July 25^th concluded the 47^th Annual Global Business Travel Association (GBTA) Convention and Expo in Orlando, Florida. Over 6,500 corporate travel buyers, travel managers, travel suppliers, and technology providers from around the globe descended on Orlando for five full days of education, networking, and ultimately sharing experiences and new ideas.

Several of Covington’s Business Travel Sales and Services team members attended the 2015 GBTA Convention to glean leading trends, technologies and concepts of the ever-changing travel industry. The GBTA Convention is the premier event in business travel and our participation helps us to stay at the forefront of the ideas that shape all aspects of business travel and ultimately affect our corporate customers and their valued travelers.

“Sharing” was the theme woven throughout the GBTA Convention, in both a conceptual and a literal aspect. With over 80 educational sessions, including panel discussions led and hosted by travel industry leaders, attendees were exposed to diverse subject matter. Some popular themes included Travel Risk Management, Sustainability, the Millennial Effect Controversy, and Global Expedited Passenger Screening, in addition to the following hot topics:

The Sharing Economy

A trending but controversial subject centered on embracing the new Sharing Economy. With the continued development and success of unconventional hybrids like Uber and Airbnb, the travel industry has acknowledged the desires of a new generation of travelers who require on-demand options and control over choices. These “shared” alternatives satisfy travelers’ environmental and consumption consciousness on a personal level, although their feasibility and practicality are being challenged by the majority of corporations wishing to maintain a managed travel program. Global Travel Managers have concerns relating to accurate data and expense reconciliation, duty of care responsibilities, and preferred supplier adherence. The debate continues as these forward-thinking suppliers strive to improve the traveler experience, but to also gain the trust of Travel Administrators.

Virtual Card Payments

A leading subject of great interest at the 2015 GBTA Convention was evident in a session titled “Beyond the Trend:  Why Virtual Card Payments are Hot in Business Travel.”  Several leading payment providers and financial institutions were represented in a discussion of how virtual cards have helped solve some of the biggest pain points:  fraud, policy compliance, hotel direct billing, and statement reconciliation. This has been an area of need that is finally coming to fruition and Covington has the tools in place to implement a virtual card program for our corporate clients immediately. For more information, email Covington Business Travel Services.

Concur TripIt Enhancement

The travel and expense technology provider Concur announced an enhancement during the convention that allows Covington travelers who use the itinerary-management tool Concur’s TripIt and TripIt Pro (get a Covington discount) to now call Covington with one click from the TripIt mobile app. The app displays Covington’s contact details associated with the booking, making it easier for travelers to contact their trusted advisor to make itinerary changes during disruptions. The functionality is free and requires no additional download, although normal airline and service fees apply to any itinerary changes.

GBTA Convention Keynote Speakers

On the lighter side, this year’s key note speakers included representation from the entertainment, technology, and media industries.

Kevin Bacon – Golden Globe winning actor, producer, director and musician. He comically related the “Six Degrees of Separation” concept to GBTA’s Sharing theme by emphasizing that we are all connected and our actions ultimately make more of a difference than we are aware. Bacon launched www.SixDegrees.org, a web site that builds on the popularity of the “small world phenomenon” concept to create a charitable social network and support charities online.

Steve Wozniak – Co-creator of Apple Computer, Inc., in conjunction with Steve Jobs. Wozniak illustrated how personal and mobile devices have contributed to the success of social media and have propelled networking and sharing of experiences to global accessibility.

Megyn Kelly – Anchor of Fox News Channel’s The Kelly File and one of Time Magazine’s 100 Most Influential People in the World. She was a timely contributor, as she will be one of the moderators for the August 6, 2015 GOP Presidential Debate. She emphasized the importance of “being real” and how this philosophy played a major role in her broadcasting success. Kelly also reflected on the difficulties we all have in staying honest and true to our beliefs within our business and personal relationships.

By attending premier industry exhibitions like the GBTA Convention, we stay on top of the latest developments in managing corporate travel so we can share them with our clients. Contact Covington’s Business Travel Sales and Services team members for assistance with any aspect of business travel management.

Contributed by Candee Harris