Mature travel programs are skilled at managing costs of major spend categories: air, hotel, car rental in the U.S., and rail in Europe. So, where should they dig next for savings?
Hidden Spend: Mining a Rich New Vein of Savings guides travel managers on how to get to the next level of travel cost control. This new paper and infographic from BCD Travel offers ways to unearth savings in sub-categories of travel spend, such as dining and entertainment, ground transportation and mobile charges.
Advito, BCD Travel’s consulting division, estimates that these sub-categories make up more than a quarter of overall travel spend. The challenge for travel managers trying to corral these costs is that travelers buy these services outside of the boundaries of the travel program. That means data on this spend can be hard to come by.
But today’s mobile technology and a new generation of virtual service providers are creating new opportunities to book, measure and manage these previously unmanageable sub-categories.
Hidden spend details these new savings opportunities and also describes how travel managers can use technology and behavioral economics to drive travelers toward smart buying decisions.
BCD Travel’s research shows companies can save 20-25% on these sub-categories if they use the right tools and techniques. The results can give travel managers a new way to shine light on the value of their programs.
Download the full paper. And ask your account manager about how BCD Travel can help even mature travel programs find new ways to save.