CASE STUDY: Cost Savings
Corporate Travel Management (CTM) delivered over £760,000 in cost savings after the first year.
Through an intensive review of the client’s travel program, CTM identified key opportunities for savings without compromising on employee satisfaction.
Read on to find out how.
Overview
The client, one of the UK’s largest retailers, spends approximately £23m on travel annually and is serviced by CTM in 10 countries.
CTM completes over 156,000 transactions a year, with more than 100,000 delivered in the UK.
Objectives
The main objective was to conduct an intensive review of the client’s current travel program and identify opportunities for savings without compromising on employee satisfaction.
The key objectives were to:
- Review and identify savings opportunities across the travel program
- Improve booking efficiency and accuracy by increasing the use of online booking
- Achieve greater employee satisfaction when booking travel
Solutions
User-friendly Online Booking Solution: CTM provided its proprietary solution, Lightning, integrated with Trainline and Conferma for a complete end-to-end booking solution.
Unique Account Management Model: A dedicated account manager, hotel account manager and an executive assistant were implemented to manage all aspects of the global travel program including general account management, reporting, hotel program, reviews, consultancy, supplier negotiations, savings and improvement initiatives.
Agent Team: A dedicated team of 9 UK consultants service over 9,600 travelers for all air, hotel, car, rail and ancillary services. There is also a dedicated VIP agent and 24-hour service team.
Event Management: CTM’s in-house event management division, ETM, deliver over £3m of venue sourcing and group services annually and work in partnership with the transient travel teams to maximize on economies of scale and efficiencies.
Results
The client achieved over £760,000 savings after the first year through increased online adoption, venue sourcing and groups negotiations, hotel RFP, air savings, waivers and favors amongst others.
CTM also identified saving opportunities on a key international route, delivering £630,000 with a single change in Travel Policy. Working with the client to achieve greater savings, there were cost avoidance opportunities of £677,000.
Achieved 87% traveler happiness in our latest customer thermometer survey
Over 79,000 transactions made online annually, an adoption level of 67%
Compliance increased from 68% to 78% and from 83% to 95% for hotel rate caps
Talk to our expert team about how you can drive cost savings to your travel program.