Travel program consolidation – beyond the savings

Travel Policy Consolidation

For a true end-to-end travel management service, which delivers a better return on your investment, travel program consolidation is key. With a Travel Management Company (TMC) experienced in large enterprise programs, your organisation will benefit from consistent policies and compliance, improved data capture and analysis, meeting and event support, strategic policy setting, innovative booking technology tools, improved transparency and added value. A dedicated TMC will ensure your policies meet your set KPIs, while continuously fine-tuning your strategy and conducting regular reviews designed to deliver a best practice program.

The key benefits of consolidation

Insightful data analysis and reporting

Today’s travel management process is a data heavy business and the scope of program consolidation should prioritise the capture of good data, in real time and in a user-friendly format. A consolidated travel program will enable data to be channelled into a single source, enabling it to be interpreted into valuable intelligence. However while sourcing high-level data is paramount, interpreting it is a science in itself. An experienced corporate TMC will be skilled at drawing out insightful data from booking and MIS systems, to report on a range of factors which can be measured against industry benchmark data.

Rich, unified can reveal insights into out-of-policy bookings, monitor program progress and spend, track the performance of suppliers and trigger an alert if airline contract volumes, for example, are not being met. Advances in technical platforms also capture more data and analytics about travellers, which can be used in strategic decision making and to develop more personalised end traveller experiences that are still policy compliant. Plus real time data gives stakeholders better visibility to help deliver best practice, while your TMC can use predictive data analytics to proactively drive travel policy negotiations and to assess price considerations.

Centralised control across the company

Consistency is the key to driving travel policy compliance. A travel program consolidated with one provider will help to reinforce clearly defined boundaries – across your organisation’s business, local region and global network. Having a key account manager - or a dedicated account management team – assigned to your core business gives your organisation the simplicity of a single point of contact. A centralised program management approach also facilitates the seamless rollout of regional or global technology solutions, such as Online Booking Tools. While having consistent procedures, processes and technology, can streamline processes for all travellers and lead to increased productivity.

Services beyond traditional travel

A major driver of corporate travel is the need for employees to attend meetings, incentives, conferences and events. Through the strategic management and consolidation of these events into an organisation’s overall travel program, centralised procurement can deliver significant savings. By capturing this data and centralising services - including air, hotel and ground transport – your TMC can align meeting travel practices with business practices. At the same time by incorporating meeting spend into the travel policy, businesses can draw on established supplier relationships, streamline processes and ultimately achieve cost containment.

Better traveller experiences and risk management

The strategic implementation of the most appropriate technology tools can enhance the traveller experience, increase overall traveller satisfaction and improve risk management procedures, across national and multinational offices. The security and safety of your travellers is an essential part of your organisation’s duty of care. With travel consolidated with preferred suppliers and all booked through one TMC, superior visibility mean that your employees can be monitored, located and contacted quickly in the event of a crisis or travel incident. In addition, in depth and consolidated reporting can monitor traveller behaviour and feedback, assess supplier satisfaction and report on TMC performance.

Consolidation delivers overall value

The savings achieved through travel program consolidation will vary from client to client, depending on the market and the current level of program maturity. However program value can be achieved through a variety of cost management strategies focused on booking processes, improved compliance, internal business buy-in, demonstrated travel spend, supplier negotiations, buying behaviour and negotiated travel management service fees.

For more information on the tangible benefits of a consolidated travel program talk to FCM Travel Solutions.