Data reveals a rise in air travel volume
As business travel bookings in Europe grow at a faster rate than the global average and prove more expensive, software company SAP Concur has its sights set on rolling out new AI-powered features.
Showcased at the GBTA + VDR Europe Conference in Hamburg, the features have been designed to shape efficient, compliant and consumer-grade business travel experiences to help companies balance cost and travel requirements.
SAP Concur data reveals a 4.4% rise in European air travel volume and a 4.6% increase in average airfares compared to the previous year.
Rising costs are making it challenging for organisations to fund business travel, despite its huge strategic importance. The data also reveals a persistent gap between business travel needs and available budgets, even as leaders plan to increase investment.
In fact, the latest SAP Concur Global Business Travel Survey reveals 69% of travel managers agree that their company’s travel budget doesn’t reflect how important business travel is to its success.
At the same time, 81% of CFOs agree that budget limitations at their company mean employees are unable to travel as much as needed to effectively perform their jobs. At this critical moment, businesses must practice even more efficient spend management to stretch travel budgets further.
AI is shifting from tools that respond to prompts to assistants that anticipate needs and drive outcomes – also known as agentic AI.
SAP’s copilot Joule, also available within Concur Travel & Expense, is now infused with AI agents able to independently execute tasks while automating complex processes for users.
