“Our Cases”: Modernizing a Business Travel Program for a Leading Financial Company

This time in the “Our Cases” section we will tell you how to easily and effectively optimize business travel management, even if we are talking about a leading financial company. We will share our experience and show how centralized solutions can significantly improve booking processes, reduce risks and cut costs.

*Due to the terms of the Non-Disclosure Agreement (NDA), some details have been changed or omitted. This case study is intended to demonstrate our unique approach to solving complex business problems and achieving set goals while strictly maintaining the confidentiality of our clients.  

Given:

• Client: XXX
• Industry: Banking and other financial services
• Number of employees: 1500+
• Number of business trips: 15+ per month
• Business trip destinations: Russian Federation, China, UAE

Task from the client:

A leading financial services company with offices in several countries and employees who travel extensively for business, faced a number of challenges in managing business travel. Outdated reporting processes, poor employee engagement, and a lack of transparency in expense management were creating significant challenges. This resulted in inefficient use of resources, difficulties in budget control, and decreased employee satisfaction. The company realized it was time for a change and began looking for solutions that would help streamline processes and regain control of the situation.

Difficulties in organization:

1. Outdated reporting processes that required manual data processing, causing delays and errors. There was no automation, making it difficult to work with large volumes of data. Employees spent a lot of time collecting data, distracting them from important tasks.

2. Lack of communication between staff regarding reservations, leading to errors. Poor communication between departments made coordination difficult. There was no centralized access to information, making it difficult to select the best reservation options.

3. Lack of transparency in expense management makes budget control difficult. The lack of uniform standards led to spending limits being exceeded. There were not enough tools to analyze the effectiveness of travel expenses.

Solution:

To implement modern solutions, the company decided to turn to business travel management experts TravelHub. The focus was on updating reporting, improving employee communication and increasing cost transparency.

• Modernized reporting: Modern automation tools for reporting significantly reduced the time it took to process data and increased the accuracy of reports. The new system provided detailed analytics and data visualization, which made it easier to control expenses. Thanks to automation, errors were reduced, and employees were able to focus on more important tasks, such as analyzing data and developing strategies for optimizing expenses.
• Improved employee communication: New communication channels and tools were introduced to increase employee awareness, including a portal with detailed instructions on booking and reporting. Training sessions and webinars helped employees better understand the new procedures and tools, reducing errors and increasing the efficiency of booking processes.

• Increased transparency : A transparent expense tracking system allowed the company's management to obtain timely data on business travel expenses, which helped to better control the budget and identify areas for optimization. The system provided access to data in real time, which allowed for quick response to deviations from the plan and the necessary actions.

Results:

• Improved reporting: The new reporting system was a real breakthrough, ensuring the accuracy and timeliness of data. This allowed the company not only to better control its expenses, but also to plan its budget more effectively, avoiding unnecessary expenses.
• Increased engagement through improved communication and employee training. As a result, errors have been significantly reduced and booking processes have become more efficient. Employees are now well aware of procedures and can manage their trips effectively.
• Increased transparency, thanks to the implementation of a new reporting and expense management system, ultimately provided budget control. This allowed the company to optimize its resources, identify and eliminate ineffective practices, which ultimately led to a 20% reduction in travel expenses.

Employee review: “We would like to express our deep gratitude to the TravelHub team. Thanks to your professional work, every business trip goes smoothly and efficiently. You always find optimal solutions and find the right balance between the wishes of our employees and the interests of the company. Your ability to quickly respond to any changes in plans is especially valuable. Thank you for your reliability and support!"

This case highlights the importance of modernizing business travel management programs. Improved reporting and employee engagement can significantly improve the efficiency and transparency of processes, as well as ensure more efficient use of company resources. Use TravelHub to make your business travel even more efficient and convenient.