Carlson Wagonlit Travel (CWT) launched the CWT Travel Consolidator, a new analytics tool designed to give travel managers a clearer picture of an organization’s travel and expense spending, allowing them to make better decisions and save clients money.
“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,” said Christophe Renard, vice president, CWT Solutions Group. “CWT Travel Consolidator gives you that visibility–and can save up to 7 percent on travel costs.”
A CWT-sponsored survey by the GBTA Foundation revealed that 64 percent of travel managers said they don’t have enough data to calculate the total cost of a trip. In addition, nearly three-quarters, 73 percent, reported that they struggle to reconcile differences in reports due to data formatting. Fifty-eight percent said they spend too much time reconciling and cleaning data. The CWT Travel Consolidator is designed to address these concerns.
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The web-based platform combines air, hotel and ground transport transactions booked through the TMC with credit card, expense, and HR data. With all of this information combined together, travel managers can better identify hidden costs of business travel and off-channel spend, enabling travel managers to find missed savings opportunities, improve compliance and increase organizations’ negotiating power with suppliers.
CWT Travel Consolidator also cleans up data, making it easier and more accurate for travel managers to use. The integrated data provided also gives valuable information on spending outside official channels. This gives travel managers a better idea of how much is spent on flights and hotels booked on personal cards and poorly understood costs like airline seat selection charges, meals, laundry, and incidentals.
The CWT Travel Consolidator can find these hidden costs and analyze them to ensure that travel policies are working and appropriate.