Program Framework: Consolidation, Cost Management, Compliance
Working with more than one Travel Management Company (TMC) can be challenging when it comes to data consolidation and cost management for any travel program.
In 2017, FCM Travel Solutions was appointed and tasked to consolidate and streamline Lagardère Sports’ travel program for all travellers to drive cost savings and efficiency.
- Cost savings: Within seven months of implementation, Lagardère Sports saw an overall reduction in travel spend. Through their program consolidation with FCM, Lagardère Sports managed to reduce its transaction fees to approximately 2% of their total travel spend compared to the initial 4%. By taking on an active role in policy compliance and offering Lagardère Sports access to FCM Global Fares, FCM also delivered additional cost savings close to S$60K (approx. $300K CNY) during the first seven months.
- Air procurement: Based on the review of Lagardère Sports’ air program, FCM identified another airline that is of the same standard as their preferred and savings up to S$12K (approx. $60K CNY) was recorded for a single route. FCM also proposed and helped to secure multiple routes based on the travel pattern and data collected to maximise the potential mileage of the alternative airlines. This has also provided the travellers with more flight options and competitive airfares.
- Greater visibility: FCM monthly report generated from our global reporting tool, FCM Reporting & Analytics, provided full visibility of their travel spend. It also enabled the Account Manager to identify opportunities, missed savings opportunities and make recommendations for greater travel management efficiency and savings during the quarterly reviews.