The latest figures anticipate T&E spending to recover its 2019 height of $1.4 trillion sometime in 2024 and reach $1.8 trillion in 2027.
Mastercard announced T&E Consulting Services – a new suite of services to help corporates align their T&E programs with industry best practices and business objectives around risk, compliance, cost and sustainability.
This latest offering includes five unique services tailored to meet T&E managers pressing needs, as identified by Mastercard’s latest research. The services include:
- Policy & Procedures Review: Evaluates corporate travel and expense management program to help achieve policy compliance and travel spend objectives.
- T&E Program Optimization: Identifies opportunities to enhance policy compliance, improve the traveler experience, optimize card programs and achieve cost savings.
- Sustainability Optimization: Reviews the environmental impact of corporate travel programs and identifies how to best achieve business sustainability goals through program refinements.
- Supplier Performance Assessment: Assesses the quality of corporate travel suppliers to identify best-in-class supplier programs that achieve cost effectiveness, enhance policy compliance and improve traveler satisfaction.
- T&E Program Implementation: Accelerates the implementation and adoption of an organization’s T&E solutions through program management and subject matter experts.
When 86% of travel decision-makers in Mastercard’s survey agree that the new hybrid work environment has made managing travel and expenses more challenging, and 89% report that having more dynamic T&E policies is critical for navigating the future of business travel, it’s evident that re-imagining traditional T&E programs has been brought to the forefront. The new Mastercard T&E Consulting Services are designed to do just that by supporting corporations in building a modern T&E program that keeps up with the changing needs of business travel.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
