Business Travel Cost Reduction Using Best in Class Strategic Sourcing Methods
According to American Express Business Travel, travel and entertainment now comprise 15% of all indirect operating expenses.
Source One's travel expense management solutions will help your organization develop, implement and manage an efficient, cost effective and comprehensive travel program across all of your locations as part of your strategic sourcing initiative.
Our engagement to review your business travel expenses will begin by building a cross-functional team, including executive administrators, road warriors and other traveler coordinators. Each member will act as a team leader for their respective functional groups. Team leads will build consensus and solicit feedback throughout the travel strategic sourcing project.
Once the team is developed, Source One will conduct a spend analysis, if necessary, and will build a baseline report that details your complete travel profile, agency transaction fees, any existing contracted rates on hotels and car rentals, airline contracts and primary routes traveled.
We will conduct a RFP for Reliable Travel Agencies, with a focus on Service and Price:
- Dedicated Service Agents Configuration,
- On-line Booking Tools with Travel Policy Parameters (TPP),
- 24-hour in-house Toll Free, Global Coverage,
- Credit Card Reconciliation,
- Custom Travel Policy Administration,
- International Rate Desk / Visa & Passport Services,
- Blanket Discounts with Airlines, Car, and Hotels, and
- Other Services Important to Extended Team.
After administering the RFP, we will help you select the appropriate vendor by scorecarding and analyzing the responses. Source One will then assist in final contract negotiation, and qualifying and implementing the selected agency.
Our services do not end at implementation. Source One will periodically collect data on your travel profile and look to negotiate customized deals with your travel agency, hotels, airlines, and rental agencies and will help implement new contracts as appropriate.
Reducing Expenses
Leading companies are applying strategic-sourcing methods to travel purchasing. Source One can help reduce travel costs by aggregating spending across business units and regions, rationalizing your supplier base, and negotiating aggressive contracts.
Source One exists to help companies produce hard dollar results and increase qualitative aspects of procurement processes. Take a moment to read some of our success stories.
Cost Reduction Case Studies
Aggregating your corporate travel spend can be a daunting task. Let our team do it for you with our spend analysis solutions.
Travel Spend Analysis