Navan
Navan is the one-stop shop for business travel. Companies and their employees book flights, hotels, and more while saving time and money.
Product Feature Introduction
Navan Platform Overview
Leading Corporate Travel and Expense Management
Navan is a leading corporate travel and expense management platform trusted by thousands of companies. It offers an all-in-one solution that simplifies and streamlines various aspects of corporate travel and expense management.
Platform Features
Navan Travel
Simplifies corporate travel management. The intuitive platform enables employees to book from a vast inventory while adhering to the company's spending limits. This gives employees the freedom to arrange travel for business purposes like team offsites or client-related meetings while ensuring cost control.
Navan Expense
Streamlines expense management from the moment of a transaction to reconciliation. It automates categorization, report generation, and reimbursements. AI-powered insights help boost productivity and optimize savings. For example, it can analyze spending patterns to identify areas where cost-cutting is possible.
Navan Connect
Allows users to link existing Visa, Mastercard, or Amex cards. This integration comes with built-in approval flows and automatic transaction reconciliation, all while retaining the benefits and rewards of the original card program.
User-Specific Benefits
Road Warriors
- Can book and manage travel in one place, which is convenient for frequent travelers.
- Earn points from their favorite loyalty clubs, adding an incentive for choosing certain travel providers.
- Receive Navan Rewards for personal trips and no longer need to file expense reports, saving time and effort.
Travel Managers
- Can invite employees and guests to book their own travel, promoting self-service.
- Set spend guardrails to ensure that everyone stays within the company's travel policy, protecting the budget.
- Enhance duty of care by knowing the whereabouts of travelers, which is crucial for safety and emergency management.
- Make travel changes either on the Navan platform or with the help of 24/7 travel support agents.
Finance & Accounting
- Automatically categorize and reconcile every expense, reducing manual work and potential errors.
- Gain full real-time visibility into every expense, enabling better financial monitoring.
- Integrate key expense data with the company's ERP (Enterprise Resource Planning) system in seconds, facilitating seamless financial management.
- Automatically flag out-of-policy transactions, ensuring compliance.
Executive Assistants
- Can book the perfect trip for their executives as their favorites are shown first.
- Automate itinerary emails, calendar syncing, and loyalty accumulation, which streamlines administrative tasks.
- Easily change travel arrangements independently or get 24/7 expert help.
- Earn Navan Rewards for their personal travel.
Cost-Saving Opportunities
Lodging Collection Rates
Navan offers special rates within a large travel inventory that includes top suppliers. This provides more options and better deals for companies. For example, hotels like Hotel Adagio and Coastal Lodge are available at competitive prices.
Spend Guardrails
Custom policies allow employees to book and spend according to business needs while safeguarding the company budget. Employees can earn rewards when they book travel below a certain cost threshold, such as booking below $370.
Navan Rewards
Employees are rewarded when they book travel below budget, and this incurs no cost to the company. This encourages cost-conscious decision-making among employees.
Key Impact
~15% Savings
Achieved via inventory, rewards & compliance.
High Adoption
Intuitive platform loved by employees.
Streamlined Ops
Automated expense management & reconciliation.
Support and Flexibility
Employee Travel Freedom
Employees can easily book, update, or cancel trips on their own through Navan's user-friendly platform.
Expert Support
Navan's support team is available 24/7 to address traveler needs. For VIPs, the company offers a premium, high-touch service through its Reed & Mackay agents with Navan Pro.
Overall, Navan is suitable for companies of all sizes, from small businesses to global enterprises. It has been praised for driving cost savings, with some companies estimating savings of around 15% due to its inventory, rewards program, and compliance features.
