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Corporations Could Improve ROI From Business Travel Spend

Research from The London School of Economics and Political Science offers corporations a framework to unlock greater ROI from business travel in order to ‘manage every mile’ travelled for work

The study was commissioned by Amadeus through LSE Consulting, and insights are drawn from C-level executives from major international corporations around the world

Travel is often at the heart of many businesses, independent of size or sector. This is because business leaders know the inherent value of getting out of the office and meeting people face-to-face, despite the cost. The challenge now is to quantify the value of travel to ensure that organisations and travellers can make the most of their investment.

New research from LSE, commissioned by Amadeus, explores how corporations can get a better understanding of its Travel & Expense (T&E) programmes, unlocking a greater return on investment in the process.

Managing Every Mile, published today, reveals that through proactive management of T&E, using best-practice processes and automated technology, organisations can save money, increase employee satisfaction, and provide better duty of care for every mile travelled.

Key recommendations from the report include:  

Dr Alexander Grous, Lecturer in the Department of Media and Communications at LSE, and the report’s author, said:

Corporations need to implement a comprehensive framework for T&E spend management if they are to achieve maximum return on investment. The framework we have developed identifies five key stages, all of which are underpinned by technology: T&E strategic sourcing; T&E buying; traveller support and duty of care; expense management; and analytics and feedback. By following best practices at each of these stages, companies will secure optimised T&E spend management and ensure maximum return, while also driving greater operational effectiveness and employee satisfaction.”

Arlene Coyle, CCO Corporate Solution Sales and Marketing of Business Travel, Amadeus, commented:

Travelling for business is being transformed by major social, technological and economic drivers. We are seeing travellers’ needs, and the nature of the workplace, change in ways that require much greater dynamism and flexibility in travel management.”

She continued, “While there is no one-size-fits-all solution, this study reveals multiple opportunities to enhance ROI from the T&E management process, particularly through greater use of technology. Also, by going beyond the actual cost of business travel and by looking at what travellers want, how the booking process needs to work and the effect of this on productivity and duty of care, corporations are able to better shape their travel programmes and create better journeys for their travellers.

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Categories: Business & Finance
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