The MacNair Travel Leadership Blog

Best Practices for Benchmarking Your Travel Program

Posted by Mike MacNair on Dec 29, 2016 12:00:00 PM

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.

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Topics: travel policy, Benchmarking, Travel Data

5 Benchmarking Tips to Drive Travel Savings & Compliance

Posted by Mike MacNair on Oct 25, 2016 12:00:00 PM

The importance of benchmarking cannot be overstated. Goals that include realistic key performance indicators (KPIs) and strategic metrics are now commonplace within sales, finance, operations and procurement departments. Your corporate travel program or travel department should also research peer companies and identify benchmarks that align with your industry’s performance in order to set realistic KPIs and goals for travel savings and policy compliance. Most often a travel management company partner can help you identify this information and establish some key metrics to benchmark your program against.

Developing accurate and relevant benchmarks can be challenging – especially if you’ve not previously tracked specific results for your travel program. The following five benchmarking tips will provide control and visibility into your corporate travel program, resulting in major savings.

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Topics: Benchmarking