Even if plenty of managed travel professionals reject the concept, players that incentivize corporate travelers to beat trip budgets have gained investors, partners and some user acceptance. The latest to market is Tripkicks, which was founded this year with backing from Acquis Consulting to set trip budgets and offer monetary rewards to managed travelers who come in under budget.
Tech companies that help travel programs incentivize employees to book at lower prices have been attracting fresh funding. TripActions announced $51 million of Series B financing in March, and Rocketrip won $15 million of Series C financing in April. Those follow TravelBank's $25 million Series B funding last year for its travel booking and expense technology that also promotes a rewards program for travelers who beat budgets.
A few years ago, startups going explicitly after the corporate travel market were few and far between. Now, the number of new entrants and tech providers entering is growing, and so is the sum of venture capital behind them.
In a crowded crop of business travel tech providers eyeing the small business sector, TravelBank got a significant boost in capital this week, with $25 million in additional funding to add staff and further develop its T&E product.
Corporate booking and travel management startups are ten a penny right now. But SalesTrip has a distinct point of differentiation. Launching in February 2019, the startup claims to be the first native booking and expense offering built within Salesforce, the huge customer relationship management platform with 150,000 customers of its own.
BCD Travel today is opening a marketplace of authorized third-party technology and service providers that will help corporate clients discover and more quickly implement solutions into their programs, the travel management company announced Tuesday.
Business travel managers are focusing on the wrong triggers. Let's stop hovering a stick over our employees. When provided the right motivation in the form of a tangible benefit, employees will willing and enthusiastically exhibit compliant behavior.
Topic: Why Hasn’t The Sharing Economy Disrupted Business Travel? U.S. companies are projected to spend $310 billion on business travel in 2015. Does the sharing economy represent change we should believe in? Can you teach old dogs new tricks? Should you? Or is it—to mix canine metaphors—better to let sleeping dogs lie?