CWT Traveler

October 2018

CWT

Digging for gold: Uncovering hidden costs with the CWT Travel Consolidator

Are you sure you always have a clear view of your travel spend and know exactly which suppliers your travelers are using? Even if you manage your travel policy professionally and continuously improve it, there is no guarantee. The new analysis tool CWT Travel Consolidator opens up new possibilities.

We presented the new system in our last issue. Today, we would like to take a closer look at hidden costs. A lack of visibility can mean making decisions based on incomplete or even incorrect information, which often leads to missed saving opportunities.

The CWT Travel Consolidator combines all booked services regardless of the booking channel with data from credit cards, expense and HR data. By improving the visibility of hidden costs and services that have been booked via other channels, the tool enables you to identify missed savings opportunities, improve compliance and bolster your negotiating power with suppliers.

For instance, one of our clients saw her company was spending an average of USD 6.5 million on meals at Starbucks and Hilton Hotels. She also discovered that the ten top meal suppliers were hotel chains, allowing her to negotiate better prices with suppliers. Generally speaking, meals are not an expenditure to be taken lightly. Dining can typically account for up to 11% of an organization’s travel and entertainment spending. For some, meals are even their third-largest travel expense, after air and hotel costs.

But meals are not the only hidden cost. Another client used the CWT Travel Consolidator and discovered that 50% of the company’s total T&E spend was not being tracked! Its travelers were booking USD 23M on air, hotel and car rental outside CWT, as well as USD 16.5M on meals, USD 6.5M on transportation and USD 10M on other expenses.

The CWT Travel Consolidator reveals all of these hidden costs. For more information, ask your CWT program manager.

Unser Partner

CWT Traveler

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