Cost savings. It’s a topic that’s top of mind for just about everyone right now.
But how can companies save money without hindering growth? Making wholesale budget cuts just doesn’t, well, cut it. In order for a business to grow, employees have to keep traveling, and they have to keep spending. Navigating today’s economic environment requires a more strategic approach.
That may mean looking for cost savings in new places. And forward-thinking companies are finding one of those places is a travel rewards program—a solution that, for Navan customers, can drive savings of 30% or more on hotel spend. It’s just one of the incentives Navan employs to drive travel program success, and it’s an essential tool for companies today.
First off, the Navan Rewards program is different from a traditional travel loyalty program, which offers benefits to frequent travelers. The Navan Rewards program, on the other hand, incentivizes any traveler booking through the platform to choose a hotel that saves the company money.
It’s a feature that flipped the switch from traditional travel programs, which put a dollar cap on hotel rates. That practice incentivizes travelers to come as close as possible to the cap—i.e., spend more company money—so they can get a better room. As long as it’s in policy, why not?
Navan, however, shifted the focus from a blanket maximum. The idea is simple: The more an employee saves their company on travel expenses, the more rewards they earn to use on personal travel booked through Navan.
And best of all: The program is entirely funded by Navan — it doesn't cost companies a cent.
Why not book the hotel that nets an employee, say, $25 toward their next vacation? Navan Rewards benefits everyone involved. Employees are excited to book on Navan and earn rewards, and admins gain visibility into spend, save time, and earn traveler trust. It’s a true win-win.
One of the companies saving money with the Navan rewards program is EMJ, a commercial general contractor. By incentivizing employees with Amazon rewards, EMJ has saved 30–35% on hotels and 9% on total bookings since switching to Navan. The significant savings are especially welcome in today’s turbulent economy.
“If we had not switched to Navan, we would have continued spending more on hotels," said Ashley Hagaman, an accounting manager at EMJ.
Learn more about how your company can take advantage of all the innovative ways Navan drives cost savings.