Combining a company's overall travel spend helps deliver value
In the corporate world, employees travel for two reasons: 1) to meet with clients or co-workers in other locations; 2) conferences and events. Employees either travel alone or in groups. When employees travel alone it is known as "transient travel". And this spend is being managed as a separate category. On the other hand, a different set of procurement team will manage a company's meetings and events.
Over a period of time, companies could not achieve much synergy in their overall travel spend since two different procurement teams were managing individual and group travel.
In order to optimize the overall travel spend, a few - if not all - companies are beginning to consolidate the expenditure incurred on transient travel, group meetings and other events.
Corporates view consolidation as an opportunity to leverage volume and derive cost savings through better negotiation with their suppliers.
The trend of consolidating the entire travel spend comes at a time when suppliers are quoting higher prices for their services. And amidst rising prices, corporate buyers are looking to increase their negotiation power with suppliers by leveraging their volume. This has resulted in the increased need for combining transient travel with that of meetings and events.
During the Webinar scheduled for November 25, Beroe's travel expert Harshita Thukral and Jaspreet S. Swaich, Associate Principal - Professional Services, would address various challenges faced by corporates when they embark to integrate transient travel with that of meetings and events. The duo will also spell out specific procurement strategies, which will be of help to category managers looking to consolidate their entire travel spend.
- Evolving sourcing practices for transient and group air travel
- Combining the hotel volumes of transient and meetings/conferences
- Key procurement challenges in consolidation
- Path to consolidation
- Case-based scenarios
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