9 predictions for the business travel industry in a post-coronavirus world
The SARS-CoV-2 pandemic caused a gigantic crisis in the business travel industry. The ban on air traffic between the European Union and the United States, cancellation and rescheduling of virtually all events and conferences, restrictions and difficulties in traveling in countries around the world have caused almost complete suspension of business trips.
This is a huge threat, but for some also a chance to better prepare for the future.
– says Filip Błoch, the CEO and co-founder of Hotailors
This obviously causes enormous losses to the entire industry, including Hotailors, and is a threat to it. However, for many companies it’s also a great time to optimize business.
This is the best time to think about introducing innovation in corporations to better prepare for operating in a difficult market environment.
– says Filip Błoch
Hotailors uses this time to improve the product and make the best use of the SAP development program.
Our goal is to work on integration with SAP solutions and to be among the applications offered by this company. We have three months of hard work ahead of us. But in the American market we can achieve goals that would normally take us years.
– emphasizes Filip Błoch
What the business travel industry will look like after coronavirus ends?
The crisis will force companies to make savings. However, excessive cuts could erode their market position. Therefore, it will be crucial to find not only savings but also a way to manage costs easily and flexibly.
Increased role of contingent workforce
Today’s trend of hiring professionals on a contract basis rather than offering full-time jobs will intensify. This is because it gives companies much greater flexibility in setting cost levels on an ongoing basis. These employees, just like full-time ones, will travel but companies will need other tools than the existing ones to manage their trips efficiently.
Surprisingly, until now business travel management in many companies was carried out without the use of modern technologies. In order to reasonably optimize costs and efficiently manage a large number of external employees, companies will need to go through a digital transformation process and reach for proven digital solutions.
The crisis has shown the weakness of many companies – the inability to quickly react to changes and the lack of accurate knowledge of where and how to optimize costs. Enterprises will be looking for tools that give access to information on a regular basis.
Increasing the number and role of external employees will force one more change – the need to enable them to make reservations on their own, but within the framework of company travel policies.
Focus on travel safety
This applies especially to contractors. Organizations will need to cover them in their travel policies and have the knowledge of the risk factors in the countries of destination. They will also require the possibility of locating employees and full support for travel services.
The possibility of immediate cancellation or change of reservation and insurance will play a major role.
The growing awareness of travelers will force companies to engage in pro-environmental activities to balance their carbon footprint.
Many professionals will lose their jobs during the crisis. Travel in search of employment (or in search of suitable new workers) will become more important after the crisis.
Threats and opportunities
The current situation is extremely difficult, but our solution has a great chance to get into the market because we bring together all the necessary elements of business travel in one place. It will be crucial for many companies in times of current and future chaos. Similarly, the digitisation of work will be crucial.
– emphasises Filip Błoch
The dates of events and conferences are expected to be postponed to the second half of 2020 and early 2021. Therefore, there will be an accumulation of air and hotel bookings. You will need tools to make the booking process as short as possible. Facilitating this process and doing everything in one application will be vital.
We are now in the best possible place to come up with solutions for the business travel industry for the time of the pandemic, but also for the time after the crisis. This crisis will change the world and we will be ready for the change thanks to our cooperation with SAP.iO Foundry.
– adds the CEO of Hotailors/