With travel comprising a significant spend for many companies, it is not at all surprising that such expenses regularly come under close scrutiny.
While it is prudent to ask such questions, it is not a best practice to provide the answers without the best possible information. Travel managers have found an ally in achieving an effective and efficient spend through travel management companies (TMCs). One means that TMCs demonstrate their value is through providing actionable data to support company policy and to determine the extent by which team members are complying with it.
For example, hotel chain A and hotel chain B might be equal in features, but hotel chain A has a 10 percent lower rate based on usage patterns. What is determining the usage pattern? In most cases, a company preferred hotel already has a negotiated rate, which is lower than surrounding hotels. It is easy to see why the company policy is to use hotel chain A. Data is also key in determining not only the “what,” but the “why” as well. A company may make a travel policy adjustment to require stays in lower priced hotels.
These examples demonstrate the value of data and its interpretation provided by TMCs that can be positively leveraged in the company’s decision-making process. There are numerous others. Does your planned increased rental car usage for the upcoming year provide the opportunity to negotiate a more attractive contract? Are there unused airplane tickets that can be utilized instead of being allowed to expire, thereby showing an investment with no return? Are expenses too high because travelers are booking too late to take advantage of better fares and rates?
TMCs can offer solutions that not only make dollars and cents, but can also make dollars and sense. Upon completion of a trip, Acendas Travel queries travelers regarding their satisfaction and requests feedback. The survey contains one question; however, it gives Acendas the ability to report back on type of travel, vendor usage, booking channel, and overall satisfaction within your corporate program.
Is it possible to regain control of corporate travel spending without creating traveler “friction”? Road warriors in particular are dealing with more business travel stress due to long layovers, changing reservations mid-trip, or unproductive time in transit. Research shows, team members will quickly seek better opportunities if a policy results in what we call “friction.” There are several methods recommended to reduce “friction’ in travel and enhance the traveler experience, which mainly focus on mobile technology apps and proper travel policies.
If your current TMC does not provide a reporting and analytics tool or suitable traveler feedback, it would be beneficial to switch providers. At Acendas Travel, our founding philosophies are to create and develop lasting client relationships. As such, Acendas Travel partners with our clients, providing yield management and cost savings initiatives, high-touch account management services, customized reporting with analytics, and proactive crisis management and traveler monitoring solutions.
Are you in need of a better reporting solution? Ask us how Acendas DecisionSource, powered by BCD Travel can transform ordinary business information into actionable, influential, and intuitive data. For more information, click the button below to download our DecisionSource Analytics Flyer.
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