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Business Travel Agencies have a strong appetite for technology investment in 2024, with more than nine in ten planning ‘at least’ moderate investment in their businesses over the coming year. Enthusiasm is particularly strong in Latin America, Africa and the Middle East.
Money is being spent in search of new competences, such as the ability to manage ‘blended travel’ trips, as well as to book additional products and offer consulting services on sustainable travel. Business Travel Agencies are seeking to become one-stop-shops, able to meet all the needs of business travelers in a single, digital location.
At the same time, efficiency is a vital driver of investment. Business Travel Agencies are looking to new technologies, such as Generative AI, extended reality and robotics, to be able to deliver an enhanced service, more effectively, with fewer resources. Successful investment in these new technologies will allow Business Travel Agencies to meet distribution priorities, including enhancing the customer experience, improving productivity and driving traffic acquisition.
Looking ahead over the next year, around a third of Business Travel Agencies are seeking to implement new capabilities, including API aggregation, LCC search and book, and robotics. Over the longer-term, conversational search becomes the top priority. With a focus on business travelers, virtual cards offer a great opportunity for innovation, while Business Travel Agencies are also seeking effective integration between technology platforms and solutions which enable improved adherence to travel policies.
When it comes to New Distribution Capability (NDC), results of the study paint a mixed picture. While the vast majority of Business Travel Agencies recognize the importance of the standard and say acting is important to building relationships with airlines and securing content, the data shows that maturity varies across the sector. As the new IATA standards continue to gain traction, more investment may be required in this area on the part of Business Travel Agencies.
Business Travel Agencies are also planning to increase the use of robotics in the near future, with ambitions to automate a further 27% of their processes on average. Effective investment in self-service tools for rebooking could lead to automation of time-consuming ticket exchange and refund calculations, potentially saving Business Travel Agencies money by reducing demands on contact centers or agents.
Finally, sustainability is a top priority for Business Travel Agencies, with plans to reduce the impact of travel on the environment important to the vast majority of respondents when prioritizing technology investments.
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