Key performance indicators for business travel are changing, and BCD Travel’s Torsten Kriedt cataloged the shift—and how to manage it—in a recent article in industry news site The Beat.
New KPIs center on metrics related to itinerary tracking; completeness of traveler profiles (for emergency communications); and sustainability, which Kriedt said is no longer just “hyped.” More companies than ever are running reports on carbon reporting, he said.
Kriedt also contributed to a tips list for travel managers looking for new KPIs to gauge program performance. Among recommendations published in the article:
- Determine to whom you will be reporting data, and decide what KPIs would be most relevant to each audience. Focus on what you plan to communicate to engage your stakeholder.
- Understand how KPIs contribute to a collective picture, not just what the number looks like solo.
- Design program goals first, and determine KPIs that advance them.
- Bring in a wider range of data than what your suppliers provide. Hotel data, in particular, might give a view of only a small portion of your program.
- Set meaningful benchmarks. Ensure they remain relevant to your business’s goals.
- Look internally at policies that might help or hinder KPIs.
