Global travel provider

Client:
Investment firm – privately-owned, institutionally-focused investment firm specialising in public and private corporate credit

Office locations:
London, New York, Singapore, Central and Western Europe

Global yearly travel spend:
£1 million

Services required:
Flights, hotel bookings, visa application, lounge access, private transfers, 24-hour service, monthly travel data, strategic account management, meetings and events

Key challenges

  • A need to implement and execute a global travel management programme across numerous locations to ensure all offices work efficiently and cohesively.
  • There was a real lack of accurate, consistent and useful management of information due to the client previously not working with travel management company (TMC).
  • The client wanted to have visibility of their global travel spend, rather than having each office as a separate entity.
  • The goal was to reduce global travel spend.
  • A strong focus on duty of care was required.

TAG’s solution

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  • The client moved their travel programme to TAG in March 2013 – and TAG is now the sole travel supplier for the company across their global offices.
  • The client initially started trading with TAG solely in London, but in the long-term they envisioned having a single TMC to manage travel for all global offices. A year later, the client started trading with TAG in New York – and in early 2017, they began trading with TAG in Singapore. As such, TAG was managing travel across all of the client’s office locations.
  • The Account Management and Operations team worked with the client’s relevant contacts across their global office locations to ensure that travel procedures and policies were adhered to.
  • Through reporting and spend analysis, TAG quickly saw that there was a lot of point-to-point travel in Europe, as the client has numerous European offices. TAG suggested onboarding an online travel booking tool to reduce their travel spend.
  • Because a vast number of the client’s employees can be travelling at any one time, TAG implemented one of our in-house technology solutions: TAGsafeguard. This provides the level of duty of care that the client needed – and enabled the client to see where all of their employees are travelling in real time.
  • Monthly, quarterly and any ad-hoc reports are now provided, giving the client complete visibility of their global travel spend, savings and market analysis. This allows them to implement and enforce a global travel policy, accrue points on global frequent flyer programmes and access TAG’s global network of preferred suppliers.

Outcomes and benefits

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  • The client now has one global provider, which has reduced their expenditure – through negotiation of global airline deals and global hotel rates.
  • Paying in local currency helps with exchange rates and simplifies the invoicing and finance reconciliation process.
  • Consolidation of management information reporting provides complete visibility of global travel spend – as well as showing the spend of each office location as separate entities.
  • The implementation of TAG’s low-cost online booking tool has reduced the client’s costs.

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