KAYAK for Business Enhances Its Enterprise Solution in Collaboration with Blockskye and PwC US
KAYAK for Business has updated its Enterprise solution in collaboration with Blockskye and PwC US, offering enhanced interoperability and eliminating employee expense reports. The new solution integrates airline APIs for seamless booking and introduces Blockskye Pay, a blockchain-based expense solution. Key benefits include:
1. Streamlined shopping experience for business travelers
2. Real-time tracking of employee travel and spend for companies
3. Incremental revenue opportunities for airlines through modern merchandising
4. Elimination of traditional expense reports
PwC US, KAYAK's first enterprise client, has been involved in developing the solution since 2022. The upgraded system is set to reshape how business travel is booked, serviced, and expenses are managed, providing benefits for travelers, companies, and airlines alike.
- Partnership with Blockskye and PwC US to enhance KAYAK for Business Enterprise solution
- Introduction of Blockskye Pay, a blockchain-based expense solution eliminating employee expense reports
- Integration of airline APIs for seamless booking and increased revenue opportunities
- PwC US adoption of the new technology, with over 75,000 employees having access
- Collaboration with major airlines like American Airlines, Southwest Airlines, and United Airlines
- None.
Insights
The integration of blockchain technology into corporate travel expenses through Blockskye Pay represents a significant leap forward in travel expense management. This move is likely to reduce administrative costs for companies by eliminating the need for traditional expense reports. Automation of expense reporting is not only expected to streamline processes but also enhance transparency and accuracy in financial reporting.
In the short term, companies incorporating this solution might see a reduction in operational costs associated with travel expense processing. In the long term, the ability to track real-time expenses and manage unused ticket values can provide enterprises a clearer picture of their travel spend, aiding in budget forecasting and strategic planning. However, the adoption might come with initial setup costs and a learning curve for users unfamiliar with blockchain technology.
The collaboration with renowned brands like PwC also lends credibility and could potentially draw more enterprise clients to KAYAK for Business, boosting revenue.
The use of blockchain technology by Blockskye Pay is a notable advancement in the business travel sector. Blockchain ensures immutable and secure transaction records, which can significantly mitigate the risk of fraud and enhance data integrity. These characteristics are particularly valuable in corporate environments where financial accuracy and security are paramount.
The elimination of credit card usage for expense management reduces the risks associated with card fraud and misuse. Furthermore, the seamless integration with airline APIs can provide a smoother booking experience, which is important for business travelers who prioritize efficiency and convenience. However, the success of this technological shift will largely depend on user adoption and the robustness of the integrated systems. Potential technical issues or downtime could temporarily disrupt operations, highlighting the need for reliable and scalable infrastructure.
The collaboration between KAYAK, Blockskye and PwC signifies a transformative phase in the corporate travel market. The $1.4 trillion business travel market is laden with inefficiencies due to numerous intermediaries. By introducing a system that reduces the need for these intermediaries and automates processes, KAYAK for Business could potentially capture a significant market share.
The introduction of Blockskye Pay, specifically tailored for corporate travel, addresses a pain point for many businesses—expense management. Companies could see improved compliance with travel policies and better control over travel budgets. For airlines, this partnership is likely to enhance customer loyalty through modern merchandising and seamless API integration, thus opening up new revenue streams.
However, the competitive landscape is dynamic, with other travel management companies also seeking to innovate. The real impact will depend on how swiftly and smoothly these solutions are adopted across the industry.
New solution integrates airline APIs for seamless booking and launches Blockskye Pay to eliminate employee expense reports
Now, KAYAK for Business Enterprise customers will have the flexibility to manage their corporate travel bookings from anywhere - whether on a select airline's website or app, via the KAYAK for Business platform, or with the assistance of a KAYAK agent. The shift toward modern merchandising benefits suppliers by creating new revenue opportunities, while helping companies save on servicing costs and streamlining expense reconciliation. The upgraded solution is reshaping how expenses are managed and business travel is booked and serviced, providing unparalleled benefits for business travelers, companies and airlines.
For the Business Traveler:
- A streamlined shopping experience that mirrors airline websites and reflects airline loyalty status
- Elimination of traditional expense reports for increased efficiency
- Flexibility to manage bookings from any location (e.g. airline site/app, KAYAK for Business or with an agent)
For the Company
- Full access to global content and fares directly from airlines, coupled with the ability to control what is displayed to confirm alignment to company policy and the latest airline offerings
- Holistic TMC servicing and reporting for all bookings, direct or through GDS
- Reduce costs, streamline operations and increase traveler convenience with the shift toward interoperability
- Ability to track employee travel and spend in real-time, closing the time gap between travel bookings made and expenses submitted
For the Airlines
- Incremental revenue opportunities through modern merchandising of fares and ancillaries
- Seamless integration of self-service API tools for enhanced user experience
- Collaboration with leading brands like PwC US to expand business travel solutions
- Frequent Flier sign-ups and status recognition
- Build loyal customer relationships by delivering relevant content and managing interactions effectively
"KAYAK changed the game for how people plan and book travel, and now we're transforming business travel in the same way," said Eva Fouquet, SVP of KAYAK for Business. "By leveraging new technology and innovative solutions, we are reshaping an antiquated industry. This prospect of simplifying business travel is not only thrilling for us internally but also for every client and partner we collaborate with on this journey."
PwC US Adopts New Technology
KAYAK for Business' first enterprise client, PwC US, has been involved with the creation of the solution since it launched in 2022. KAYAK, PwC US, alongside Blockskye, have worked collaboratively to develop the corporate travel solution and facilitate its distribution to a wider client base. More than 75,000 PwC US employees have access to KAYAK for Business Enterprise to plan and book their business travel.
"By combining Blockskye's blockchain technology and payment solution with KAYAK's experience in leisure travel, we are introducing a solution that transforms how businesses handle their travel programs," said Bob Schott, Procurement Leader, PwC US. "With this first-of-its-kind solution, we are enabling a seamless corporate travel experience that sets a new industry standard."
Launch of Blockskye Pay
In partnership with Blockskye, KAYAK for Business is the first and only travel company to integrate a blockchain-based expense solution, Blockskye Pay. Blockskye Pay simplifies corporate travel payments by leveraging blockchain technology to automatically charge expenses to employers, skipping the hassle of employees filing expense reports and managing ticket credits.
Blockskye Pay brings a host of benefits for travelers, airlines, and companies alike; travelers can bid farewell to cumbersome expense reports, airlines gain from streamlined ticketing processes and cost-effective payment solutions and for companies, the new system also automates the management of unused ticket value across profiles.
"Business travel is a
KAYAK for Business works directly with airlines like American Airlines, Southwest Airlines and United Airlines, resulting in best-in-class traveler functionality through more integrated connections to corporations and their travelers.
"At American, we are committed to offer a more convenient shopping experience tailored to our customers' preferences and needs," said Scott Laurence, American Airlines senior vice president of partnerships and retailing. "We're proud to partner with KAYAK for Business and Blockskye to offer this solution to our business customers."
"Partnering with KAYAK for Business and Blockskye to offer a better booking and expense experience to PwC US travelers has been a win for everyone involved," shared Eric Hall, Director of B2B Strategy at Southwest Airlines. "We are looking forward to bringing this solution to more business travel customers looking for streamlined processes and enhanced traveler flexibility."
"At United, we're always exploring innovative ways to improve our customers' experience," said Glenn Hollister VP Strategy & Effectiveness of United Airlines.
"We're excited to partner with KAYAK for Business and Blockskye to enhance the booking and travel experience for our business customers.
This collaboration between KAYAK for Business, Blockskye and PwC US marks a significant milestone in the evolution of travel technology, setting a new standard for efficiency, convenience, and value within the corporate travel industry.
For more information visit https://www.kayak.com/c/enterprise/ and blockskye.com
About KAYAK
KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world's leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car and vacation package. We also support business travelers with our corporate travel solution.
About Blockskye
Blockskye provides payment, expense, and data platforms for next-generation b2b travel and procurement.
About PwC
PwC US offers consulting services to help other enterprises reimagine their travel programs and implement KAYAK and Blockskye's transformative solution.
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SOURCE KAYAK
FAQ
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