Tue. Dec 7th, 2021
Riya Business Travel Survey, Travel News, ET TravelWorld
Digitisation key to managing an efficient and effective travel programme: Riya Business Travel Survey
Digitisation is the key to managing an efficient and effective travel programme to drive optimisation. Revealing its findings, the Riya Business Travel Survey 2021 highlights that Covid-19 has fast-tracked digitisation of service and delivery models of business travel across industry segments. This adoption of digitisation has led to a reduction of cost, fewer human errors, and has helped transform business processes while driving innovation and enhancing the experience.

The paradigm shift along with a strategic approach towards digitisation and its implementation will be the cornerstone of business travel programs worldwide in the foreseeable future. The report highlights a detailed coverage of the digital platforms used for trip planning, execution, payment methods to drive financial efficiency, and expense platforms for efficient accounting to match budgets with costs. The respondents constituted a mix of Fortune 500 MNCs, large Indian conglomerates, and small and medium business enterprises from industries that included IT, ITES, pharma, and healthcare along with manufacturing, automotive, consulting, oil and gas, as well as banking and financial services.

About half the respondents in the Deloitte survey said they plan to adjust their business travel policy to decrease their environmental impact within the next year.

The insights provided by global and Indian multi-nationals in the survey indicate a clear preference in integrating risk advisory and duty of care into the approval matrix for travel. There is also a significant push towards automation with a focus on the adoption of new technologies and enhancing online adoption for fulfilment. Cost optimisation continues to be an underlying theme backed by controls and compliance underpinning the importance of managing cost-efficient programmes. While cost optimisation is on top of the list mainly for the automotive industry, the consulting sector highlights the adoption of new technology as a priority along with the traveller’s experience. Duty of care is the biggest requirement for the pharma and healthcare sector, followed by analytics and insights.Digitisation key to managing an efficient and effective travel programme: Riya Business Travel Survey
The needs also vary depending on the size of the companies. Companies with more than 50,000 employee base, prioritise adoption of new technology and traveller’s experience, while organisations with a 2000-5000 employee base want to optimise cost and get analytics and insights. Companies with a 5000-50,0000 employee base, rank duty of care high on their list, while corporations with a large employee base want to enhance their technology and improve the experience of the business traveller.

Travel risk advisory and duty of care are clearly focused areas for enterprises as they emerge from the shadows of the pandemic. The traveller’s confidence needs to be built around updated travel information, risk advisory, and local support and assistance on the ground. The priority accorded by enterprises on this aspect clearly outlines the need for an integrated solution to meet the challenges around global health guidelines, critical traveller on-site support, and evacuation coordination.

Air travel remains in crisis despite accelerating vaccine rollouts in developed countries. With video calls having replaced in-person meetings, it remains to be seen to what extent business travel will recover.

Speaking to ETTravelWorld, GMJ Thampy, CMD of Riya Group, says, “Riya Business Travel on its part has been adapting and navigating through these tumultuous times be it innovating and assisting enterprises in their efforts for digitisation of their business travel. It is with a view to understand the evolving trends and shift in priorities within business travel programmes that the ‘Riya Business Travel Survey 2021’ was conducted. The responses generated provide us critical insights into the travel trends of industry segments for enterprise travel within India. Valuable insights on Travel Policy, Key priorities, strategic industry direction have been analysed for a better understanding of the characteristics based on industry segments and size of the enterprises.”

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