Travel consolidating at cost

09 Dec

Christopher’s unmistakeable tenacity and ambition has always motivated him to make pioneering decisions, enabling him to own half of Maxim’s at just 28.Regional and multinational travel management is a moving feast - with multiple travellers across multiple destinations and an array of needs and expenses.“From this study, we’ve learned that the data management industry needs to provide consolidated, clear data so travel managers can control spending, deal with compliance issues, and better leverage the plethora of data they currently receive.” There are many shortcomings with how travel managers currently receive and utilize their data.A full 82% of travel managers “strongly” or “somewhat” agree that they have to manage multiple data sources to answer questions from management about travel spending, and three-quarters (73%) say they have challenges reconciling differences in reports due to data formatting.But effective management of team travel costs begins long before the road warriors head into battle.Even before the first business-class cashew is consumed, CFOs should have complete confidence that their travelling talent will be positive, productive, and ultimately profitable.Although a newcomer to the consolidation scene, we draw from Maxim’s Travel’s 25 years experience in travel industry and the extensive fares and ticketing knowledge of our staff.Christopher Goddard has been in the travel industry for 21 years, having worked his way up from being an office junior at Maxim’s Travel, to now being the full driving force behind the corporate travel agency.

The majority of CFOs recognise this, however just 27% of CFOs cite their relationship with travel management to be effective.With a focus on policy management and reporting, consolidation drives accountability and results by allowing you to monitor performance across three areas: In addition to these measurable outcomes, consolidating your data improves your travel risk management program by having centrally located information to track any travellers.A journey of discovery, change and maintenance Effective consolidation hinges on your commitment to a change management plan that aligns your corporate travel culture with your goals.So how can CFOs plan for profit, enforce company policy and avoid overzealous spending, all without sacrificing the comfort or security of their employees?We explore some tips and techniques to keep the company wallet in-check, capitalise on booking deals, reduce accommodation spend and arm management and travel teams with the technology to succeed.