A new analytics tool built by Carlson Wagonlit Travel will help travel managers keep tabs on spend and expenses to save money, the global travel management company said.
CWT Travel Consolidator captures every part of an organisation’s travel and expense spend giving insight to travel managers so they can make the right decisions.
Christophe Renard, vice-president, CWT Solutions Group, said: “Gathering, matching and reconciling travel and expense data is challenging and it’s often hard to get the full picture of the total cost of a trip.
“CWT Travel Consolidator gives you that visibility – and can save up to 7% on travel costs.”
The web-based platform combines air, hotel and ground transport transactions booked through the TMC with a credit card, expense and HR data.
CWT said this can reveal the hidden costs of business travel and off-channel spend, enabling travel managers to identify missed savings opportunities, improve compliance and increase organisations’ negotiating power with suppliers.
The firm said data algorithms “consolidate, standardise and clean up the data, saving travel managers the time and hassle of having to fix inaccuracies”.
It added: “Having all their data on a single platform, with configurable dashboards and reporting capabilities, means travel programmes can be more efficiently managed with all card, travel and expense data integrated into one place.
“Integrated data also provides valuable information on spending outside official channels such as flights and hotels booked on personal cards and poorly understood costs like airline seat selection charges, meals, laundry and incidentals.”
CWT Travel Consolidator highlights these costs and also attaches them to the trips and travellers who incurred them.
Costs can be then be cut, reported and analysed by trip, cost centre, organisational structure, route, on vs off-channel, and supplier.