Learn more about the newest shift in corporate travel and the dramatic impact it is having within companies.
NEW YORK, NY – Tripkicks, an enterprise platform focused on rewarding business travelers who make cost conscious decisions, has released a study analyzing the ROI for companies operating an employee-centric travel program, in which employees share in travel expense savings.
Employee Experience (EX) is all the rage across companies today, and for good reason. EX-focused organizations can generate four times the profit and two times the revenue of comparable companies, according to a study published in Harvard Business Review. While those statistics make it difficult to challenge its importance, in business travel the primary goal has consistently been cost savings. Most are familiar with common techniques companies have deployed to realize such savings:
- Implementation of automated expense management systems reducing transaction costs by 75%
- Data-driven supplier negotiations leading organizations to consolidate their total number of suppliers while negotiating more favorable rates
- Limiting travel frequency and creating more restrictive policies, reducing the total company spend with travel vendors
While the tactics above have historically led to savings, once implemented, their impacts have been muted on a year-over-year basis, leaving corporate travel managers asking, “what’s next?” The Great Recession is over, process automation has taken place, and supplier negotiations have led to diminishing returns. In fact, according to a joint study by the Association of Corporate Travel Executives (ACTE) and American Express Global Business Travel, 84% of travel managers believe future savings will come from managing traveler behavior.
Angelos is the news editor for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). His role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy.
He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.
