CASE STUDY: Cost Savings with travel forecasting
Corporate Travel Management (CTM) delivers 14% cost savings through the adoption of innovative travel forecasting technology.
CTM’s proprietary travel forecasting technology saved a client 14% on domestic air travel by positively influencing the time of travel.
Read on to find out how.
The client, Challenger, is an ASX-listed Australian investment management firm and a CTM client since 2013.
Challenger was the first customer to implement CTM’s proprietary forecasting technology.
Challenger’s key objective was to reduce overall travel costs by improving the buying behaviour of their travellers and travel bookers at the time of booking.
The key objectives were to:
- improve the number of days booked in advance and fare category usage.
- drive preferred supplier usage.
- more closely align staff travel behaviour to company policy.
Prior to the development of CTM’s advanced forecasting technology, there was no technology available in the corporate travel market purely aimed at influencing buying behaviour prior to booking by highlighting the best day to travel.
With Challengers’ staff dispersed around the country, it was difficult to drive effective booking behaviour day-to-day, meaning inefficiencies were being seen as well as inconsistencies with travel policy adoption.
Challenger was the first client of CTM to implement CTM’s proprietary forecasting technology. These tools allowed travellers and travel arrangers to visualise the optimal day to travel for their desired route across multiple days in a single search – driving efficiency and cost savings to the business.
With the application’s user-friendly design and intuitive nature, deployment and take-up of the technology was rapid and required little to no training or persuasion.
"Partnering with CTM to implement their travel forecasting technology was a common sense decision"
- Challenger -
Challenger started seeing real results in improved booking behaviour just three months after adopting the new technology, resulting in direct improvements to the bottom line.