How do you know you’re driving maximum savings with your travel program? Are your negotiated rates above industry trends? Accurate and comprehensive travel data is the answer to these questions and the best way of measuring the efficiency of your travel investment. However, correct data and systematic travel management reporting are more than a bunch of spreadsheets and graphs. Without proper reporting and analytics tools, such as Hotelzon’s reporting features, corporate travel managers can easily struggle with the amount of data travelers generate.
Why you need comprehensive travel management reporting?
Travel managers need accurate, timely and complete data to effectively manage their company’s travel program. Travel management reporting and accurate data play a key role to gain useful insights on spend, budget forecasting, travel policy development and compliance. Plus, travel data is extremely important for travel managers as they rely on that information to drive supplier negotiations.
Everything in one place: consolidate your travel data
Every step travelers take generates huge amounts of data. From booking a hotel and renting a car to swiping their corporate card to pay for a business lunch – every action they take can capture meaningful data that offers visibility on your travel program’s performance. However, when these vast amounts of information come from very different sources, it will be difficult and time-consuming to reconcile and consolidate your information. An educated guess rather than true and clear intelligence is not the way you want to run your business.
When it comes to hotel bookings, it’s all down to booking accommodation through the correct channel. Leakage from travel policy due to, for example, offline bookings, will lead to inaccurate and messy booking data. Centralize your bookings in one channel.
How travel management reporting can help you control hotel spend
- Analyze historical data to get a view of the future. Get visibility into year-over-year spend to forecast your budget.
- Review nights per hotel and chain. If the major part of your travelers is opting for a particular hotel or chain, use this data and try to negotiate preferred rates for your company.
- Benchmark your company’s performance against average rates and industry trends.
- Investigate anomalies and understand bookings out of policy. This information might detect where you need to adjust your travel policy.
Learn more about how you can analyze your hotel spend with Hotelzon’s reporting features.