Wealth Management Business Travel Case Study 2017-07-17T16:43:12+00:00

Project Description

Wealth Management; Business Travel Case Study

Key Benefits

  • 11.3% reduction in year on year travel spend
  • 8% reduction in average airfares
  • 7% reduction in average hotel rates
  • £10 per night reduction in most frequently used hotels
  • Travel policy control has decreased First Class rail travel to less than 2%
  • Utilisation of high value, flexible rail tickets has reduced from 24% to 16% of transactions
  • Consolidated monthly invoice file sorted by cost centre for easy internal accounting

Background

Our client, with whom we have worked since 2009, have 18 offices spread across the UK with a Thames Valley HQ. Each office was managing their own travel with no booking system or form of control in place. The client was keen to ensure that they were maximizing their significant 6 figure annual travel spend and wanted to bring control to travel procurement and simplify their existing expense reclaim system.

Service Scope

This client has a diverse travel profile including overseas client visits, internal UK office travel as well as attending meetings and conferences. Current annual travel spend is £500k.

  • Flights
  • Accommodation
  • UK Rail
  • Eurostar
  • Car Hire
  • Visa Assistance
  • Traveller Location Reporting

Our Approach

We initially consolidated and reviewed the company’s disparate management information to review opportunities for fare/ rate negotiation. This led to the full negotiation of a preferred hotel programme. A rigorous travel policy was created, discussed and then implemented for all business travel transactions. KPIs were agreed and reported against in full through Management Information.

A communication campaign was devised and distributed to communicate to the client’s travellers and bookers the move to a centrally managed travel management service and crucially the benefits that such a change would bestow onto them as individuals as well as the business as a whole. Regular communication was also established which enabled us to demonstrate to all key personal the actual benefits our  service is delivering- cost savings etc.

Details

RELATIONSHIP COMMENCED

2001

CLIENT

Financial Services

TRAVEL PROFILE

Full service travel management

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