BUSINESS TRAVEL TECHNOLOGY MARKET MATURITY ARRIVES
Multiple Factors Influence True Savings Picture
The Institute of Travel & Meetings (ITM) UK & Ireland has released the results of its latest research across members who buy and manage travel and meetings for their companies, representing expenditure in excess of £34 billion worldwide. The survey, focusing on the success of technology to drive savings and enable efficiencies, looked at the measured savings and technology types adopted by corporations across their travel and meetings programmes.
The research found that:
- 70% of buyers managing business travel presently utilise Self Booking Tools
- 58% utilise expense management software and 52% use technology for traveller tracking
- 33% were planning to implement mobile traveller updates and 25% were planning to implement meeting booking tool solutions in the future
- Estimated measured and proven savings achieved through Self Booking Tools averaged 7%
- A minimal 8% utilise social networking type tools as part of their travel and meetings programme
Paul Tilstone, Chief Executive of ITM, said about the research, "The results suggest that the years of building technology solutions have paid off. From front to back end, technology is now an integral part of any transient business travel programme. The indications are that the same will occur to the meetings and events sector in due course and that the emphasis for those managing mature travel technology programmes will move to mobile traveller solutions."
The research assessed buyer attitudes to the impact of visual guilt, the technology sales process and priority development areas for booking tools.
The responses also suggest that the cost and workload associated with implementing and maintaining technology solutions is, however, regularly underestimated by both buyers and suppliers.
Colin Goldney, MD of ITM's research partner, Argate, added, "The plethora of technology solutions allows corporations for the first time to really build innovative and tailored solutions. But in a highly complex and fast changing market, it's difficult to know which technology types will deliver ongoing efficiencies and what the true service and saving abilities are. It appears that a much bigger time and financial commitment is required by those managing programmes for technology to deliver to expectation."
The full survey report can be purchased in the ITM shop and will become free to members after 6 months in May 2010.
