Looking back can be one of the most effective ways to look forward.
That’s why Navan published a guide to the key T&E takeaways from 2022 that travel and finance managers can use as a springboard to greater success in 2023.
This past year, of course, was a tumultuous one for businesses of all sizes. Inflation dominated the headlines, and the economy seems poised to dominate many news cycles ahead. Yet against that backdrop, business travel returned in a big way, with employees once again hitting the road and spending as they went. This shift wasn’t just anecdotal; Navan data clearly showed the increasing return to pre-pandemic levels of travel and spend, and the guide covers just how much travel came back.
But while controlling costs was top of mind for companies, many of them came to realize that cutting travel wasn’t the most effective way to cut costs. That’s because, after scaling travel programs way back in 2020 and 2021, businesses understand that in-person meetings have become more important to growth than ever. Sales teams have relied on them to close new deals and nurture existing client relationships. And as remote work has become the new normal, disparate teams now rely on travel for greater cohesiveness and collaboration.
The key to controlling travel costs, then, has been to reduce the cost of each trip—and to find efficiencies in the entire travel process. Companies using legacy travel and expense solutions have had trouble doing that, but it’s exactly why Navan was created, and Navan customers have been able to realize savings without cutting travel.
The Navan solution has also helped companies adapt to easily handle the new groups of employees who are traveling for work. Those include engineers, marketers, and other teams who are on the road for team offsites and other events. Here too, companies using Navan have been able to realize efficiencies by making use of the Team Travel tool, which streamlines bookings for groups of up to 50 people.
Controlling costs and accounting for a new type of traveler: These are just two of the seven T&E takeaways from 2022 that travel and finance leaders can use to make 2023 even better—no matter what obstacles may arise.
Get all of the key takeaways: Download the guide, 7 T&E Lessons From 2022 to Make for a Stronger 2023.