The overriding benefit of Management Information Reporting to a Business Travel programme is the transparency and visibility afforded to the Travel Manager.
Because all of your data is available to you in one central place it makes it much easier for you, the Travel Manager, to: plan, inform C-Suite and perform audits. Some of the responsibilities attributed to the Travel Manager that this function supports include:
- Planning budgets – with a clear visibility of where your spend is going, the Travel Management Company (TMC) can support you in planning for the future
- Duty of care – the TMC takes on the responsibility for Duty of Care, providing Traveller Tracking reports and supporting your HR processes
- Ensuring travel supports the company’s Corporate Social Responsibility ethos – the TMC can produce reports and methods for effective Carbon offsetting
- Preparation for quarterly Board meetings – your Account Manager can provide you with Executive Summaries in preparation for your presentations to the Board
- Justifying the use of a TMC over self booking tools – with detailed reports offsetting the costs of using the TMC against the savings they have achieved
- Note – the central database provided by CT Business Travel provides total visibility of savings and costs; ensuring that you have a fully auditable travel programme
This one single attribute of M.I. doesn’t just provide visibility to the Travel Manager, it also provides the TMC with a clear view of your Business Travel programme which means: Savings for your business
With such a clear view of your business, your TMC will be proactive in: identifying the most price conscious travellers, those travellers that book inside/outside of policy, your high growth regions for travel and this should result in an even stronger travel programme with negotiated hotel, flight and other ancillary rates.
A question, crucial for understanding the true benefit of your TMC and M.I. is - how does my TMC define a saving? There is a real distinction between the perceived savings value and actual savings value provided by many TMCs. Unlike some agencies, CT Business Travel will always represent your savings value as the difference between the fares offered – this is a much more realistic saving and provides you with a genuine insight into the savings your programme is making: if we just showed you the savings value as the difference between the offered fare and the highest available fare this wouldn’t be a true representation, as this highest available fair is unlikely to have been considered as part of your programme anyway.
Inspired to see what Management Information Reporting could do for your business? Why not contact one of our experts for more advice
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