Travel and expense management mobile app Rydoo has made its market debut as a result of a collaboration between Sodexo, Xpenditure and iAlbatros, the companies announced Tuesday (June 5).
Sodexo, a company that provides businesses and consumers with Quality of Life services, along with expense management software provider Xpenditure and business travel reservation management firm iAlbatros, joined up to create the Rydoo mobile app.
The companies said the app, a Software-as-a-Service (SaaS) offering, aims to address inefficiencies of corporate travel and expense (T&E) management, including manual hotel and flight booking, hotel check-in and check-out friction, and employee reimbursements. The solution emphasized user experience, the firms said, highlighting the app’s 93 percent average adoption rate in its first month of use within enterprises piloting the tool.
Those pilots resulted in an 87 percent reduction of processing costs and a 75 percent reduction in expense processing time, the firms added. Rydoo addresses flight, rail, car rental, and hotel reservation and booking processes — and integrates receipt data capture capabilities for employee users.
Sodexo Mobility & Expense President Didier Dumont said, “Keeping people efficiently on the move is essential for business success. Rydoo brings the travel and expense ecosystem together to gain time and real-time visibility for hassle-free performance. To deliver this to the market in an agile way, we define ourselves as a corp-up that combines the strength of a corporate company, and the agility and innovative mindset of a startup.”
The corporate T&E market is a hot spot in the enterprise mobility space, with developers focusing on the mobile nature of corporate travel to create T&E solutions that can move as employee users do.
T&E solution developers are also competing to secure a piece of a lucrative market. Analysis released last month from American Express found that T&E spend is expected to increase this year, with 30 percent of corporate executives reporting that they plan to increase their T&E budgets.