Travel and Expense
The Challenges and Opportunities of SMB Travel
Last year, it was clear to SAP 蹤獲弝け that a large portion of the UK economy simply wasn＊t being serviced when it came to business travel. Although SMBs make up more than 99% of private sector businesses in the UK 每 and crucially employ more than??每 the business travel industry has been geared towards the larger end of the scale: the enterprise-size organization.
What many providers of travel solutions need to realize is that businesses of all sizes have become more global in their outlook and structure, and it is now far easier 每 and cheaper 每 for SMBs to travel.
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But Why do SMB Companies Need Specific Travel Solutions?
A big part of answering this question is the flexibility needed by smaller businesses, which is something not often found in enterprise-focused businesses. This is where the data collection of Triplink, for example, comes into its own as one of the most important parts of an SMB travel program, allowing spend to be captured from a huge array of sources. This then helps companies to save money, remain compliant, provide duty of care, and be more productive.
Furthermore, small businesses often don＊t have a dedicated travel manager to oversee processes, meaning that other roles, such as HR, are drafted in to oversee travel, while employees themselves are tasked with finding and making appropriate bookings. This then relates to a lack of education too: How can you comply with international regulations or fulfill duty-of-care obligations if you have no idea what they entail?
Another easily overlooked aspect of SMB travel is the role played by domestic routes. Just because a salesperson is traveling within the country, rather than outside it, doesn＊t mean that their journey should not be planned, booked, and overseen in the same way as an international trip. For many smaller businesses, these trips happen regularly.
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What Specific Challenges Can be Faced by Smaller Businesses When Traveling?
Firstly, companies without an effective travel solution tend to generate a huge amount of administrative work for themselves, including finding the right booking, paying for it, and filling out expense reports. Small businesses are often the most time-constrained, so this can result in more stress for the employee involved.
Secondly, the booking habits of SMBs 每 even more so than large organizations 每 mimic those of people booking for themselves. The approach is fragmented, destination-focused, and often booked late. This then creates a black hole for money, with little-to-no visibility as to where it is being spent until the expense report is begrudgingly filled in and submitted.
Duty of care also suffers without appropriate technology in place. You might be able to track a flight and find out when someone has checked into their hotel, but there＊s a gap between these two points (more often than not in a cab) where that visibility is reduced to zero.
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How is SAP 蹤獲弝け Looking to Tackle This?
As we mentioned above, Triplink holds the key to a successful SMB travel program. It allows businesses to capture spend across an enormous ecosystem of partners, allowing a full, connected picture of the trip and its spend.
But Triplink is only as strong as the ecosystem surrounding it, which is why the?partnering with Booking.com?late last year has made such a tremendous difference to smaller businesses and their travel. Consumerization and the desire to book in much the same way as you would at home is a major trend in business at the moment, so allowing businesses to book through Booking.com and still capture spend is a powerful tool.
This spend capture can then be analyzed to better the financial health of a business; but without this data, these insights just cannot be achieved. Data allows SMBs to make deals with chains they often use, avoid the more expensive options, and ensure they are running a streamlined and effective travel strategy.
The partners and their subsequent data capture also positively affect duty of care usage. Using Uber as an example, an organization can track the journey to ensure safety 每 with the direct expense integration just an added bonus. This awareness also means that an employee can be easily reached in case of an emergency, respond and even be pulled out by a security team if need be, by our recently launched 蹤獲弝け Locate solution.
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Travel Needs are Universal
The way in which SAP 蹤獲弝け has set about putting together its comprehensive suite of travel products means that it can apply to a company of any size. We are working with partners best suited for smaller businesses (such as Booking.com), putting our emphasis on education and learning on how best to deliver a travel strategy that works and keeps your employees safe. This is then sold by our team of experts in the field of small and medium businesses.?
Travel is becoming increasingly more inclusive. We want to ensure that the insights, safety, and ease of use when organizing it are too. Learn more about SAP 蹤獲弝け solutions for small businesses.?
