What’s the deal with big data? Data helps companies negotiate better deals. It shows whether funds are spent wisely. It helps companies reduce costs while still meeting their goals. Data is at the center of every good travel management program.
Let’s take an example. I’d like to negotiate a reduced hotel rate at a hotel in Phoenix. First, I need to build a list of properties to contact. To do this, I need to know the destinations that my travelers visit in Phoenix. This is easy if all of my travelers are going to my company’s Phoenix office. What if I work for a consulting company with many clients in Phoenix? What do I do if my company has several Phoenix locations? It’s even harder if my travelers are sales people who call on lots of different prospects. The best solution is to record the destination address of each Phoenix trip.
Next, I need to know how many nights my travelers spent at hotels for each destination. This will tell whether my travelers are spending enough to negotiate a rate. Once I have this information, I can create my target markets. For example, I might conclude that I need to negotiate a rate at a hotel in downtown Phoenix, a hotel in Scottsdale, and a hotel at the Phoenix airport.
Finally, I need to know which hotels are good fits for my company’s travel policy. Star ratings and average rates from the most recent year are some help. However, the best data is the actual rates that these hotels were offering when my travelers searched for hotels in Phoenix. Once I have this information, I’m ready to put together my short list of hotels and send out my RFP.
How does travel management become easier with a travel and expense system?
I can see how powerful this data will be. I’m still not sure how I can capture it all in one place. A cloud travel and expense system can help:
1. A travel management system will show how many nights my travelers spent in hotels in the most recent year for each location. It will also show prices offered by each hotel.
2. A expense system with mobile mileage tracking can quickly capture the street address of each traveler’s destination.
3. A strong travel policy will make sure that travelers use both systems.
Talk to Clarcity to learn more.