2018 U.S.-Booked Air
Volume: $90 million
Primary Air Suppliers: American,
British Airways, Cathay Pacific, Delta
Primary Hotel Suppliers: Hilton,
Hyatt, Marriott
Primary Car Rental Suppliers: Avis,
Hertz, National
Primary Online Booking Tool: GetThere
Primary U.S. Payment Supplier: American Express
Primary Expense Supplier: proprietary tool
Consolidated Global TMC: Amex GBT
Goldman Sachs increased spending on airline tickets at the
U.S. point of sale by about $10 million in 2018. That increase owed
particularly to client-related travel, as the company aims for $5 billion in
incremental revenue by 2020. Goldman Sachs offset the increase by controlling
nonclient-related travel. It expects U.S.-booked air volume to stay flat in the
upcoming year and is continuing to institute several mechanisms for managing
internal travel, including centralized pretrip approval, reporting and budget
tracking tools. The company established a new spend management framework for
third-party operating expense by implementing an SAP suite of tools, centered
around SAP Concur for the online booking tool and reporting. Concur’s mobile
app will be Goldman Sachs’ first approved mobile app for travel, and the firm
has decided to leverage the carbon footprint tool in its carbon offset program,
which will launch globally in late 2019 into 2020.