Post updated: July 24, 2017
The data is in. Companies that launch a virtual collaboration strategy—one that lets road warriors stay home when a trip won’t significantly further business goals—see as much as a 15-to-1 return on their investment.
That’s the ROI that clients of business travel consultancy Advito have achieved just since April 2016, when Advito launched a total collaboration management (TCM) practice and joined forces with IT giant Cisco to help companies use virtual collaboration solutions to curb unnecessary travel. Based on that success, the two companies recently announced plans to expand their partnership.
“What’s unique about a total collaboration program is the quick cost take-out. Companies can achieve significant savings in months, not years, like other savings opportunities,” explained Lesley O’Bryan, principal and vice president of Advito.
She was on hand at the Global Business Travel Association conference in Boston, July 15-19, where Advito unveiled a savings calculator that gives travel buyers an immediate estimate of savings to be found by strategically managing demand, behavior and category spend. For example, the calculator shows that an average corporate travel program can reduce or redirect up to 4% of travel spend by opting out of just 10% of internal trips.
“The savings calculator is an eye-opener,” O’Bryan said. “Understanding the potential budget impact of collaborative technology gives travel managers a starting point for conversations with other departments and corporate leaders” about choosing virtual meetings over some trips.
At GBTA, Advito also announced its new Demand and Behavior Management practice, encompassing total
collaboration management, traveler engagement, technology strategies and more.
“It’s no longer necessary for companies to use methods like travel bans to make a significant impact on cost,” said Advito Managing Director April Bridgeman, who’s also a senior vice president of BCD Travel. “Instead, companies can use techniques like total collaboration management and traveler engagement to fundamentally change the culture by changing why people travel. This will result in a more consistent approach to travel cost control.”
Check out Business Travel News’ report on how Advito’s new Demand and Behavior Management practice will help travel programs maximize the power of tech tools.