The New Realities of T&E May Surprise You
In the ever-changing world of business, two goals — growth and profitability — remain the same. Of course, one very effective way for companies to keep advancing those goals is through business travel. And while the key to making that happen is by running an effective, efficient T&E program, that can be tricky.
To help, we publish a guide halfway through each year, The New Realities of T&E, covering key industry trends that can help you optimize your program for the all-important final months.
Here are three of the seven trends in T&E to know now.
Real-Time Data Is Not a Nice-to-Have
Quick: Which department had the highest policy compliance rate last month? What about last week? The ability to access data like this, in real time, can enable you to see patterns before they become trends. By staying one step ahead of potential problems, you can make helpful shifts in spending or changes in policy.
That’s why Navan offers advanced analytics. More than just a dashboard, this robust yet simple-to-use tool enables companies to dive deep into their data — in real time — to gather key information like who’s traveling and spending and who’s staying within policy while they do it.
Gone are the days when travel managers can take time to request data from their travel solution and then wait (and wait, and wait) for a response with information that has since become outdated. However, armed with easily accessible, real-time data, you can take immediate action to optimize your program, which can have an outsized effect on the company’s overall trajectory.
NDC Has Become Critical
Having access to as much inventory as possible gives your travelers more flight choices, including more convenient — and potentially less-expensive — options.
New Distribution Capability (NDC) has become a critical technology in this quest. But some travel solutions shy away from the work it takes to set up and maintain NDC connections. Instead, a travel solution that does the work and continues to expand its NDC offerings helps you access the inventory your company needs.
That’s exactly what we’re doing at Navan. We’ve seen the value in NDC — we’ve even proven that it can save companies money.
Check In On Employee Happiness
Employee well-being is so important in today’s market that the U.S. Chamber of Commerce named it a top priority for 2025.
Business travel is a great place to focus. After all, a cranky traveler can also be a cranky employee — especially if it takes them an hour to book a trip, an hour to reach customer support, and multiple hours to create an expense report. Removing those obstacles, and offering some perks to employees for their time on the road, can help boost morale.
It’s why we at Navan prioritize user experience throughout the entire T&E journey. One way we’re streamlining the business travel experience is by incorporating AI into our booking experience and our support operations (which always offers the option of talking to a professional agent).
Sparking travel joy is also why we offer Navan Rewards; employees who save company money can earn perks they can use for personal travel booked on Navan — at the same great corporate rates as when traveling for business. Win-win.
This content is for informational purposes only. It doesn't necessarily reflect the views of Navan and should not be construed as legal, tax, benefits, financial, accounting, or other advice. If you need specific advice for your business, please consult with an expert, as rules and regulations change regularly.