Home » Business News » Currently Reading:

CWT Helps Clients Understand Their Travel & Expense Spending Patterns

November 23, 2015 Business News No Comments Email Email

Carlson Wagonlit Travel (CWT) today launched a new strategic framework, the T&E Decision Tree, designed to help clients understand and analyze their travel and expense (T&E) spend.http://www.centarahotelsresorts.com/

For many companies, T&E spending is a significant expense, so controlling T&E costs is critical to the health of a business. However, the sheer volume of related data makes it challenging to process, manage and interpret.

Catalin Ciobanu, senior director, Data & Analytics, CWT Solutions Group, said, “The T&E Decision Tree takes the different analyses companies are today doing on an ad-hoc basis and brings them together into one single picture. Looking at several categories simultaneously helps travel and finance managers decide what needs to be improved, in which order.”

The T&E Decision Tree simplifies the task by providing an immediate view of the ways a company could reduce spend. It uses algorithms to turn expense and TMC data into patterns based on three simple questions – what, how and why services and products are purchased. The spend categories are:

  • Travel management company (TMC)-booked services, including air, hotel and car;
  • Extra expenses, such as air ancillary fees or car rental GPS navigation charges;
  • Off-channel reservations not using the TMC;
  • Auxiliary spending, such as meals, taxi or parking;
  • And non-trip spending, including office supplies or short-range travel using personal cars or in-city transportation.

As well as providing a strategic view of overall T&E spending, the framework is flexible enough to handle new subcategories of spending as required. Once companies have identified the areas that need attention, they can use the T&E Decision Tree to:

  • Align T&E spending with business objectives;
  • Use the total cost of the trip in making travel decisions;
  • Reduce non-trip, auxiliary or extra spending;
  • And improve traveler compliance.

The T&E Decision Tree white paper is available at http://www.carlsonwagonlit.com/cwtsg/publications-and-media-centre/research-and-view-points/20151110-cwt-travel-expense-decision-tree.html.

Comment on this Article:







Time limit is exhausted. Please reload CAPTCHA.

Platinium Partnership

ADVERTISEMENTS

Elite Partnership Sponsors

ADVERTISEMENTS


Premier Partnership Sponsors

ADVERTISEMENTS


Official Media Event Partner

ADVERTISEMENTS

Global Travel media endorses the following travel publication

ADVERTISEMENTS