Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
A report published by Carlson Wagonlit Travel”s (CWT) Travel Management Institute, has revealed that by consolidating their travel programme, companies can save up to 20% of their total travel costs.
Managing a travel programme on a regional or global level involves leveraging a company”s total travel volume and concentrating travel sources to just a few optimal suppliers. The travel policy, booking process and booking tools must also be standardised throughout the company.
Three quarters of the 120 companies worldwide who participated in the survey said they believe consolidation has a positive impact on service and security. Standardising aspects such as class of travel, advance booking, the need for alternative booking proposals and pre-trip approval across the business can save between 12% and 30% of travel costs.
Consolidating employee travel has a high or very high impact on security, according to 69% of survey participants. Having all reservations on one database enables companies to keep track of all their travellers, in order to locate and contact them in the event of an emergency.
Almost 60% of those surveyed employ a global travel manager, with a further 10% planning on doing so in the near future. And whilst CWT is, of course, keen to emphasise the 12% companies can save with a travel management company (TMC), it does nonetheless highlight that a TMC is not right for everyone. Companies need to spend a significant amount on travel to justify the use of a TMC, have a suitable travel pattern with traveller ”overlap” and an appropriate company structure.