than half replied that their service doesn’t support them well on a trip.
Finance managers are also being asked to do more with less. Fortunately, they too have steps they can take to maximize the effectiveness and efficiency of their departments. Virtual cards, for example, allow them to more efficiently manage the changing spending patterns of a remote workforce, thanks to the ability to turn the cards on and off, tie specific policies to them, and take advantage of increased fraud protection.
The bottom line is that 2022 will be a key time for many companies, with more travel happening, more expenses incurred, and higher expectations for both travel and finance managers.
And that’s exactly where TripActions comes in, with an all-in-one solution that streamlines the entire process, from an intuitive booking experience through to trip’s end, and from dynamic expense policy to automatic reconciliation.
Check out all seven lessons from 2021 and use the takeaways to plan for a more productive and successful year in 2022.