Travel and Expense (T&E) budgets represent the second largest controllable cost for most organizations. Improving your managed travel program offers a huge opportunity to enhance your company’s bottom line and overall financial wellbeing. One of the most effective ways to accomplish that is through the process of benchmarking. For managed travel, the benchmarking process will compare key components of your travel processes (identified by you) against similarly sized organizations.
When you compare your managed travel program against companies with excellent managed travel programs in place, you will understand your strengths and weaknesses. In addition, any areas that require additional attention are identified so that they can be studied, analyzed and eventually improved by adopting best practices and implementing the results.