United Kingdom
United States
Asia Pacific
CFOs disatisfied by corporate travel savings
Less than 40% of CFOs are satisfied with the levels of savings delivered by corporate travel programmes in their company, according to new research.
In a report published by CFO Europe Research Services, in collaboration with Amadeus, 50% of CFOs also said they are still not wholly convinced of the business benefits of ‘green’ travel.
Other Key findings of the survey of CFOs in Europe, the US and Asia Pacific were:
– 63% rated online booking tools and 66% rated automated expense reporting tools as having medium to high cost saving potential.
– 71% believe it is very important to integrate travel technology with expense management systems, but just 18% say their companies have highly integrated these systems
– 75% believe travel managers should focus on improving supplier relationships. The research shows that this is an area where CFOs believe travel teams are currently underperforming
– 27% of respondents considered the relationship between corporate travel service departments and CFOs to be very effective.
Amadeus head of global commercial operations Frank Palapies said: “Amadeus’ objective in commissioning this report has been to discover how finance and travel management departments can work together more effectively and what role technology can play in supporting this.
“It seems there is still a discrepancy between maintaining corporate travel service quality while striving to keep costs down, but technology can help by providing the tools to increase the transparency, efficiency and control of travel programmes.â€
The full study can be downloaded at: http://www.amadeus.com/corporations/CFOWP
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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