Center saw a solution in the continuous rise of business travel.
A financial solution, that is. From flights to hotel stays, there are various expenses that go into business travel, and it can be hard for travel and finance managers to track it all.
Center aims to change that with its newest solution, Insights for Travel. The newest addition to the company’s platform, Insights for Travel provides a complete view of travel spending, making it possible to perform a variety of tasks, from analyzing spending behaviors to identifying company policy violations.
The release of Insights for Travel coincides with Center’s recent integration of travel management into its core expense platform, which is an area of expense management that is historically difficult for companies to manage.
“Customers point to a lack of control and visibility, cumbersome processes, limited inventory and high cost of ownership as pain points of current managed travel offerings,” CEO and Co-Founder Naveen Singh explained in a statement. “We’re addressing that with an all-in-one travel and expense solution that streamlines the booking and expensing experience for employees and enables complete visibility and control for finance teams.”
Insights for Travel was released during a critical time. With the rate of business travel slated to surpass pre-pandemic levels by the end of this year, as reported by the World Travel & Tourism Council, more companies will need an effective way to manage travel spending.
Given this influence, Built In Seattle learned more about Center’s new product and how it will impact the business travel landscape.
What Center does: Center’s expense management platform, coupled with its corporate card, enables companies to manage and better understand business travel expenses, providing a comprehensive overview of all spending in one central location. The platform is designed to be easily accessible for both business travelers and their employers, offering greater visibility into spending habits.
What the Insights for Travel Feature Can Be Used For
- Understanding departmental spending
- Analyzing booking behaviors to identify trends
- Tracking vendor performance and spending trends
- Ensuring policy adherence
- Tracking project-specific spending
The future of business travel: Insights for Travel was made to shape the future of business travel, giving companies greater control over travel-related expenses as more employees hit the airways and roads to connect with clients and each other. Elaborating upon the impact of the solution, Center’s CEO said in an online statement, “By unlocking holistic visibility into all spend, we’re enabling businesses to make more informed decisions, optimize travel spending and ensure compliance with travel and expense policies.”
