CATEGORY

Corporate Travel

Corporate Travel consists ofsub-categories such as Airlines, Hotels, Car rentals, Travel Management Companies and Online Booking Tools

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    Corporate Travel Suppliers


    Corporate Travel Supplier

    Find the right-fit corporate travel supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    ACCENTURE PUBLIC LIMITED COMPANY
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    58

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    90
    Social
    42
    Governance
    67
    6 Domains Performance (/100)
    Business behaviour
    58
    Human rights
    55
    Community Environment
    54
    Corporate governance
    72
    Human resources
    29
    Security Scorecard
    97

    Threat indicators
    A
    95
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    100
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    A
    98
    Application Security
    Detecting common website application vulnerbilities
    A
    94
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    99
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    accenture.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    9
    Human Rights Issues
    0
    Production Supply Chain Issues
    3
    Environmental Non Compliance Flags
    12
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    5
    Fraud Issues
    2
    Labor Health Safety Flags
    6
    Regulatory Issues
    3
    Workforce Disputes
    1
    Sanctions
    0
    esg energy transition
    80
    Discrimination Workforce Rights Issues
    5
    esg controversies critical severity
    No

    Corporate Travel market report transcript


    Global Corporate Travel Industry Outlook

    • The world corporate travel market was around $1.3 trillion in 2017, and is expected to grow between 4.7 percent and 5 percent CAGR to reach approx. $1.5–1.79 trillion by 2023.
    •  Chinese economy witnessed a recent slowdown, but is expected to remain the largest business travel market, with a sustained high growth rate
    • The US corporate travel market was impacted by the Presidential election, due to the uncertainties of economic policies, thus affecting the US business new deals and investments

    corporate-travel-market-size

    Global Corporate Supply Market Outlook

    Airlines

    Travel market research shows that growth is expected to soften within the industry, due to increasing risks and the oil prices recording an increase compared to 2017.

    Hotels

    The major drivers are sustainability initiatives and the adoption of technology.

    Car Rentals

    The industry is trying to reduce its dependence on the airline market. 

    TMCs

    Traveler security and improved spend visibility are the major drivers for TMCs as per latest travel business intelligence.

    Global Corporate Travel Market Maturity

    • End-to-end travel management, better access to travel spend, thus increasing visibility, and innovations, such as Uberization, are the factors that contribute to high levels of buyer maturity in North America and Europe
    • Increasing adoption of smartphone and penetration of the internet have resulted in mobile technology as one of the most impactful trends, demanding attention from travel managers

    Global Corporate Travel Industry Trends

    • Sharing economy has had a major impact on the leisure travel segment but has begun to penetrate, especially in the ground transportation area of corporate travel
    • Ancillary revenue is expected to increase for the airlines, as even the full-service careers have started to experiment with unbundling of their services

    Global Corporate Travel Market: Drivers and Constraints

    • The major drivers of corporate travel are geographical diversity of businesses and expansion of businesses into emerging economies
    • Travel requirements are mostly considered by corporates to be additional costs incurred rather than as an investment, which results in this spend area being the first target during any cost-cutting initiative

    Drivers

    Geographical diversity 

    • Global organizations are protected from the local market's uncertainty by having diverse businesses across the world
    • MNCs have been increasingly expanding their business to emerging economies

    Adoption of travel technology 

    • Increased use of TMS helps TMCs to manage their travel bookings. It allows travel bookers more functionality than the traditional way of booking
    • Adoption of the blockchain technology by Hotels for capturing traveler profiles and also managing loyalty programs
    • Increased integration of added features with TMS, such as virtual payment solutions like e-wallets to keep all expenses in one place, and booking multi-channel transportation from one place drive TMCs to reach more travelers than ever before

    Growth of sharing economy 

    • The growth of shared economy concepts in the accommodation and ground transport markets have increased with the adoption of Airbnb and Uber like services.

    Constraints

    Virtual and hybrid meetings 

    • Increased use of virtual and hybrid technology encourages digital interactions, such as online meetings and conferences, instead of travel

    Economic uncertainty  

    • Despite low oil prices, factors such as a strong US dollar, high market volatility and increasing travel prices, encourage organizations to resort to cost-cutting measures

    Internal travel requirement restriction

    • Companies are trying to cut down travel frequency by placing stringent travel approval protocols for their internal (non-buyer facing) purposes

    Cost Structure Analysis: Spend Categorization 

    Airlines

    • Spend percentage: 45–50 percent
    • Spend mix: Both low-cost and full-service carriers are used. The former constitutes a lower volume of spend, typically less than a quarter of an organization’s spend on airlines.
    • Discount threshold: Spend with the carrier should be at least $1 million
    • Discount percent: 1–20 percent
    • Discount levers: More international spend, higher spend in competitive routes, internal compliance to travel policy

    Hotels

    • Spend percentage: 35–40 percent
    • Spend mix: Both hotel chains and independent hotels are used with a greater volume of spend with the chain hotels. Non-compliance is the highest in hotel bookings
    • Discount threshold: A global spend not less than $0.5 million
    • Discount percent: 10–30 percent
    • Discount levers: The average number of days for each stay, days of the week, usage of ancillary services

    Car Rentals

    • Spend percentage: 17–20 percent
    • Spend mix: Higher spend is in car rentals, followed by taxis, chauffeured transportation and ride sharing companies. Ride sharing is gaining popularity with the business traveler
    • Discount threshold: Spend with the car rental agency should be higher than $50,000
    • Discount levers: More international spend, higher spend in competitive routes, internal compliance to travel policy

    TMC

    • Spend percentage: 3–7 percent
    • Spend mix: A consolidated global TMC is most often the choice because this would help to provide the best visibility on spend