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Biz Travel Booker Lola Fills Void by Following Rivals With New Expense Tool Breakout

Matthew Parsons

Photo Credit: A growing number of platforms are diversifying into expense management to offset declines in business travel booking revenue. Unsplash / Nathan Dumlao

Skift Take

Merging travel and expense will appeal to those corporations wanting to save money by streamlining operations, but with so many platforms now moving into budgeting tech, how will it stand out?

Against the backdrop of heavily reduced business travel, yet another booking platform has decided to switch its focus to expense management to claw back some revenue. This time it’s Lola’s turn.It launched on Wednesday a product called Lola Spend, marking its expansion into budget management. The move comes after it lost 95 percent of its business due to the pandemic. However, it's no stranger to swiftly altering its business model, after starting life as a leisure booking platform. The launch follows TripActions’ own change of tack earlier this month, expa

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