A new corporate card-based benchmarking solution for comparing T&E spend has been launched by American Express Global Corporate Services for its top 150 multi-national clients.
Global Card Benchmarking allows clients to compare their spend to that of their peers' so they can negotiate better deals and maximise savings.
American Express said the new tool was the first of it kind and would help corporates identify and evaluate savings opportunities, track relevant performance on T&E costs, improve forecasting accuracy and budget planning and validate travel policy.
Shane Berry, vp global client group, said: “Our new solution gives clients a way to compare their procurement effectiveness to other companies.
“By providing detailed information on T&E categories such as air, hotel and car rentals, we are enabling clients to negotiate the best possible deals with suppliers and maximise their programme savings.”
He said that cutting costs was only half the battle. Successful travel expense managers also needed to measure their performance and benchmarks offered external validation of how travel expense management programmes are really doing and a barometer to compare their performance levels and practices to other companies.
“By measuring their expense management programs against those of their peers, our clients not only gain a holistic picture of their spend, but also a better understanding of how to drive savings across a variety of T&E categories,” Mr Berry said.
Air Partner signs alliance with US company
Gatwick-based Air Partner, one of the world's largest air charter brokers, has signed an alliance with US company Sentient Jet, a dominant player in the North American market.
Air Partner said the deal created “the world's most extensive, seamless global private jet network” with each side having guaranteed access to the other's fixed rates.
David Savile, Air Partner ceo, said before this deal, air charter had been largely regionally-based.
Air chartering has enjoyed a major boom among business travellers in the last six months with a growing number of corporates choosing private jets as their preferred way to fly.