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‘20% business travel cost savings from consolidation’ – CWT
Large companies are making travel cost savings of 20% by consolidating their business travel programmes.
A global study also shows that nearly three-quarters of companies surveyed believe that consolidation has a positive impact on service and security.
The findings come from research by the CWT Travel Management Institute of Carlson Wagonlit Travel, which included a survey of 120 companies around the world.
The savings come from three main sources – standardisation of travel policy and processes brings the greatest savings (12%), followed by concentrated sourcing with an optimal number of suppliers (7%), and standardized booking and fulfilment (1%).
Aligning travel policy rules across operational divisions and standardising processes results in average savings of between 12% and 30%, the research claims. In general, companies standardise four rules: the class or category of travel, advance booking, the need for alternative booking proposals and pre-trip approval.
CWT president and CEO Hubert Joly said: “Travel programme consolidation is a key lever to effective travel management. This study shows that a large majority of companies are working with a primary travel agency to help them in the consolidation process.
“CWT has already helped 150 clients consolidate their travel programme on a global level and another 180 clients to do so regionally.”
by Phil Davies
Phil Davies
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