KAYAK is making significant advancements in the business travel sector with its new enterprise solution. Eva Fouquet, Senior Vice President of KAYAK for Business, has provided insights into how this platform aims to resolve persistent challenges in the industry. By enabling interoperability across various booking platforms and incorporating blockchain-based expense solutions, KAYAK seeks to simplify the travel management process for both companies and their employees.
Addressing Pain Points in Corporate Travel
The KAYAK for Business platform is designed to address key issues in corporate travel, such as content management, servicing, data integration, and expense reporting. By partnering with major airlines and leveraging innovative technologies like Blockskye Pay, KAYAK is positioning itself at the forefront of a transformative shift in how business travel is booked, managed, and analyzed. This approach is expected to improve the traveler experience while providing companies with robust tools for policy compliance and data-driven decision-making.
Content Management and Enhanced Servicing
One of the major challenges in corporate travel is content management. Companies need control over the flight options available to their employees, ensuring they can access all flights, prices, and extras based on their loyalty status. KAYAK for Business addresses this by integrating new APIs from major airlines, allowing travelers to purchase tickets directly from airlines. This integration means travelers can book and manage their flights through the platform, an agency, an airline website or app, or even at the airport.
By streamlining the booking process and offering a user-friendly experience, KAYAK aims to meet both corporate and employee needs effectively. The platform also facilitates easy access to changes in travel plans, consolidating content from various sources into a seamless interface supported by a consistent data model on the blockchain.
Blockchain-Based Expense Solutions
Expense management is another critical pain point in corporate travel. According to a KAYAK survey, 43% of US travelers struggle with managing expenses during business trips. To address this, KAYAK has teamed up with Blockskye to implement Blockskye Pay technology, which eliminates the need for credit cards when booking trips and simplifies expense reporting. This solution promises to save time and money by removing manual reporting and allowing instant expense confirmation. It also highlights and promotes unused tickets, helping large companies avoid financial losses from unused tickets.
Enhancing Data Integration and Analytics
The new platform emphasizes data integration, providing both companies and travelers with real-time tracking of travel plans and expenses. This capability can transform the way companies manage their travel programs, shifting from descriptive analytics (analyzing past events) to prescriptive analytics (predicting and optimizing future events). With comprehensive data, companies can negotiate better deals with airlines for customized bundles and improve overall travel policy compliance.
Industry Shift and Competitive Landscape
KAYAK’s collaboration with major airlines to provide direct connections and enhanced traveler functionality signifies a shift in the industry. Airlines are increasingly focusing on driving bookings through their direct channels, prioritizing their loyal customers. KAYAK’s solution facilitates this connection, ensuring compliance with duty of care, reporting, policy compliance, and other essential services. This shift is expected to be a long-term trend, with users and suppliers favoring solutions that align with this strategy.
The platform’s real-time tracking and data integration capabilities enable companies to make more informed, data-driven decisions regarding their travel programs. This can lead to improved employee satisfaction and compliance with corporate travel policies, as employees have access to all airline options and can add extras when booking. Knowing what is covered in the ticket, choosing preferred seats based on status, and paying for luggage are crucial for travelers, and KAYAK’s solution aims to provide these features seamlessly.
Conclusion
KAYAK’s new enterprise solution represents a significant advancement in the corporate travel sector. By addressing key pain points such as content management, servicing, data integration, and expense reporting, the platform promises to streamline the travel management process for both companies and their employees. The integration of blockchain-based expense solutions and enhanced data analytics capabilities further strengthens its appeal, positioning KAYAK at the forefront of a transformative shift in business travel management. With its focus on providing a consumer-grade experience for business travelers, KAYAK is set to influence employee satisfaction and compliance with corporate travel policies positively, while offering companies robust tools for policy compliance and data-driven decision-making.