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Tuesday, 19 February, 2019, 10 : 37 AM [IST]

Redefining Corporate Travel Management by - FCM Travel Solutions & KPMG

FCM Travel Solutions, the Indian subsidiary of Flight Centre Travel Group (FCTG), Australia and KPMG released an analytical whitepaper titled ‘Redefining Corporate Travel Management’ that presents businesses with a holistic approach towards business travel and helps setting benchmarks to evaluate the performance of their chosen travel partner.

According to World Travel and Tourism Council (WTTC), Business Travel contributed to a major chunk (77.5%) of travel spends in the Global Travel Market in 2017. Globally, Business travel spend has now been able to reach the pre-recession levels and it seems to have embarked on an unprecedented growth trajectory in recent years.

According to Global Business Travel Association (GBTA), the business
travel spends in India stood at USD 37 billion in 2017 and is expected to reach USD 46 billion in 2019 with a projected annual growth rate of 11.5% - making India one of the world’s fastest growing business travel market. While India is the 7th largest business travel market globally, it is projected to be amongst the top 5 travel markets by 2022. Furthermore, India-China-Indonesia (ICI) travel spend is predicted to reach USD 565 billion in 2022 and is projected to be the largest in the world by 2035.

Out of the total business travel market in India, USD 7 billion comes from flights and hotels of corporate SMEs. Online bookings are estimated to account for around 40%-50% of the total transactions by 2020

To truly recognise benefits of business travel, corporates need to look at their travel management programme in a holistic way. The whitepaper focuses on key mainstays that make up a successful travel management programme; ensuring safety of employees, increasing cost effectiveness of the programme, boosting productivity of employees while travelling for business and greater transparency within the programme. Thus, aiming to succour organisations by helping them adopt a comprehensive travel programme that can integrate and fulfil the needs of all the stakeholders involved.

The report also details that while currently women account for approximately 30% of the economically active workforce, they also account for nearly 25% of domestic business travellers. This number is expected to rise as women account for 41.6% of those enrolled in higher education and are entering high level positions in the professional hierarchy. As the number of women in business travel increases, the industry will have to adapt to cater to this trend. In order to ensure safety of women travellers, certain adjustments will have to be made across all stages of travel such as cab booking, flights, hotels, etc.

Rakshit Desai, MD, FCM Travel Solutions, Indian subsidiary of FCTG, Australia, said, “The dynamics of business travel have been changing around the world in sync with the new age corporate traveller. The advent of millennial workforce has amplified the need for employers to understand the expectations and habits of the next generation of employees. This is leading to emergence of trends such as bleisure, value driven and mobile friendly business travellers, and an increase in women travellers. Corporate Travel Management companies have the ability to streamline a corporate’s travel by deploying user-friendly integrated solutions like digitised approval workflows and reporting system. While assisting corporates in optimising planning, approval and booking processes, TMCs also help corporates in shifting their traditionally offline processes like travel policies, approval matrices, expense management etc. online. This shift to digital processing will increase visibility into travel spends and trends, enabling comprehensive MIS reporting.”

Amadeus corporate travel solutions support the complete business travel landscape

Corporate travel providers Travel management companies (TMCs)
Business and multinational travel agencies
Corporate travel purchasers and end users Corporate travel managers
Travel arrangers and approvers
Business travelers
Corporate travel partners Developers
Third-party solution providers

Jaideep Ghosh, Partner and Head, Transport, Leisure and Sports, KPMG in India commented, “Corporate travel in India is being propelled by innovative technologies and traveller habits, fuelled by millennials. An effective travel management programme facilitates growth of organisations in this dynamic environment by allowing companies to focus on their core business and employees on their work. The whitepaper establishes the fact that through robust corporate travel management, India can achieve an even higher position in terms of business travel spends.”

Dr. Sanjay Pai, Head - Travel & Dir. Aviation, Larsen & Toubro, said “With tech savvy and youthful thought process, organisations need to be well equipped to address the demands of their corporate partners while maintaining their business deliveries. FCM Travel Solutions as our Corporate Travel Management partner, has been dynamic in adapting to the rapid change of digitalisation and operations to be our reliable travel partner. The whitepaper provides an in-depth insight on what is expected to optimise travel costs and to have pre-controls in place – a win-win approach”

Amadeus corporate travel solutions help you manage the total travel lifecycle with ease.

Travel lifecycle phase Business need Amadeus corporate travel solutions
Travel planning, booking and itinerary management Enhance productivity, boost revenue
Comprehensive trip planning and booking services
One integrated travel portal
Employee self-booking tools
Employee access to travel data
Mobile connectivity
Amadeus One® suite of solutions
Amadeus One Travel Portal
Amadeus One Desktop
Amadeus e-Travel Management
Amadeus mobile solutions
Data management and reporting Improve Efficiency
Consistent service across all channels
profile data consistency and accuracy
Integration with self-booking tools and Web portals
Amadeue one open Profile Suite
Travel risk management Manage expenses and corporate policy compliance
Interactive, multilingual communications
Vital tracking and alerts
Trip approvals/authorization
Policy compliance
Mobile connectivity
Amadeus One Desktop
Amadeus e-Travel Management
Amadeus mobile solutions
Travel expense and payment management Ensure employee satisfaction
simple expense report filing
Timely Approvals and payment
Mobile connectivity
Amadeus & Concur expense management
Amadeus mobile solutions
Program management and optimization Grow/expand the business
Strategic account management
Business consulting
Third-party data integration and sharing
Developer integration and sharing
Amadeus account management
Amadeus One suite of solutions
Amadeus Travel Technology Consulting
Amadeus Partner Network
Amadeus Direct

Manas Datta, Group CFO, Wockhardt, said, “Traditionally Pharmaceutical companies allocate a lot of budget towards travel. In today’s world, managing business travel is no more about just creating and organising bookings. There is a need for an employee engagement tool that no progressive organisation can ignore. FCM Travel Solutions manage our corporate travel and have developed a comprehensive travel programme that creates integrated and simplified policy-compliant processes that has helped us improve travel costs and also amplify employee productivity.”

Rajesh Padmanabhan, Director, Group CHRO, Welspun Group, said, “TMCs play a pivotal role in helping organisations run the travel function efficiently & optimise corporate travel expense better. With the convergence of innovative end–to–end integrated and automated solutions from FCM, we have witnessed considerable change in the way we manage our efficiencies & costs of travel. Features like automation, pre-travel approvals, self-booking tools and being able to customise according to the company are essential to Corporate Travel Management. I am confident that this whitepaper will truly benefit corporates to ‘Redefine Corporate Travel Management’ and enhance their productivity & performance.”

Communication and connectivity is essential for today’s traveller. Business travellers want control over their travel without hampering business objectives. Thus, by working on and building upon the four pillars, TMCs can continue to demonstrate the value they provide while corporations can embrace changes in their managed travel programs.

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