CASE STUDY
Controlling travel costs through strategy and technology
Background
This financial services company is a leader in the Australian market with operations spanning across all of Australia’s capital cities and major regional centres. The firm has more than 800 mortgage advisors, servicing close to AU$30 billion in loans for 250,000 customers.
Challenge: keeping up with growth
As the company grew via acquisition, it quickly realized that its travel program was not able to keep pace. The company needed dedicated support and expert advice on cost savings and strategic travel management. They reached out to FCM for help.
The solution: policy, technology, and cost controls
FCM appointed a dedicated account manager to guide the company’s strategic travel program. This account manager leveraged FCM’s broad industry reach and established supplier relationships to improve their negotiations with major hotel and airline partners.
The FCM account manager implemented FCM’s reporting suite, which provided the company with consistent data analysis and robust traveler tracking capabilities.
FCM also helped the company implement a new online booking tool that was easy and engaging for its travelers. It encouraged travel policy compliance using “Best Fare of the Day” and “Best Rate of the Day.” This initiative to find and book the lowest available fares and rates helped the company manage its travel budget more effectively. It ensured that travelers and travel arrangers always booked the most cost-efficient, policy-compliant options.
Results: a lower-cost travel program
FCM’s technology and dedicated account management expertise paid off in the following ways:
- Slashed transaction fees from 6.8% to 2.9% of its travel spend (57%)
- Decreased the company’s average domestic airfare
- Maximized travel policy compliance and leakage prevention via FCM’s online booking tool
FCM’s strategic expertise and smart business travel technology helped improve this leading financial service company’s travel spend visibility and create a corporate travel culture geared towards cost savings.
Ready to find out how we can help you reinvigorate your corporate travel program? Let’s talk.
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