The Lloyd’s Register Group is a global independent risk management and safety assurance organisation. FCM has been the company’s preferred global travel provider since 2009 and works with Lloyds in 45 countries. After re-winning the business in 2012, FCM implemented an aggressive cost savings plan over 12 months, with a focus on consolidation, cost management, compliance, corporate social responsibility and customer satisfaction.
- FCM consolidated the program, to include newly acquired Lloyd’s businesses and operations in Peru, Venezuela, Egypt and Taiwan.
- Inclusion in the global travel program ensured these divisions could benefit from pre-existing supplier contracts and negotiated deals.
- Increased travel volumes enabled Lloyd’s to improve their existing strategies with suppliers, especially in Europe and for the company’s high-capacity air routes.
- Further consolidation delivered more hotel accommodation savings, via renewed supplier negotiations with contracted hotels.
- New strategies targeted improved buying behaviour around advance purchase, with the goal to have more than 30% of travellers purchase their domestic tickets 7–14 days in advance, rather than 3–6 days.
- Strategies were introduced to reduce missed savings by targeting lowest logical fares and non-compliant bookings.
- FCM took over the strategic sourcing of Lloyd’s global hotel program and global car hire program to reduce their internal resourcing costs.
- Consistent compliance procedures were put in place globally for travel booking, billing and preferred suppliers. FCM also provided consistent interpretation and application of policies, Service Level Agreement and Management Information Reporting across all markets.
- ISOS traveller tracking deployed via FCM’s ClientBank reporting tool, plus enhanced reporting feeds globally helped to streamline the traveller monitoring process.
- FCM provided the right tools along with easy user guides for Lloyd’s travellers, which were paramount to increasing higher online adoption rates.
Over 12 months, FCM’s global business plan successfully delivered an additional USD1 million in direct travel savings. Further consolidation of Lloyd’s travel program enabled further negotiation with a range of air, hotel and car hire suppliers. FCM’s global cost management plan included a new multinational business plan with a return on investment of multinational account management fees and program savings of 1:71.