By 2020, 50% of the workforce will be under the age of 32 and will account for 50% of all business travellers. When it comes to business travel, studies show that this generation prefers autonomy and speed over process and is more comfortable planning their travel itineraries on their own than through corporate processes and agencies. Also, young business professionals are much more “experience” focused compared to their older counterparts. Startups like Oyo Rooms, Uber and Freshmenu offer business travellers the ease, experience and autonomy they need through mobile apps- whether it’s booking a cab or a hotel, ordering food etc.
Startups mentioned above have definitely made lives easier with all the basic necessities available at a single click. They’ve also made it easy to account for your company’s monthly or quarterly travel budgets, with their standardized pricing. Employers can conveniently control travel budgets by setting maximum spending limits or setting customised budgets for the needs of individual departments or teams.
The aforementioned startups also make it easy to define policies and spending budgets for business travellers across various designations, teams and projects. With a multitude of cab variants available (UberGo, UberX and UberBlack, etc), companies can decide the hierarchies of employees against the variants of facilities.
Lastly, these startups have presence across all major cities that business travellers typically visit. Company administrators can afford to make these merchant names a standard in their expense policy clearing any confusion in the traveller’s mind as to what his go-to merchants for travel bookings and management should be.
There surely are many more B2C startups that are making life easy for business travellers and their employers every single day. With simplicity, technology and transparency, they are making it easier for employers to create well-defined expense policies, and manage travel spends and budgets with ease and efficiency. For employees, these startups offer tools that give them the freedom to manage their travel on-the-go with minimal time and effort.
If you too would like to automate expense management for your business, you can refer to our ebook on The 6.5 Minute Guide to Automated Expense Management.