Latest news with #SteveSingh
Skift
01-08-2025
- Business
- Skift
From Concur to Spotnana: Steve Singh on How AI Could Fix Corporate Travel
Corporate travel is still a nightmare of fragmented systems, which means that rebooking canceled flights can be headache-inducing. Yet Concur co-founder Steve Singh believes new tech could bring the dawn of "the pefect trip." Steve Singh spent two decades building Concur into the dominant travel-and-expense management platform before selling it to SAP for $8.3 billion in 2014. A year ago he became CEO of Spotnana, a startup that aims to solve the industry's lingering problems. The travel technology sector has struggled for years with fragmented systems that force companies to cobble together bookings from multiple sources while maintaining adequate customer service. These back-end issues have delayed the arrival of what Singh called 'The Perfect Trip' in an interview with Skift in 2014. Now Singh argues that today's cloud-native computing and machine learning can solve problems that proved intractable when he first tackled them at Concur more than 40 years ago. 'I haven't been this excited about how tech can improve the corporate travel experience since mobile phones became widespread,' Singh said in an interview at Global Business Travel Association conference in Denver last month. Steve Singh, CEO of Spotnana, seated in white shirt at the company's recent conference. Singh works with key executives like Sarosh Waghmar at Spotnana, Naveen Singh at Center, Dennis Vilovic at Troop, and Christal Bemont at Direct Travel. Source: Spotnana Automating Services Spotnana's approach centers on automating routine travel services like rebookings and refunds. For corporate customers buying the travel, Spotnana will offer business intelligence tools and analytical services to let executives more clearly understand what their employees are spending on travel. 'Instead of a 15% cut across the board, which is indiscriminate, what if an AI agent could say, 'I'll get you the 15% savings by reducing travel spend by 40% for people that are not revenue producing while not reducing it at all for others, thanks to the intel I know on the clients they're visiting and the productivity of those employees on the road,'' Singh said. Singh claimed Spotnana could reduce travel management companies' operational costs by roughly half. The tech vendor said it doesn't accept global distribution system incentives and doesn't hide or bias content to reach supplier volume targets. Singh said Spotnana expects to deploy its AI agent capabilities within the next two to three years. He described plans for 'an AI agent that was trained on, say, your top 10% of your corporate travel agents' that could provide consistent, scalable service while understanding individual traveler preferences and company policies. 'Imagine an AI agent that not only knows me and my corporate policies and my personal preferences, but then it can also be an expert in every city I want to go for work or for leisure,' Singh said. 'That starts to deliver a client experience that is no different than the world's best executive assistant.' Singh said that AI may also help with either predicting and responding in the moments when trips are disrupted by cancellations. Automated reactions are key, he said: 'If my flight is delayed, I shouldn't have to pick up my phone and call somebody to change flights. Why can't there be a recommendation pushed right into my app, saying here are the three options within your company's travel policy, here are the three options outside your policy. Which one would you like?' Frenemies Spotnana, which has disclosed raising over $100 million in funding, faces established competitors with services that overlap. While Spotnana is not a travel management company, its technology and full-content approach are similar to travel management companies like Navan (which has raised over $1.2 billion in funding) and TravelPerk (over $700 million). Yet some industry observers remain skeptical about whether new technology can overcome the travel sector's entrenched interests and complex commercial relationships. The American Airlines' ill-fated effort to change how corporations and travel management companies book business travel suggests the challenges facing any attempt to change distribution. But Singh said cloud computing costs are 'one-tenth' of what they were 15 to 20 years ago. Key corporate travel systems are now cloud-native and use modern APIs, or data exchange methods. More importantly, suppliers, buyers, and travel management companies have greater incentives to change the status quo, he said. Spotnana offers its tech to Direct Travel, a company Singh also backs, and other travel management companies, such as Solutions Travel. It works with corporate buyers via connections with their preferred travel management companies. Yet Spotnana is also a tool for the suppliers themselves. 'We think there's multiple tiers of opportunity with our supplier partners,' Singh said. 'One is the content distribution to travel management companies. But the other is that most of our supplier partners also want us to build other services for them.' Spotnana's effort to be all things to all people could get dicey if travel management companies come to fear it as potentially siphoning off their business by competing on fees and services to woo buyers. Singh said he sees Spotnana's opportunity with suppliers as being in providing services that travel management companies typically don't, such as by giving suppliers deeper insights into their customers. A case in point: Spotnana has partnered with Marriott to power the hotel chain's small business portal, Business Access, handling both content distribution and booking management. 'We're taking advantage of the biggest transformation I've seen in travel since we moved from paper based tickets to digital,' Singh said. What am I looking at? The performance of travel tech stocks within the ST 200. The index includes companies publicly traded across global markets including both online travel booking companies and B2B travel tech companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more travel tech financial sector performance. Read the full methodology behind the Skift Travel 200.
Travel Weekly
23-06-2025
- Business
- Travel Weekly
Direct Travel
2024 sales: $4.4 billion Previous ranking: 13 Employees: 1,800 full-time, 99 part-time 7430 E. Caley Ave., Suite 320E Centennial, CO 80111 Phone: (800) 223-1632 Website $4.4 billion131,800 full-time, 99 part-time7430 E. Caley Ave., Suite 320ECentennial, CO 80111Phone: (800) 223-1632 Executives CEO: Christal Bemont CFO: John Coffman CIO: Scott Schwisow CHIEF SALES OFFICER: Todd Pelletier CHIEF PRODUCT OFFICER: Sarah Kuberry Martino CHIEF MARKETING OFFICER: Allison Breeding PRESIDENT, CREATIVE GROUP: Janet Traphagen PRESIDENT, LEISURE TRAVEL: Gerard Bellino COMPANY FACTS * Privately held. * Sells directly to consumers for business travel, meetings and incentives, group travel and leisure vacations. * Durable Capital Partners, Madrona Ventures, Top Tier Capital Partners and Blackstone Credit & Insurance are major shareholders. * Owns Creative Group, a performance-management company specializing in meetings and events logistics, strategic meetings management and employee-recognition solutions. * Works with 687 independent contractors. * Sales: 75% business, 17% leisure, 8% meetings and events. * A member of Virtuoso. DEVELOPMENTS * Was acquired by Steve Singh (venture capitalist, founder of Concur and managing director of Madrona Ventures) and other investors. Singh became executive chairman, and several other members of the leadership team were added. * Partnered with technology providers Spotnana (a travel-as-a-service platform), Center (a card-first expense management solution) and Troop (a group meetings and events platform) to introduce Avenir, an integrated technology stack. * Invested in proprietary technology to bolster the user experience and client services, making that technology available as a service to other agencies. LOOKING AHEAD * Investing in data and analytics to provide customers real-time insights to optimize their programs. * Rolling out Avenir globally. * Establishing the role of sustainability director to lead its ESG and social impact strategy; propel initiatives such as carbon dioxide measurement and reduction; and advance the company's diversity, equity and inclusion efforts. * Through investments in AI and predictive modeling, the company is developing intuitive support that anticipates traveler needs and streamlines issue resolution while continuing to deliver high-touch, expert care from agents. * Focusing on empowering travel managers to become what it calls "strategic value creators," delivering personalized care at scale.
