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Generative AI in Travel and Expense Management: Potential Opportunities for Trip Management and Cost Savings

Publisher IDC
Published Jun 21, 2024
Length 5 Pages
SKU # IDC18912511

Description

Generative AI in Travel and Expense Management: Potential Opportunities for Trip Management and Cost Savings


This IDC Perspective discusses the transformation possible in the travel and expense management solution market through the implementation of generative AI technology. The current approach to travel and expense management results in companies facing challenges around auditing, trip management, and reporting/analytics. With features optimized via generative AI, solution providers are exploring ways to improve the user experience and drive improved insights, increased efficiency, and more cost savings for users.“The possibilities for improvements enabled by generative AI are endless within travel and expense management,” says Jordan Steele, research manager, Worldwide Financial Applications Support at IDC. “Providers can expect users to demand analytics that provide actionable insights; more automation in their expense generation, approval, and reimbursement workflows; and an overall improvement to the user experience. All of these and more are possible with responsible and intentional implementation of generative AI.”

Please Note: Extended description available upon request.

Table of Contents

5 Pages
Executive Snapshot
Situation Overview
Introduction
Industry Dynamics and Challenges
Auditing
Trip Management
Reporting and Analytics
Benefits of Generative AI Within Travel and Expense Management
Expense Management Automation
Reporting and Analytics
User Experience Improvement
Use Cases
Brex
Coupa
SAP Concur
Future Outlook
Advice for the Technology Buyer
Learn More
Related Research
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