There are numerous driving factors for a corporation to consolidate its global travel program including enhancing savings, traveler safety, service, and transparency. Additional values of globalization are compliance through a regulated travel policy and productivity with globally consistent procedures. As companies are expanding into more countries, there has been increasing advantages to global consolidation.
Initially, globalization was an initiative used for larger corporations. Now, small and midsize companies are realizing new benefits as a result of global consolidation. With duty of care an ever-present concern for corporations, no matter the size, there are other opportunities besides risk management that are providing motivation for globalization.
In addition to travel program savings, the following are reasons for any size company to consolidate globally:
- Enhanced Traveler Security. Risk management is a crucial part of consolidation, as safety matters are simpler to handle with a combined policy. A Travel Management Company (TMC) can organize traveler profiles and booking data. The highest successful security programs have a solid mandate to use preferred TMCs and/or an online tool for all reservations including changes. Combining to a single or reduced amount of TMCs, rather than numerous tools and processes, can consequently aid in providing first-class risk management.
- Streamlined Service. A consolidated program can help produce superior service. Using a single or reduced amount of TMCs can assist with providing unified service and eases communication with travelers. Incorporating travel services over numerous areas is challenging and expensive; however combining these components aids in delivering a strong service experience. Moreover, consolidation permits a corporation to think about implementing mutual global service agreements. Many corporations understand that regions are varied and anticipate TMCs will be adaptable and provide a global or regional program that is consistent and efficient, however, permit cultural disparities.
- Increased Transparency. Improved and more unified data signifies that the pertinent information is stored in a single location and in a consistent format. Regulated procedures are clearer than a group of methods that are executed by various TMCs and vendors. Full service travel and expense management tools are not going to be consistent globally. Travel management expenditures become clear and allow for the return on investment of each trip to be more noticeable.
- Decreased Program Difficulty. For large corporations with a previously multifaceted program, working with numerous TMCs, cards, data sources, and different vendors generates increased difficulty. This process raises costs and reduces the corporation’s capability to deliver savings through managing compliance. Consolidation can offer a resolution by considerably decreasing program intricacy. Through a shared policy, decreased vendors, and mutual service agreement, corporations will require less staff to manage the program. Additionally, a decreased amount of TMCs lets any required program modifications to be implemented quickly and successfully.
Understanding the possible advantages of consolidation is not adequate and a program’s success should be cautiously envisioned. We have planned a guidebook to accomplish a first-class consolidation. This plan includes seven key stages to guide corporations through the complex initial stages of planning a global travel program consolidation. Click the button below to download our White Paper on the Blueprint for a Successful Global Consolidation.
