The power of predictive thinking in driving program compliance
The power of being able to predict traveler preferences and forecast prices have a much greater impact on what you do with that (fore)knowledge.
Future Ready: Three Cs of managing travel in 2020
Air, hotel and ground predictions for 2020 come with global uncertainties. Between the climate crisis, Brexit and trading disputes, the outlook is foggy to say the least. But challenges, they say, aren’t stop signs. They are guidelines. Here are three Cs to consider when managing travel in 2020.
Flying in Fog: Can your travel program weather turbulence?
Whether you favor older wisdom like the Serenity Prayer or a daily dose of Instagram inspiration, some version of “control the controllable" offers solace in strange times. Humans aren’t built for extreme uncertainty and there’s a lot of it around between climate change, trade wars, Brexit upheaval and rising oil prices.
Two at a Time: Buyers Embrace Longer Hotel Contracts
Corporate travel programs are increasingly ditching the annual hotel sourcing ritual in favor of longer-term commitments. Why? Multi-year contracts mean less time spent sourcing, and more time optimizing and building strategic relationships with suppliers.
Tale of Two Worlds: How to manage a hotel program in EMEA
Managing the local portion of a large corporate hotel program requires you to live in two worlds. You have to design a plan to accommodate the distinctive needs of your region while also taking your company’s larger travel strategy into consideration.
Why airfares are forecast to increase despite a softening global economy
Average ticket price (ATP) for air is forecast to increase by 2% globally in February, despite what many economists predict will be a softer global economy heading into 2019. Between anxiety over trade wars, a chaotic Brexit negotiation, and jittery markets, the global economy is expected to decelerate, but, the key is, it will remain above trend, which is helping to shield prices.
Painless Payment – Can corporate cards contribute to a great travel policy?
The use of payment methods other than corporate cards is a pain point for travel managers, travelers and Travel Management Companies (TMC) alike. For the former, it makes tracking expenses more difficult; and for the latter it means wasted time in filing receipts. For the TMCs, spending time on admin tasks doesn’t add much value for customers – so all round, a lot of wasted time.
Travel Management Of The Future – 3-ways predictive analytics can transform your program
“If you can look into the seeds of time and say which grain will grow and which will not, speak then unto me.” Since the beginning of times, humankind has been obsessed with predictions. Fortunately, nowadays we don't need to rely on oracles or witches of any sort. We have powerful algorithms that allow us to predict the future and even change it.
CWT Solutions Group predicts air travel prices to drop in the next two months as oil prices tumble
Average ticket prices (ATPs) for air are forecast to drop globally in November and December following a sell-off in oil prices in mid-to-late October, coupled with traditionally slower months for business travel around the holidays that is expected to dampen demand.
Digging For Gold – Revealing unmanaged expenses
If you have been in travel management for a while, you have probably redefined your travel program to a state-of-the-art level - trimming traditional travel expenses like air, hotel and ground transportation to perfection. However, are you sure you are getting the full picture of your travel and expenses (T&E) spend and supplier usage?
12 top tips for negotiating business travel
Our Global Travel Forecast shows that travel prices are expected to rise sharply in 2019. Hotels are up 3.7%, and flights up 2.6%, driven by a growing global economy and rising oil prices. The only respite will be ground transportation, which remains flat.
As negotiation season approaches for travel buyers, there is a lot at stake, so we have gathered twelve top tips from our key experts to he
Let's Chatbot: Can AI revolutionize your travel program?
Artificial intelligence — and its growing list of uses — continues to improve life for consumers. Those same advances are also making life easier for corporate travel management programs, travel managers and travelers.
With AI applications such as machine learning, chatbot programs and natural language processing, travel management companies (TMCs) have an opportunity to rapidly advance the cor