30 October 2008

CFOs disatisfied by corporate travel savings

Less than 40% of CFOs are satisfied with the levels of savings delivered by corporate travel programmes in their company, according to new research.

In a report published by CFO Europe Research Services, in collaboration with Amadeus, 50% of CFOs also said they are still not wholly convinced of the business benefits of ââ¬Ëœgreenââ¬â¢ travel.

Other Key findings of the survey of CFOs in Europe, the US and Asia Pacific were:

- 63% rated online booking tools and 66% rated automated expense reporting tools as having medium to high cost saving potential.

- 71% believe it is very important to integrate travel technology with expense management systems, but just 18% say their companies have highly integrated these systems

- 75% believe travel managers should focus on improving supplier relationships. The research shows that this is an area where CFOs believe travel teams are currently underperforming

- 27% of respondents considered the relationship between corporate travel service departments and CFOs to be very effective.

Amadeus head of global commercial operations Frank Palapies said: ââ¬ÅâœAmadeusââ¬â¢ objective in commissioning this report has been to discover how finance and travel management departments can work together more effectively and what role technology can play in supporting this.

ââ¬ÅâœIt seems there is still a discrepancy between maintaining corporate travel service quality while striving to keep costs down, but technology can help by providing the tools to increase the transparency, efficiency and control of travel programmes.ââ¬~

The full study can be downloaded at: http://www.amadeus.com/corporations/CFOWP

By Bev Fearis

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• Business Travellers are not Cost Conscious
  
  

  Many 4 and 5-star hotel properties nickel and dime their guests in so many more ways than do 1-2-3-star properties. If lower star properties can provide complimentary WiFi, breakfast, etc. these high-rollers, or their CFOs, should look to receiving similar complimentary services at top-end establishments, or question the value-for-money. A USD$20 / day / guest WiFi charge at an Asian Hyatt property cannot be justified under even the most extreme circumstances. These exorbitant charges also apply to all manner of goods and services at 4 & star properties which are often near cost or complimentary at properties where room rates are several hundred per cent less.

  By Jon Hewson, Wednesday, October 29, 2008