Steve Sitto is associate director of procurement for global travel, meetings and events for Gilead Sciences. He was named a BTN Best Practitioner in 2019.
The business travel industry holds immense importance for companies, travelers and world economies. Travel facilitating business meetings, conferences and global business collaborations. Efficient travel management can improve supplier partnerships, increase productivity, enhance client relationships, and improve employee satisfaction and cost savings. Additionally, the travel industry plays a vital role in local and global economies, driving employment opportunities and contributing to economic growth.
Traveling for business opens a world of possibilities for individuals, providing them with a unique opportunity for exploration, cultural exchange, and personal and professional development. It allows our travelers to expand their perspectives, immerse themselves in diverse environments, and acquire valuable skills. Moreover, travel is vital in fostering understanding and empathy between individuals from different backgrounds, ultimately contributing to a more interconnected and inclusive world. The positive impact of business travel extends beyond the individual, creating a healthy and vibrant workplace culture.
Managing business travel, however, isn't always easy, but good travel management always adds value.
Ripe for Change: Where I've Found Travel Management Opportunities
- Distribution
- Continuous pricing
- New online booking tools
- Mobile applications and personalized messaging
- Sharing economy services and alternative accommodations
- Bleisure travel experiences
- Aligning with Environment, Sustainability and Governance teams
Right now, the business travel industry faces many challenges, from geopolitical unrest to adapting to evolving technologies to the constant corporate demand for cost optimization—especially now, as travel costs rise around the globe.
Travel management frameworks and technologies add to the complexity. The intricate web of travel suppliers, pricing strategies, regulations and traveler preferences can make navigating and managing difficult. Consequently, many travel managers have opted for simplified approaches, potentially missing out on optimization opportunities and cost savings. It's time to put those simplified approaches aside and face the complexities head-on.
I've recently been inspired by a shift in attitudes toward addressing the evolution of the travel industry. With the advent of advanced travel distribution technologies, data analytics, blockchain and other automation tools, buyers and suppliers now have the means to tackle some of the industry's most difficult challenges.
But we won't do it without collaboration—the lack of which has been a persistent obstacle between suppliers and buyers. To move forward, we have to find better ways to work together.
- Be transparent. Transparent communication breaks down barriers and enables collaborative solutions that foster trust and longevity.
- Embrace emerging technologies. The technology train has left the station. Travel managers need to get on board or risk being left behind—your ultimate destination will be the data-driven insights that only tech solutions can deliver. These will revolutionize decision-making and optimize travel programs.
- Share what works. Socialize your best practices and experiences by participating in conferences and workshops that foster innovation.
If we can do this, it will dramatically enhance travel managers' ability to impact the experience of business travelers and deliver value to our organizations. Top goals, in my mind, are the following:
- Gain traveler trust. Delivering an intuitive end-to-end travel booking and expense program encourages policy and program compliance, which enhances traveler safety.
- More strategic supplier relationships. Better data and more transparency will secure favorable contracts and create healthier partnerships, while enhancing the traveler experience and addressing spend optimization.
- Lower program administration costs. Innovation and technology streamline processes and improve program efficiency.
- Business enablement. Well-managed programs demonstrate the travel's contribution to organizational success.
- Organizational health. Optimizing travel costs, improving satisfaction and mitigating risks directly impact the bottom line. Travel managers become valuable contributors to financial health and growth.
Yes, managing travel is complex. But let's embrace these challenges for personal and professional growth and showcase the travel manager's strategic position and problem-solving skills. The tools and technologies exist today to transform travel programs. By working together, we can realize the possibilities and reap the rewards.