Benefits of consolidating corporate travel

19-Jul-2020 11:29 by 6 Comments

Benefits of consolidating corporate travel

In today's age of globalizations, corporations are increasingly seeing the benefits of consolidation of these parameters (savings close to 20 percent of the travel spend) on global, regional as well as local levels.

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Survey respondents and interviewees debated the advantages and disadvantages of mandated corporate card policies, but 65% agreed that mandating a corporate card program for T&E would help their company save money.Lack of oversight and control of T&E spending means that the CFO can’t know precisely whether value is being realized from T&E spending or not.A company’s payment methods are often adapted to the control processes a company has in place, the type of employee making the purchase, the kinds of technology available both to make purchases and process transactions, and the corporate culture. In the survey, more than two-thirds (69%) of senior finance executives agreed that their companies would benefit from better control over T&E.Consolidating payment methods and streamlining reporting and payment processes can be important toward controlling T&E spending.A retail chain treasurer commented on the corporate card program his firm chose: “It really gives us a more controllable and mechanized asset for going through the expensing process …But since you haven't clicked the "about" pages on these sites, you're unaware all the brands within these four sectors are sister companies.

In fact, the wide world of travel is much smaller than many consumers realize, with the latest consolidation occurring in online travel.

Unless, of course, Expedia buys Priceline next month (or vice versa).

Travel industry executives, analysts and regulators debate whether such consolidation inspires healthy competition.

My views on airline consolidation have been very public in recent years; I've testified in Congress for Consumers Union in opposing several recent mega-mergers.

I've written about it here, in 20.• Car rentals Consider a major U. airport offering nine major rental brands: Alamo, Avis, Budget, Dollar, Enterprise, Hertz, National, Payless and Thrifty. In fact, those nine brands are owned by just three corporations:* Avis Budget Group operates Avis, Budget and Payless (and Zipcar)* Enterprise Holdings operates Alamo, Enterprise and National* Hertz Global Holdings operates Dollar, Hertz and Thrifty• Cruise lines Consolidation has been rampant in the cruise industry for decades, as have concerns about such consolidation.

You visit three different online travel agencies (OTAs): Expedia, Orbitz, Travelocity.