The first phase of a new corporate travel service LateRooms.com for Business has emerged.
The tool is free for businesses to use and will extend the brand’s current corporate offering into a fully integrated online solution.
Launching fully later this year, the new tool aims to bridge the gap between online travel agents and travel management companies to support the bespoke accommodation booking needs of corporate clients.
A set of first phase developments, released in advance of the tool’s full rollout, offers the latest functionality to both current and new customers.
The service claims to work differently to TMCs by being free to use, cutting out the average booking fee of £10 and 15% commission usually applied.
On this basis, a corporate client could save £28 per booking on an average reservation value of £120, when using the tool.
For a business spending £1 million a year on accommodation, that equates to an annual saving of more than £233,300.
New features available as part of the first phase launch include a solution which uses an automated tool to support corporate clients in claiming VAT expenses for hotel stays. The tool could save large businesses up to £20,000 a year on time spent internally in VAT reconciliation processes, the company claims.
A newly introduced My Account area provides users with a reporting suite that streamlines the way businesses manage their staff travel requirements.
Users can make bookings online, take advantage of dedicated corporate rates, save pre-selected filters that allow time saving and cost management, and keep track of activity through a travel booking summary section.
Bill back functionality also allows users to set up a credit account for hotel stays, to be billed at the end of each month.
A range of additional benefits are also available for corporate clients when travelling for business, such as discounts on parking and taxis through partnerships with businesses including NCP and CabFind.com.
The full solution due to launch in the autumn will introduce sophisticated data analysis tools to help administrators when reporting and managing travel budgets and spend. Management information data and a new client rewards system will also be included.
Greg Mannix, head of corporate at LateRooms.com, said: “We’re set to completely raise the bar when it comes to corporate travel management with the launch of LateRooms.com for Business.
“After building up years of expertise in the corporate travel industry, we know exactly what these customers are looking for.
“We’re very pleased to be able to provide the next evolution in our service to meet those expectations, streamline the corporate booking experience, and provide very significant cost savings for our clients too.
“This first stage of improvements will pave the way for the full service launching later this year.”