Successfully launched in the US in July 2001, OptiMiser is a global methodology that offers companies total control of not only their travel expense management system, but also identifies and quantifies savings opportunities, and recommends solutions that will reduce costs and improve overall traveller satisfaction.
TQ3 Travel Solutions recognises that for most companies, travel expense is becoming one of the largest controllable expenses, said Marc Hildebrand, CEO of TQ3 Travel Solutions. This trend is being intensified by market conditions that are dramatically changing the way companies manage their travel expenses – from sweeping economic changes driven by commission reductions to the advent of electronic commerce, combined with the rise in strategic sourcing. As a result, companies are searching for ways to squeeze costs out of the entire travel expense process without sacrificing customer service.
According to Hildebrand, companies that effectively manage their travel expense have a significant competitive advantage. OptiMiser is responding to market needs as the industry`s first global, solution-neutral, travel expense management process. It will provide senior management and supply chain managers with a comprehensive way to analyse the key aspects of their travel expense management program, thereby maximizing their company`s total travel investment, he said.
OptiMiser Functions as an End-to-End Analytical Process
As an end-to-end process, OptiMiser examines the six key activities commonly associated with a travel expense management programme. These six activities, known as OptiMiser`s Performance Drivers, focus on the critical components of travel expense management and include:
* Budget Management
* Policy Management
* Supplier Management
* Reservation Process Management
* Payment Management
* Expense Reporting Management
By comparing clients` existing purchasing practices against industry best practices and quantifying potential savings, TQ3 Travel Solutions uses its OptiMiser process to identify specific action steps to improve performance and produce meaningful results to the client`s bottom line. TQ3`s account managers then apply the Strategic Partnering Process, TQ3`s client business planning approach, to perform additional activities pertaining to maximising results, including identifying needs, quantifying opportunities, evaluating solutions, implementing plans, measuring performance and continuous improvement. The Strategic Partnering Process ensures that each client has a customised travel expense management programme tailored to meet his or her specific company goals and objectives.
TQ3 shifts to travel expense management consultancy
OptiMiser reflects a strategic shift for TQ3 that takes the focus from being an agent of the supplier to being a travel expense management consultant for the customer. Unlike most of our agency competitors, we`re not just trying to sell more airline tickets. Rather, we`re using our extensive knowledge of travel expense management processes and best practices to help our clients reduce their travel expenditures and improve their competitive cost advantage, stated Toby Joseph, Chief Operations Officer of TQ3 EMEA-APAC.
According to Joseph, this new strategy is consistent with the company`s increasing presence as a worldwide organisation committed to serving multi-national clients.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
