The Future of Commercial Payments and Corporate Travel

Payment systems are no longer just operational tools – they are a lever for growth, control and risk management.

The payment system innovation landscape is fast-evolving, with new technologies rapidly becoming available to streamline business processes and uplift control over expenses. However, many businesses have been slow to update their payment systems – almost 80% of businesses do not have leading payment systems.

The consequences are material. On average, 35% of employee expenses in APAC occur outside policy, equating to approximately US$2 million in annual expense leakage per year (up to US$3.4 million for large businesses) and exposing companies to compliance issues. Fragmented systems, manual processes and weak governance continue to constrain performance and decision-making.

The opportunity to be gained from improving these systems, however, is significant.

Deloitte Access Economics’ modelling finds that businesses which move from basic to intermediate payment system maturity can unlock meaningful value, including an estimated US$2.9 million increase in profit, on average, over time (up to US$8.2 million for large businesses), while improving efficiency, compliance and experience.

While the payments industry is transforming, at the same time, external factors are raising the stakes and corporate travel is becoming more complex. Rising costs, geopolitical disruption and increasing duty of care expectations are putting pressure on corporate travel programs.

In a landscape of increasing cost pressures, business risk, and rapid innovation, now is the time for APAC organisations to understand the maturity of their payment system. Those who act will not only reduce risk and improve compliance but also unlock significant economic value.