Leading Organizations Adopt the Human-Centric Approach to Cost Management
August 24, 2017
From developing industry-first partnerships to releasing enhanced features that facilitate seamless traveler experiences, 2017 has been an exciting year and we're looking forward to more big things ahead! It's been amazing to see the world's leading organizations embrace our human-centric approach to reducing travel costs.
You can read our full announcement below. If you'd like to find out more about how Rocketrip motivates employees to go above and beyond to save on business travel, you can get in touch with one of our team members to set up a time to talk.
Future of Incentivized Behavioral Change Takes Shape as Rocketrip Continues Rapid Expansion and Customer Adoption
New clients across a number of industries including Pandora, McKesson Corp., Prologis Inc., and Fuze; further demonstrating behavioral economics motivates impactful cost-management.
NEW YORK, AUGUST 24, 2017 — Rocketrip, the leading technology platform for reducing corporate travel expenses, an increase in new client adoption with an impressive list of new customers including Pandora, McKesson Corp., Prologis Inc., and Fuze. Over the past year, the company has tripled in revenue as it accelerates its traction upmarket.
Rocketrip takes an unprecedented approach to fixing a slow-moving industry. Pioneering the Incentivized Behavioral Change movement in corporate travel, it is the only system to algorithmically predict what a trip should cost and to provide material incentives to employees for changing their spending behavior. The platform gives business travelers a personalized "Budget to Beat" for each trip based on a company’s travel policy, negotiated rates and real-time market inventory. Travelers who book under budget earn a share of the savings they generate to spend on things they truly value. Additionally, the Rocketrip Insights analytics dashboard enhances conventional expense reporting by aggregating data from all travel vendors, including airlines, hotels, car rental companies and even Airbnb.
“Rocketrip helps us to save on travel costs and accommodate our employees’ needs for flexibility and choice,” said Diana Scott, Chief Human Resources Officer at Prologis. “Their employee-centric solution fits seamlessly into our existing workflow and gives our teams the tools to make more informed, cost-conscious spending decisions."
Businesses can no longer ignore what employees and travelers want in order to save on the bottom line. By motivating extraordinary behavior through material incentives, Rocketrip unlocks greater cost savings than clients could realize through conventional travel procurement and expense management practices alone. On average this year, Rocketrip clients have saved $222 per trip (21%) against budgeted costs.
This year, Rocketrip also launched the first-ever collaborative technology ecosystem with some of the biggest players in the travel industry, like Concur and Carlson Wagonlit, to enhance booking and expense management workflows, while also developing apps and capabilities with technology companies such as Sabre and Travelport to automate and improve client-specific budget calibration.
Most recently, Rocketrip unveiled the next phase of its online booking tool integration to deliver its highly-customized budgets and rewards solutions to travelers at the point of purchase. The embedded solution creates a simpler booking process and gives travelers a deeper understanding of the value of beating a budget.
“We’re thrilled that some of the biggest companies in the world are quickly realizing the benefits of taking a human-centric approach to cost management,” said Dan Ruch, CEO at Rocketrip. “By improving an outdated corporate process, our technology has inspired some extraordinary behavior that allows for an adaptive, more autonomous workplace culture.”
Rocketrip reduces business travel costs by aligning employee and employer interests. The platform produces custom trip budgets for employees and motivates them to spend less by letting them keep half of what they save. As the global leader in Incentivized Behavioral Change, Rocketrip inspires thoughtful spending by giving employees a stake in their company's bottom line. It’s a win-win approach trusted by clients including GE, Edmunds, and Twitter.
Founded in 2013 and headquartered in New York City, Rocketrip's investors include Bessemer Venture Partners, Canaan Partners, Genacast Ventures and Y Combinator.