Core Insights - The 2026 State of Corporate Travel and Expense Report indicates a significant increase in the perception of business travel as an essential investment, with 90% of business travelers affirming this view, marking an 8 percentage point rise from the previous year [8] - Despite the growing importance of corporate travel, businesses face challenges due to outdated travel and expense (T&E) solutions, with 80% of travelers occasionally booking off-platform and 77% of travel and finance managers stating their current expense tools are inadequate [2][8] Industry Trends - There is a rising demand for AI-powered tools and comprehensive all-in-one T&E platforms among travelers and managers, reflecting a shift towards modernizing travel management solutions [2][5] - The report highlights that 76% of travelers now trust AI for straightforward T&E tasks, a notable increase from 59% in the 2024 report, indicating a growing acceptance of technology in travel management [8] Company Positioning - Navan's platform is strategically positioned to address the gaps in the current market by integrating travel and expense management into a single application, enhancing user experience for employees while providing finance teams with necessary real-time control [3] - The report reveals that 77% of travel managers are interested in an all-in-one travel and expense solution, up from 66% in the 2024 report, showcasing a clear market trend towards unified platforms [5][8]

Core Insights - Navan has been selected by Frasers Group as its global partner for travel and expense management [1] - Frasers Group is executing its Elevation Strategy to enhance its retail presence and build a compelling brand ecosystem [1] Company Overview - Navan operates as an all-in-one travel, payments, and expense management platform [1] - Frasers Group is the parent company of well-known retail brands such as Sports Direct, FLANNELS, and FRASERS [1] Strategic Initiatives - The partnership with Navan aligns with Frasers Group's goal to rethink retail and strengthen its brand ecosystem [1] - The Elevation Strategy aims to position Frasers Group as a leading retailer in the market [1]

Core Insights - Navan's platform provides a 16% annual savings on business travel for customers, as per a study by Forrester Consulting [1][3] - The study indicates a 376% return on investment (ROI) over three years with a payback period of less than six months [1][6] - Total benefits from using Navan are estimated at $9.1 million over three years, combining cost savings and productivity gains [6] Cost Savings and Productivity - Navan's platform consolidates multiple travel management systems into one, leading to significant savings and improved compliance [2][3] - One customer reported a 17% savings on travel spend in 2023, with expectations of 20% savings for 2024 and 2025 [3] - The platform's AI capabilities allow employees to book travel in under five minutes, with 70% of bookings made from the first five options presented [3][6] Market Position and Growth - Navan is positioned as a leading all-in-one business travel, payments, and expense management platform [7] - The Navan Business Travel Index indicates a 20% year-over-year increase in business travel activity in Q3 2025, significantly outpacing TSA travel data growth [9]