The historical shift from a Travel Management Company to in-house booking created an arduous and lengthy process for team members. The time-consuming process, with limited, to no management information, there was a significant annual overspend on all forms of travel, this was due to both poor controls (out-of-date travel policy) and high supplier fees.
Travel
Travel
Approach
Proposed Project Objectives
Phase One: Market Testing, Specification Optimisation, Process Improvement and Make vs Buy
- An RFI process was initiated – inviting known high-performing mid-size suppliers (as deemed best fit). Each supplier was assessed using the pre-approached balanced scorecard
- Based on the initial analysis, policy amends were suggested to bring the client in line with industry standard
- Move all booking from a centralised team (allowed central staff to focus on business-critical activities) to a self-book online tool
- Utilising a travel management company reduced central costs and created greater efficiencies
Phase Two: Demand Management and Supply Base Rightsizing
- Make data-driven decisions, client to review travel requirements across the company using MI collected over 6 months
- Ensure Policy is fit for purpose and introduce standard measures like the use of video conferencing
Phase Three: Profit Sharing
- Explore profit sharing with the chosen suppliers to further drive efficiencies
1: Reduce the cost of all travel, including Hotels, Taxi, Rail and others.
2: Create a fit-for-purpose travel policy.
3: Reduce the time requirements for internal teams.
4: Significantly improve the available management information.
5: Ensure that each traveller has access to a best-in-class service that provides them with everything required to carry out their job.
Results
- Fit-for-purpose travel policy created
- Staverton delivered a total annualised savings of 18%
- The client was able to redistribute centralised resources into business-critical activities and central services
- Consolidated invoicing allowed for one invoice to be processed per month, significantly reducing the time spent by the finance team
Annualised Savings
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