Latest news with #SAPConcur
Reuters
14 hours ago
- Business
- Reuters
Travel tech firm Navan confidentially files to go public in US
June 20 (Reuters) - U.S. corporate travel and expense company Navan on Friday disclosed it had confidentially filed for a U.S. initial public offering, as investor optimism for new listings grow. The terms of the offering were not disclosed. Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival after a couple of fresh flotations received overwhelming investor support. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express (AXP.N), opens new tab and SAP Concur.
Yahoo
14 hours ago
- Business
- Yahoo
Travel tech firm Navan confidentially files to go public in US
(Reuters) -U.S. corporate travel and expense company Navan on Friday disclosed it had confidentially filed for a U.S. initial public offering, as investor optimism for new listings grow. The terms of the offering were not disclosed. Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival after a couple of fresh flotations received overwhelming investor support. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express and SAP Concur. Sign in to access your portfolio
Al Bawaba
4 days ago
- Business
- Al Bawaba
Perfecting AI: 5 Strategies for IT Implementation Success
As businesses accelerate their adoption of artificial intelligence (AI), strategic implementation has become critical to realising its full potential. The BCG AI Radar 2025 survey reveals a significant trend: one in three companies globally plans to invest over $25 million in AI technologies this momentum is echoed in the latest SAP Concur CFO Insights survey, which found that 58% of finance leaders—particularly those overseeing travel and expense (T&E) functions—intend to invest in AI in 2025, underscoring the need for skilled and deliberate are five steps for IT teams to ensure successful AI deployment:1. Set Clear Objectives from the StartSuccessful AI implementation begins with purposeful planning. Rushing to adopt the latest technology without a clear plan often leads to wasted resources and unmet leaders should collaborate across departments to define compelling business cases for each AI initiative. Aligning these projects with organisational goals, forecasting future developments, and identifying specific use cases ensures that selected tools serve real business key performance indicators (KPIs)—such as accuracy gains, cost reductions, or time savings—helps quantify success. The right AI solution should support existing strategies, comply with regulatory requirements, and integrate securely within current systems.2. Adopt a Phased Implementation ApproachA phased, structured rollout reduces risk and improves outcomes. The early stages of AI deployment can be complex, so taking a measured approach allows for technical stability and employee with a focused pilot project in a high-impact area—such as audit or compliance—before scaling up. This allows teams to gather feedback, refine processes, and build internal adoption helps avoid the pitfalls of hasty, organisation-wide deployments and ensures that employees have the time and support to adjust to new AI-enhanced workflows.3. Centralise and Optimise Data ResourcesAI thrives on quality data. Disconnected systems and fragmented data silos can severely limit the effectiveness of even the most advanced lay a strong foundation, IT teams should implement comprehensive data integration tactics. Whether through data lakes, warehouses, or virtualisation layers, creating unified data environments enables accurate insights and reliable centralising data requires effort, the payoff is significant. Consolidating sources, eliminating redundancies, and applying appropriate access controls create ideal conditions for scalable AI success.4. Support and Upskill EmployeesEven as AI adoption accelerates, employee concerns persist. Deloitte research shows that 28% of workers worry that technology may replace their transparent communication is essential. Involve employees from the outset and position AI as a tool that enhances—not replaces—their work. This builds trust and helps ease also presents opportunities for upskilling and professional growth. Organisations should invest in training and empower internal champions to model adoption and share practical benefits across teams.5. Lead Through Cross-Functional CollaborationAI transformation cannot be confined to the IT department. According to SAP Concur research, 37% of senior decision-makers believe AI-powered T&E solutions could ease pressure on IT support is key. The SAP Concur 2025 CFO Insights reveals that 54% of IT leaders want to partner more closely with finance teams on digital implementations must support broader organisational goals. By building collaborative frameworks with finance, sales, operations, and beyond, IT leaders can ensure alignment, accelerate adoption, and maximise the return on AI investment. With thoughtful planning, robust data foundations, and cross-functional leadership, IT teams can drive transformative AI adoption—unlocking efficiencies, strengthening decision-making, and delivering long-term business value.
Skift
05-06-2025
- Business
- Skift
Travel Managers Are Fed Up With Their Corporate Booking Tools
Corporate travel managers are done making excuses for legacy booking tools. With low adoption, clunky interfaces, and limited inventory still plaguing the user experience, companies are moving fast to rethink their tech stack. Many travel managers are disenchanted with their corporate booking tools. A recent Global Business Travel Association of Survey of U.S. and Canada-based corporate travel managers found: 57% reported friction with online booking experiences for unprofiled guest travel [contractors, job candidates etc.]. 50% cite issues with meeting and event travel. 64% of buyers said managing exchanges and cancellations is a pain point. 54% said their tools struggled with unused tickets. 46% cited limited access to New Distribution Capability (NDC) fares. Business travelers are definitely feeling that frustration, as well. The survey also found that 81% of travel managers responded that hotel bookings made outside the corporate booking tool grew or stayed the same, and 67% of air bookings did likewise. SAP Concur, Navan, CTM, Egencia, Cytric, GetThere, TravelPerk, and MyCWT are among the bigger corporate booking tools in the market. What Business Travelers Want One global travel manager, speaking on condition of anonymity, told Skift that the company's current booking tool, SAP Concur, feels slow, outdated, and doesn't provide the modern user experience travelers expect. Employees bypass them because the experience is clunky, the inventory is poor, and "they just feel old," the travel manager said. The company's employees, want the types of features they see on supplier sites, including a more fluid search experience with better visuals, and the ability to earn loyalty perks. She is not alone. Sushant Saini, another global travel manager, confirmed that even when these platforms are perceived as user-friendly, they still have critical issues. In his previous role as corporate travel & expense manager at a global financial services firm,Saini said the most common complaint was the limited inventory available on corporate booking tools compared to airline and hotel websites. 'We often had to manually process bookings through our in-house team using GDS because the OBT (Online Booking Tool) didn't show real-time availability,' he said. SAP Concur and Navan's Take SAP Concur, in a statement, acknowledged the weaknesses of legacy systems. However, the company emphasized that it's actively addressing these issues by migrating users to the replatformed Concur Travel. 'Today we can confidently say new Concur Travel provides the broadest, most expansive travel content available in the industry,' said Chris Juneau, head of product marketing at SAP Concur. 'We've expanded NDC content to over 10 global carriers and support major low-cost carriers worldwide, giving travelers more options and coverage across 70 countries.' Juneau said Concur Travel has direct integrations American Express GBT, BCD, CWT RoomIt, FCTG, and HRS, delivering policy compliant hotels. The company noted that customers still experiencing issues are likely those who haven't yet migrated to the new platform. Navan, meanwhile, is positioning itself as a full-stack alternative for companies fed up with fragmented, outdated tools. Rich Liu, CEO of Navan Travel, said the company is hearing from clients who are frustrated with low adoption, poor user experience, and the limitations of legacy platforms. In response, Navan has built a single platform that combines travel, payments, and expenses, designed around automation and employee-first usability, he said Rather than layering features onto legacy infrastructure, the company has focused on rethinking the entire workflow to reduce friction and improve visibility for both travelers and administrators. Liu also emphasized that simply upgrading tools isn't enough. He pointed out that real transformation happens when smarter platforms can be matched with clearer travel policies and better oversight across the organization.
Techday NZ
05-06-2025
- Business
- Techday NZ
SAP Concur unveils AI-powered travel solution for ANZ markets
SAP Concur has introduced its updated Concur Travel solution for the Australian and New Zealand markets, incorporating automation and artificial intelligence tools to streamline corporate travel management. The latest version of Concur Travel incorporates the AI-powered Request Assistant for automatic cost estimates before trips are booked. SAP's generative AI assistant, Joule, is expected to be integrated in the future, offering predictive cost estimates, dynamic itinerary management, and intelligent meeting location suggestions. With this planned integration, Joule will use historical employee data and live information to provide business trip estimates, aiming to create a planning environment that supports long-term corporate needs. SAP Concur says these developments are designed to help organisations plan more proactively, reduce operational overheads, improve the accuracy of travel arrangements, and bolster employee satisfaction. Jonathan Beeby, Managing Director, SAP Concur Australia and New Zealand, said, "Businesses need more streamlined, intelligent ways to manage employee travel. The new Concur Travel experience answers this demand by consolidating travel bookings, policy compliance, and sustainability insights into a connected, mobile-first solution. This culminates in a full picture of organisational travel while empowering employees to book and manage business trips with ease." The redesigned user interface is now available across both mobile and desktop platforms, and features updated content, improved visuals, and increased emphasis on sustainability data. Travellers can more easily access carbon emission statistics and choose eco-friendly travel options, aligning with business objectives and personal preferences. Enhanced search capabilities allow users to find trips by airport, city, or company location, supporting greater efficiency in travel planning. Discussing the integration of travel and expense data, Beeby stated, "The real power of the solution is in the convergence of travel and expense data. Using new Concur Travel with Concur Expense gives organisations a consolidated view of all spending activity for real-time decision-making. Travel bookings automatically populate expense reports, minimising manual data entry and errors, while integrated policy enforcement tools embed compliance into every stage of the employee journey. This approach strengthens financial oversight and expedites employee reimbursements, driving better outcomes across finance and HR functions." SAP Concur's enhancements also focus on the user experience. Features such as integration with Microsoft Teams for travel collaboration, one-way flex fare options to allow more flexibility in booking, and new timeline views have been implemented. The goal is to reduce complexity, foster higher engagement, improve compliance rates, and minimise incidents where employees book outside approved channels. The solution aims to address the current challenges faced by businesses attempting to balance cost control and regulatory compliance with employee needs for flexibility and convenience. SAP Concur notes that disconnected or fragmented systems can lead to inefficiencies, lack of visibility over travel data, and greater compliance risks. The company describes its ecosystem as one where travel bookings and compliance monitoring operate within a unified environment, allowing businesses to improve efficiency and responsiveness without requiring users to change their existing login credentials, URLs, or mobile applications during the transition. Beeby added, "The new Concur Travel solution gives ANZ businesses a critical opportunity to modernise their travel strategies with localised support for one-way faring, updated policy enforcement by trip leg, and enhanced sustainable travel options. Organisations can streamline operations, empower employees, and drive better business outcomes by embracing an integrated, data-driven approach to travel management. SAP Concur is committed to equipping its customers to lead the way as corporate travel continues to evolve."
