In a consumer led world, the rapidly changing $1 trillion corporate travel business is ripe for innovation. Ritesh Gupta reports

Lets face it, for most people, corporate travel is tedious.

For most business folks, travel isnt the most attractive part of their job, says Jay Hoffmann, CEO and co-founder of Rocketmiles, a firm that allows travellers to earn frequent flier miles when customers book hotels through its website. In fact, its hard to find anyone who loves their existing tools for booking business travel, which leads to fertile ground for innovation.

It is here that Rocketmiles believes it has spotted an opportunity. As Hoffmann points out, while business travel may be a pain, this can be softened by the ability to save points or miles that could be used later for a special leisure holiday.

Rocketrip, a travel management platform and rewards programme, is another that has spotted a weakness in this market. Says Daniel Ruch, founder and CEO of Rocketrip: More often than not, company travel policies dont make sense.

Ruch cites the example of a policy limit of $500 for a domestic round-trip flight. For when? To where? In what season?, he asks, adding that static policies just dont work.

For this reason Rocketrip takes a step-by-step approach to managing travel

Step 1:It enters a companys high-level guidelines (coach vs business, non-stop vs connecting, 4-star vs 5-star hotel, premium vs. full size car).

Step 2:Next it it adds market pricing and availability in real time.

Step 3:The final input is the companys own algorithms what Ruch describes as its secret sauce so to speak.

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