For mid-to-large-sized companies, an effective travel policy can save hundreds of thousands of dollars each year. By carefully outlining the processes and vendors that employees use to book and expense their business trips, travel managers can negotiate discounted rates, control reimbursement requests, and ensure that the company always receives the best deal possible.
Unfortunately, employees don’t always stick to the plan. Sometimes there are emergencies that call for unique travel solutions, other times employees simply forget the rules of the policy. Either way, out-of-contract bookings cost firms money that their travel managers have gone to great lengths to conserve.
With Domo’s new Travel Leakage Analyzer app, travel managers can track noncompliant bookings in real time, empowering them to better understand — and ultimately reduce — employees’ wasteful travel spending.
Travel Leakage Analyzer offers a bird’s eye view of compliant and noncompliant spending.
Rather than investigating each transaction individually, travel managers can use Travel Leakage Analyzer to establish a real-time visualization of their air, hotel, and automobile bookings.
The app automatically pulls data from Christopherson Business Travel’s AirPortal platform and financial systems like Concur, NetSuite, and QuickBooks. As a result, you can easily see how much you’re spending on travel over a given time period, as well as the percentage of spending that’s being made on non-compliant bookings—otherwise known as “leakage.”
The app’s interactive visualization tools allow travel managers to ask questions of their data and dig deeper into employee spending. Using this drill-down functionality, companies can be as granular as they need to be, allowing them to see the entire compliance picture.
Improve travel policy compliance and drive added savings.
Once you have a clearer picture of where your leakage is coming from, you’ll be able to make a number of intelligent business decisions to optimize your company’s travel booking process.
First and foremost, you’ll be able to tell exactly how much money you’re losing every time someone makes a non-compliant reservation. You’ll also soon know how much money you can save by improving travel policy compliance.
From there, you can start making changes. For instance, if you see that employees are frequently booking hotels out of policy, you can take action by holding meetings to remind people of your company’s rules governing overnight travel. Or you may decide to give employees more flexibility by adding new hotel partners to your policy. These are just a few of the options made available by the app’s real-time data visualizations.
Indeed, Travel Leakage Analyzer gives you all the insight you need to discover where and how non-compliant bookings are slipping through the cracks. It’s up to you to decide how to plug the leaks.