Consolidation in corporate travel
Posted on May 6, 2013 by FCm Travel Solutions
Regional and multinational travel management is a moving feast – with multiple travellers across multiple destinations and an array of needs and expenses.
How well does your company track and control these costs? And do you check your performance regularly, to know whether your travel is becoming smarter and more efficient?
The key is to consolidate. Consolidation brings all the pieces of your business travel program together, to achieve work efficiencies at every stage of the travel process.
Consolidating your travel gives you a better insight, data and control to leverage the savings. With a focus on policy management and reporting, consolidation drives accountability and results by allowing you to monitor performance across three areas:
Your company’s internal travel patterns and improvements, which can be measured through tools such as policy compliance and exception reporting
The performance of your travel management company against agreed KPIs and the savings being negotiated for you.
The performance and suitability of your travel suppliers, which can be tracked through measures such as scorecards, rate auditing and rate loading.
In addition to these measurable outcomes, consolidating your data improves your travel risk management program by having centrally located information to track any travellers.
However, effective consolidation doesn’t come quick. It hinges on your organisation’s commitment to a change management plan that aligns your corporate travel culture with your business goals. An effective consolidation plan must be woven into a more comprehensive strategic plan because while you can achieve a good consolidated foundation within 6 months, leveraging the full opportunities is often recommended as a three year process.
If you’d like more information on how you can consolidate your travel program, have a chat with your travel manager.