About Terumo BCT
Terumo Blood and Cell Technologies (BCT) is a multinational biosciences company and a global leader in blood component, therapeutic apheresis, and cellular technologies. Perfectly aligned with FCM in company culture, Terumo believes in the power of collaborative creativity and cultivates a work environment where associates feel valued and are inspired to contribute and really make a difference in the world.
Background & objectives
When we started working with Terumo five years ago, Terumo was contending with program leakage and fragmented traveler buying behavior, which was cutting into their ability to obtain the best rates, get visibility into their program, and track travelers in case of incident. They wanted to engage their travelers in a positive way, so that they could get the benefits of program compliance—like cost savings and meeting their duty of care—without forcing travelers to comply through hard mandates.
Then the COVID-19 pandemic hit, and suddenly Terumo was faced with an entirely new travel climate. Cost reductions and employee engagement became even more important, but the ways to achieve them had changed drastically.
In both these climates, FCM focused on what we do best: partnering with our clients in a strategic, proactive way—understanding their needs and using our experience and creativity to meet them swiftly.
“During the unexpected times that 2020 has provided in the travel industry, we have had a great partnership with FCM who has extended the normal travel relationship and duties to accommodate and keep us updated on any and all travel changes. They have been very proactive with moving airline tickets and updating any credits giving us a significate cost savings that we could have not done alone.”
- Michelle Letbetter – Commodity Analyst Indirect Procurement, Supply Chain & Logistics Terumo Blood and Cell Technologies
An improvement driven approach
Terumo BCT wanted to attain savings by focusing on traveler behaviors without mandating travel. They wanted to engage travelers by offering a great experience—helping them meet their strategic goal of developing integrated global reporting and consolidation, influencing travel buyer behavior to increase savings, and elevating their traveler engagement with FCM.
Sharing the multitude of technology and benefits available to travelers reinforced this organic consolidation. During our quarterly travel reviews with Terumo BCT, we investigated aspects of the FCM products suite that we could customize to bring real value to Terumo BCT’s travel program (for example, customized reporting, approval processes, and risk management solutions). Additionally, we offered facts and advice on Terumo BCT’s interests through the many webinars we conducted on travel tips and safety during COVID-19, through our return to travel tool kits, and via communication offerings to assist in policy consolidation.
Creating savings in Terumo's hotel program
Together, Terumo and FCM identified the hotel program as a key area to achieve cost savings, especially as traveler engagement and compliance increased. Our FCM Consulting division negotiated with more than 40 hotels for Terumo based on their travel patterns and spend for increased savings.
With the hotel contracts that FCM Consulting put in place, Terumo is projected to save 21% on their hotel program. All their negotiated hotel rates include breakfast and WiFi, and all permit Terumo travelers to cancel less than two days in advance (many are 24 hours or less).
These preferred partnerships further strengthen the reasons for travelers to book within the FCM ecosystem to get negotiated rates and amenities that they can’t get anywhere else.
And then the pandemic happened...
Right in the middle of the successes Terumo was achieving, the novel coronavirus emerged and transformed the business and travel landscape. Like many companies, Terumo had to adapt quickly, and they turned to FCM for help.
Cost savings were more important than ever, but the way to achieve them had changed drastically. The traveler engagement they had built with FCM proved incredibly valuable, because their employees knew who to turn to for accurate, relevant information and for help navigating this new world.
As travel came to an almost complete stop, FCM was able to continue our cost savings efforts by changing focus: monitoring Terumo’s unused tickets, applying refunds as necessary, and providing data on cost avoidance in managing these tickets. Our support in unused ticket management is reinforcing future cost avoidance and ultimately savings.
Along with monthly meetings to unpack their unused ticket reports, we provided Terumo with a breakdown of unused ticket usage along predicted levels when travel begins to increase. In all likely scenarios (whether travel returns at 100%, 50%, or 10% in the next year), Terumo should have no problem utilizing their unused tickets before they expire.
The value of traveler engagement in difficult times
The traveler engagement we had established with Terumo was instrumental in allowing FCM to quickly provide essential information to travelers once the pandemic hit—from travel bans and restrictions, to rates of new cases by location. As Terumo’s travelers were already engaged in FCM booking and information, our ability to support their travelers was streamlined and efficient.