Controlling Costs and the Negative Impact of Economic Downturns are Top Worries for CFOs, Financial Execs
Controlling travel costs internally and the prospect of a
significant downturn in domestic and global economic markets impeding business
travel are among the top concerns of a majority of financial executives who are
key stakeholders in their managed travel programs.
In an online survey of 50 Chief Financial Officers (CFOs) or
financial executives conducted by BTN Group Content Solutions, controlling
costs to align with budgets was identified by the largest segment of respondents
(44%) as one of their top three concerns.
Just over one-third (34%) of respondents said travel policy
compliance, and accurate and timely reporting on travel spend, were also among
top concerns directly related to their managed travel program. Defining and
quantifying ROI from managed travel was cited by 30% of CEOs and financial
executives surveyed as one of three top concerns.
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CPOs and Procurement Execs Want to Play a More Strategic Role in Managed Travel
Chief Procurement Officers (CPOs) and procurement executives
would like to have more impact on shaping their organization’s managed travel
policies and programs.
In an online survey conducted by BTN Group
Content Solutions and sponsored by SAP Concur, half of the CPO and procurement
executives surveyed said they were satisfied only “to some extent” with their
involvement with, and impact on, their travel management program. Just under
half (48%) said they were “definitely” satisfied with the role they played in
managed travel and their impact on travel policy and programs.
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Cost Controls, Traveler Safety and Satisfaction are Top of Mind for HR Executives Involved with managed travel
When it comes to the role they play in their managed travel
programs, human resource executives and Chief People Officers (CPOs) appear
equally focused on cost controls and traveler safety and satisfaction.
Those are among the key findings from an online survey of 51
HR or top People officers conducted by BTN Group Content Solutions. As part of
an Executive Stakeholder View of Corporate Travel study, sponsored by SAP
Concur, BTN Group asked more than 200 executives in four key areas for their
views on managed travel.
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Planners Want Pain-Free Reconciliation to Paint More Robust Meeting Spend Pictures
Mention meeting payments and reconciliation, and you’ll often see meeting planners and stakeholders wince. Whether due to a lack of consistency or standardization of invoices, an inability to use technology to automate the reconciliation process, or the frequency of billing errors as compared with contracted; budgeted; and expected charges, few planners claim to find much value in today’s meeting payment and reconciliation process. Read more…
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Is it Time to Rebid or Simply Refine TMC Services?
Selecting a travel management company is among the most consequential decisions to make within a corporate travel program. The chosen TMC will serve as the client’s primary travel service provider, so its approach to service, technological capabilities, ability to evolve with the times and its global reach will have a profound effect on the effectiveness of the managed travel program. As such, the TMC selection process is often complex, lengthy and carefully considered, given the gravity of the choice.
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