American Express Launches New Online Travel Site for Businesses - InformationWeek
IoT
IoT
News
News
11/14/2006
01:53 PM
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%
RELATED EVENTS
[Dark Reading Crash Course] Finding & Fixing Application Security Vulnerabilitie
Sep 14, 2017
Hear from a top applications security expert as he discusses key practices for scanning and securi ...Read More>>

American Express Launches New Online Travel Site for Businesses

The company's Intelligent Online Marketplace aims to aggregate inventory from over 135,000 suppliers to give business travelers a single destination to purchase and manage all transportation needs.

Moving to expand its online travel offerings, American Express Business Travel plans on Wednesday to launch a new online market for business travel services.

The company's Intelligent Online Marketplace aims to aggregate inventory from over 135,000 suppliers to give business travelers a single destination to purchase and manage flights, ground transportation, and hotel rooms, as well as ancillary travel expenses such as shipping, dining, and event tickets that tend not to be managed by corporate travel systems.

American Express claims that 49% of all travel and entertainment costs are unmanaged and that businesses pay up to a 20% premium for purchases made outside of preferred providers.

Travel and entertainment is probably the third largest expense at large companies after salaries and benefits, yet it's poorly managed, says Priyan Fernando, executive VP and chief operating officer of global business travel at American Express. "This is about bringing simplicity, convenience, and peace of mind ... into one online marketplace."

American Express's new online marketplace is powered by Rearden Commerce, an online services company. Rearden, in turn, is powered in part by American Express, which has taken a minority stake in the company and plans to name one of its executives to Rearden's board of directors.

Beyond giving managers more visibility into travel expenses and saving money, American Express wants to give employees more time through a better online purchase experience. Over 40% of employees spend more time coordinating business services today than they did five years go, a process that requires visits to four different Web sites on average, according to a study conducted by Lieberman Research Worldwide and commissioned by Rearden Commerce.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll