LateRooms.com has launched the first phase of its brand new corporate travel service, LateRooms.com for Business.

The new tool is free for businesses to use and will extend the brand’s current corporate offering into a fully integrated online solution.

LateRooms.com for Business is set to provide corporate clients and business bookers with a service not available elsewhere in travel management, bringing about huge cost and efficiency savings, as well as sophisticated data and reporting capabilities.

Launching in full later this year, the new tool will bridge the gap between online travel agents and travel management companies to support the bespoke accommodation booking needs of corporate clients. 

A set of first phase developments, released in advance of the tool’s full rollout, offer the latest functionality to both current and new customers.

The service works differently to travel management companies by being completely free to use (there is no booking or modification fee), cutting out the average booking fee of £10 and 15 per cent commission usually applied. 

New features available as part of the first phase launch include an innovative VAT solution which uses an automated tool to support corporate clients in claiming VAT expenses for hotel stays. 

The tool could save large businesses up to £20,000 per year on time spent internally in VAT reconciliation processes. 

A newly introduced My Account area provides users with a reporting suite that streamlines the way businesses manage their staff travel requirements.

Users are able to make bookings online, take advantage of dedicated corporate rates, save pre-selected filters that allow time saving and cost management, and keep track of activity through a travel booking summary section. 

Bill back functionality also allows users to set up a credit account for hotel stays, to be billed at the end of each month.

A range of additional benefits are also available for corporate clients when travelling for business, such as discounts on parking and taxis as LateRooms.com announces partnerships with businesses including NCP and CabFind.com.

Greg Mannix, head of corporate at LateRooms.com, said, “We’re set to completely raise the bar when it comes to corporate travel management with the launch of LateRooms.com for Business. 

“After building up years of expertise in the corporate travel industry, we know exactly what these customers are looking for. 

“We’re very pleased to be able to provide the next evolution in our service to meet those expectations, streamline the corporate booking experience, and provide very significant cost savings for our clients too.”