LateRooms.com has launched the first phase of its new corporate travel service, LateRooms.com for Business.
Laterooms.com for Business is designed to provide corporate clients and business bookers with a cost-effective service that offers sophisticated data and reporting capabilities.
Launching in full later this year, the company says the service will 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, offer the latest functionality to both current and new customers.
The service works differently to travel management companies by being completely free to use (there is no booking or modification fee), cutting out the average booking fee of £10 and 15% commission usually applied.
On this basis, the company claims a corporate client could save £28 per booking, on an average booking value of £120. For a business spending £1million per year on accommodation, this equates to an annual saving of more than £233,300.
New features available as part of the first phase launch include a VAT 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 per year on time spent internally in VAT reconciliation processes.
A newly introduced My Account area provides users with a reporting suite that streamlines the way businesses manage their staff travel requirements. Users are able to 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 as LateRooms.com announces partnerships with businesses including NCP and CabFind.com.
Greg Mannix, head of Corporate at LateRooms.com, said: “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.”