A new report by global travel management company BCD Travel examines how emerging technologies will have an impact on sourcing in the business travel industry.
“Given that corporate travel buyers are now headed into annual supplier negotiations, sourcing is a great topic for our debut Inform series paper,” said BCD’s Miriam Moscovici, director of emerging technologies and leader of the team that produces Inform and the widely ready Industry Forecast. “The paper helps travel buyers better understand how to to use digital technologies—like artificial intelligence and chatbots—in sourcing scenarios. This is real-world information for real-world programs.”
The paper offers insights into identifying and selecting suppliers and products and services. It delves into pricing and contracting; how to present choices to travelers; payment innovations; and supplier performance management. Among the highlights:
- How blockchain allows smart contracts and smarter management of suppliers’ traveler loyalty programs
- Ways machine learning can help lower hotel rate caps and give preference to less expensive hotels
- The role of virtual reality in replacing and reconfiguring in-person meetings
- How bots are expanding beyond chat into automation of routine tasks like spend analysis, catalog management, purchase order creation, invoicing and payment processing.
The sourcing report is the first in a six-part series on emerging technology and corporate travel management. Future reports will explore:
- Duty of care
- Payment & expense
- Performance management
The second paper will be released in October.
To learn more about the series, contact your account manager or contact the Inform team.