Working with an esteemed travel management company (TMC) should deliver cost savings as part of a customized strategy that is created to provide you with a lasting return on investment (ROI). A managed travel program has many benefits beyond cost savings and enhanced productivity. Acendas recommends key financial strategies to be incorporated at the foundation of a managed travel program.
A crucial element of a managed travel program is policy compliance. Your TMC should assist with measuring policy compliance to identify the ROI of the implemented policies. In addition, Acendas recommends the following four methods to successfully gain a continuous ROI:
- Manage duty of care. Due to the risks related to business travel, your company is obligated to protect its travelers through methods including: proactive alerts, contingency plans, and completely combined and modified solutions. Your TMC should play a major role in duty of care by delivering ongoing, reliable value by investing in the security of your travelers.
- Analyze comprehensive data. Through your TMC’s reporting tool, the company gains an outlook of total travel spend, which your TMC will use to examine and decrease travel costs. An essential aspect of your TMC relationship is maturing a quantifiable travel program that recognizes developments, enhances your results, and due to capable reporting, persists to confirm that duty of care requirements are satisfied.
- Improve policy compliance. Compliance to a well-defined policy can single-handedly have an instant impact on your program and your company’s bottom line. Your TMC should collaborate with you to reevaluate the travel policy, implement customized solutions, through proficient performance management, and complete data reporting to confirm that compliance is maintained. Industry trends and market conditions pushed to increase policy compliance, which should include strategies to engage travelers.
- Control traveler behavior. In collaboration with your TMC, a company should review traveler’s purchasing patterns and actively motivate behavior to produce enhanced results. Through comprehending your traveler’s choices, your TMC can efficiently confirm a larger ROI by assisting you to increase your budget while reducing spend throughout the program from fares to ancillary fees.
Does your managed travel program need a new solution to make a better impact? At Acendas, we engage corporate travel management with Impact™ in mind. Acendas Impact™ delivers a structure for clear, defined results. Impact™ provides a measure of accountability for your corporate management strategies to ensure the outcome is meaningful travel to your organization. Acendas Impact™ refers to the effect we can have on our client partner’s culture and organization by managing the corporate travel program. It’s our comprehensive influence on the program, from financial, to account management, to crisis management.
Acendas’ philosophy is to create the optimum return on relationship (ROR) for our client partners. The ROR is what Acendas can drive above and beyond the travel program savings, not just a return on investment. Aside from financials, our ROR also focuses on proactive duty of care and account management.