A new study by Forrester Consulting on behalf of Navan, the all-in-one business travel, payments, and expense management platform, reveals that companies using Navan achieved an average of 16% annual savings on business travel. The Total Economic Impact™ study found a 376% return on investment over three years, with a payback period of less than six months. The research, based on a composite analysis of a global enterprise with a $20 million annual travel budget and 5,000 employees, highlights how Navan’s integrated platform streamlines travel and expense management. By replacing fragmented systems and manual processes like receipt collection, the platform reduces administrative burden and increases compliance and employee satisfaction. Key findings from the study include significant improvements in efficiency and cost control. One Navan customer, a Global Category Manager in the life sciences industry, reported 17% in travel savings in 2023, with projected savings of 20% for 2024 and 2025. The company had previously managed multiple regional travel management companies (TMCs) and point solutions, but consolidating operations into Navan simplified the process and delivered measurable results. Navan’s AI-powered booking experience is a major driver of these outcomes. Instead of overwhelming users with endless travel options, the platform learns individual preferences and surfaces the most relevant choices. According to the study, employees can book trips in under five minutes, and 70% of all bookings are completed using the first five options shown. The platform also enhances financial control while improving the employee experience. Finance teams spend less time chasing receipts and more time on strategic initiatives, while travelers enjoy a seamless, personalized journey. Michael Sindicich, President at Navan, said the findings validate customer feedback: “When you eliminate the friction of travel and expenses, everyone wins. Employees get a tool they love, and finance teams can shift from compliance to strategy.” Forrester Consulting is a globally recognized research and advisory firm known for its rigorous, objective methodologies. The study is based on interviews with Navan customers and a detailed financial model. For more information and to access the full report, visit https://navan.com/resources/reports/forrester-tei-report-navan. Navan is a leading platform that simplifies business travel and expense management for frequent travelers. From booking flights and hotels to automating expense reporting and reconciliation, Navan delivers a user-friendly experience backed by 24/7 support. Forward-looking statements in this release are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially. Navan undertakes no obligation to update these statements except as required by law.