The research is based on insights from more than 250 travel management company (TMC) executives, gathered through a quantitative survey as well as interviews.
Globally, 49% of TMCs see a shift from unmanaged to managed travel and the figure is higher for Asia-Pacific (APAC) at 57%. This comes as planning for a business trip becomes more complex with logistical and risk management processes.
Last minute changes are becoming increasingly common, due to changes such as flight cancellations as a result of new quarantine restrictions or testing requirements.
‘This indicates that as the needs of business travellers evolve, so do TMCs’ role in managing these disruptions,’ the report says.
Technological advancements are cited as the top strategy for the recovery of business travel by 71% of TMCs surveyed in APAC, 63% globally.
The survey shows that other recovery strategies include cost optimisation (global 49%, APAC 63%), where TMCs automate tasks like routine service desk enquiries or offer more self-service tools to clients so they can focus more on the duty of care for travellers.
Diversification to new revenue sources is also seen as an opportunity. ‘Business travellers are seeking more services and content, which means TMCs can look at different technologies to enhance customer service, including improving mobile apps and messaging tools, virtual payment offerings and self-booking tools with fuller content.’
Meantime, duty of care is now identified as the number one business travel requirement for clients – 68% in APAC and 65% globally.
To read the report CLICK HERE.