consult the experts - Acendas

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Are your travel policies keeping pace with the changing times? Corporate ... Traveler Tracking. Always ... forms; 24-hou
consult the experts Joe Curtis, Vice President, Client Strategies 952-831-3525 [email protected] www.acendas.com

Is your travel program trending the wrong way? Are your travel policies keeping pace with the changing times? Corporate travel management has moved from the basic process of making an air, hotel or rental car transaction, to that of providing comprehensive business solutions. As specialists in this area, our conversations with businesses reveal many are lacking a sound program to manage the movement of their most valuable asset — their people. So, what is happening in the marketplace that is causing companies to turn to travel management companies (TMCs)? Here are a few: 1. Traveler Tracking. Always knowing where your travelers are throughout a trip and how to contact impacted staff falls under a company’s duty of care obligation. Duty of Care is an element of the larger risk management strategy that companies engage to protect themselves and their employees. If you are not receiving this service, you SHOULD be. 2. Online Booking Tools. These tools should be used to allow travelers to view and book at their own discretion, yet drive travel program compliant purchases. The tools currently available have plusses and minuses, but the important tactic is to implement one of them. 3. Branded Fares. These are increasing in the industry because they give the legacy airlines a fare category to compete against low cost carriers. They are NOT suitable for companies that want to manage their travel spend, and they are difficult to write into a travel policy. Show branded fares in your online booking tool, but gray them out, so they can’t be booked. 4. Data and Analytics. This newer concept is cool, as identifying travelers by their purchase behaviors is important. Their “averaged” numbers may be within acceptable benchmarks, but by analyzing their actual buying behavior, you can determine whether they’re really supporting the program, or just good at not getting caught. Knowing traveler patterns is the first step toward a true understanding of what is driving your travel costs. Then you can decide on the appropriate reaction. 5. Hotel Cancellation Policies. This trend is continuing to change and come in different forms; 24-hour are now 48-hour cancellation fees. Business travelers should be aware of this, however, it’s imperative to incorporate a reminder or other notice for travelers to cancel immediately, if plans have changed. It is important that your company has discussions around these travel industry trends because of their growing presence and impact on your operations. It is easy to see how the absence of a watchful eye and appropriate technology can result in higher cost and inefficiencies — not to mention missed connections. Investing in a TMC is not only a strategic business decision, but also an increasingly frequent pattern with the complexities and risks related to business travel, regardless of travel spend.