What’s keeping CFOs awake at night? According to a recent Deloitte survey of UK Chief Financial Officers, a big focus is on cost reduction and how to achieve it. With Travel and Expense often cited as a top 3 company expense line item, T&E is often in the firing line. That’s why Amadeus, the largest provider of solutions to the global travel industry, has commissioned research to help companies see how they measure up and identify unrealised savings in T&E.
This useful benchmark appears in the ‘2015 European business travel and expense analysis’ report. It reveals that 59% of Online Booking Tool users have saved more than 10% on their travel budget. Depending on a company’s scope of activity, that could equate to significant savings. However, corporations believe that direct cost-saving optimisation has reached a plateau. So where should CFOs be looking to generate further savings?
The report provides an invaluable short-cut to insights on current practices and needs following research among Finance and Procurement Directors, as well as Travel Managers, from 590 companies in ten countries.
It reveals a clear thirst for innovation that optimises cost and travel management without sacrificing user experience for today’s web-savvy corporate travellers. Whether it’s planning a business trip, making changes while on the road, reporting expenses, or managing the whole landscape back at mission control: the research indicates a need to integrate corporate guidelines that are transparent to the user in order to boost compliance, whilst letting people get on with their jobs.