Consultant’s Corner - Session 2 | The True Cost of Travel
#2 “THE TRUE COST OF TRAVEL” (TTCT) - RESETTING THE TRAVEL BASELINE
In the second of a series of 4 core strategy events, this event for ITM buyers, provides meaningful insight into the true total cost of ownership associated with a company’s travel, meetings, payment, and expense programme. Travel spend as reported by the travel management company is only a portion of the true programme costs. We will be looking at a new metric that identifies other costs associated, including bypass to policy, corporate card and general ledger expenses, and costs associated with processing, programme management, technology, and distribution costs.
We look back at our first strategy event where we provided intelligence on the debt mountain of the travel eco-system and how this, with additional supplier cost pressures will result in higher prices for the travel buyer. Our guest speaker, Ian Spearing from EY, provides insight into what strategies EY have adopted to mitigate this risk.
Integrating a Meetings & Events programme with transient travel has often been viewed as the “Holy Grail”. To integrate or not, that is the question for our guest speaker, Katie Knight from Astellas, who will offer informed opinion, insight, and guidance. There are many factors to consider, and we take a deeper-dive into the pros/cons, what to look out for, misconceptions, fact-checking, and the challenges of establishing a true cost of ownership baseline for M&E.
Learn about EY’s perspective on the rising costs of business travel and Astella’s views on establishing an M&E baseline and integrating an M&E programme with transient travel. Buyers will also be provided insight into capturing the true total cost of travel (TTCT), improving spend visibility, building a stronger business case for strategic optimisation, provide programme scalability and reduce risk, and disruption.