Tuchscherer will help propel TripActions into next phase of hyper-growth in new CFO role, scaling the company to reach new markets, industries, and enterprises around the world
PALO ALTO (December 11, 2019) - TripActions, the fastest-growing business travel platform trusted by organizations of every size, industry, and geography, announced that Thomas Tuchscherer has joined the company as CFO. Tuscherer brings more than 20 years of financial and operations experience in scaling hyper growth tech companies to his new role at the corporate travel management leader.
“As we continue to scale globally with 5X year over year growth, it’s the right time to create the CFO role and bring in a leader like Thomas with the breadth, depth, and caliber of experience in both finance and technology to lead our world-class finance organization,” said Ariel Cohen, co-founder & CEO, TripActions. “The reality is that the CFO plays a critical role in every organization’s growth trajectory—including at every one of our customers. Thomas’ background, experience, and passion for the user compliments our mission-driven leadership team and culture to propel TripActions into our next phase of growth to reach new markets, industries, and enterprises globally.”
“As a CFO, I’ve always had my eye on travel as one of my largest expense line items. Having used multiple legacy tools throughout my career, the challenge was always a lack of visibility into actual travel spend,” said Thomas Tuchscherer, CFO, TripActions. “After leading the selection process for a corporate travel solution at Snowflake and discovering TripActions, I’m thrilled to join another organization that delivers an enterprise platform that users actually love. Because employees want to use TripActions, adoption is incredibly high, giving finance leaders and travel managers the visibility they need to finally be able to optimize travel spend and save money without sacrificing employee experience.”
CFOs have seen nearly every other part of the business—even those with much smaller budget impact—leverage tech to drive improvements and efficiencies. Sales drove efficiency at scale with Salesforce, finance and HR via Workday, procurement through Coupa, product development using Atlassian, and marketing with Marketo. But travel has been left behind, forcing CFOs and travel leaders to compromise.
“Legacy tools deliver a frustrating booking experience with limited inventory and inconsistent support while nickel and diming clients to death,” noted Tuchscherer. “B2B online booking tools offer clunky UIs and little-to-no traveler support that require unpopular company-wide mandates to drive adoption. And consumer sites fail to deliver the spend visibility, reporting, and analytics we need. Until now, we’ve been held back by antiquated corporate travel management tools.”
The good news is that travel managers, CFOs, and C-Suite executives no longer have to sacrifice. Delivered within a powerful, easy-to-use mobile-first interface, TripActions is a modern, purpose-built corporate travel platform that empowers finance leaders and travel managers to deliver a great traveler experience while optimizing for cost control and savings. TripActions offers consumer-like ease of use, convenience, and instant satisfaction with unrivaled inventory choice, powerful personalization, and 24/7 global travel agents that travelers love, driving user adoption to 90% and above. High adoption ensures finance leaders and travel managers get the spend visibility, control, data, and insights they need to optimize their travel programs, save money, and fulfill their duty of care commitments.
More than 3,000 enterprises, including Zoom Video Communications, Lyft, Okta, Box, Crate and Barrel, Allbirds, and Sara Lee Frozen Bakery, trust TripActions to manage $2 billion in annual travel budget. TripActions reduces average booking time from 60 minutes down to less than six, delighting employees with an unprecedented 93% traveler satisfaction while achieving cost savings with up to 34% savings on lodging alone.
As CFO, Thomas Tuchscherer oversees all financial planning and analysis, accounting, tax, treasury, investor relations, corporate development, and facilities for TripActions. Prior to TripActions, Thomas served as CFO at Snowflake, CFO & VP of Corporate Development at Talend, in various leadership roles over product, strategy, operations, and planning at SAP, and as VP of Corporate Development at Cartesis. He also worked at several investment companies earlier in his career, one that spans more than twenty years in roles in North America, Europe, and Asia. Thomas earned his MBA from ESSEC and his B.A. in Economics at McGill University.