2009 Business Travel Industry Forecast

BCD Business Travel white papers provide valuable perspective on the issues and challenges in and around the corporate travel industry.

Our forecast draws on our extensive global knowledge of the corporate travel industry and world markets and offers our look ahead to next year to ensure you have the information to thrive in a constantly changing business travel environment.

2009 Industry Forecast Update

As foreseen late last year, Advito has updated its Industry Forecast for 2009 based on economic and industry developments during Q4 2008. This update is prompted by ongoing macroeconomic and industry volatility, and is designed to assist business travel executives in navigating complex corporate travel program management scenarios.

The revisions are grounded in the analysis of BCD Travel’s global client transaction data, macroeconomic indicators and direct feedback from the sourcing engagements for air, hotel and car program negotiations that Advito conducts on behalf of its clients.

The update is found at the end of the original 2009 Industry Forecast available in the free download below.

For more corporate travel / business travel industry forecasts visit the BCD travel website.

BCD Travel And Business Travel Online Booking Tools In Asia Pacific

BCD Travel has identified a wide variation in the degree of success achieved by corporations in Asia Pacific as they adopt online booking programs. Companies typically decide to introduce online booking tools in order to better manage business travel costs and improve productivity for staff, while strengthening travel policy compliance and effectiveness, notes BCD Travel. Yet unclear corporate program objectives and inadequate assessment of internal and external barriers can impede the usage of these technology tools and at times lead to disappointing adoption results and higher costs to the corporate customer.

BCD Travel has developed a set of guidelines which its corporate travel customers use as they prepare to launch an online booking program or to enhance an already existing online program. Roger Pfund, general manager and vice president, Asia Pacific Operations, says, "Objectives for moving a travel program online vary by customer. We know that not every customer program is the same, from the initial launch objectives to program maturity. Not surprisingly, the 'one-size-fits-all' approach just doesn't work when it comes to implementing an online booking platform and driving adoption."

"Consequently, we have developed an approach that draws on our experience in Asia Pacific and from lessons learned from our extensive online experience in other regions where BCD Travel operates, to help a customer better understand, plan and execute a successful online program. An online program must harmonise with a corporation's overall travel program objectives, and be supported by a detailed framework that improves the success of adoption and meets efficiency goals," says Pfund.

BCD Travel has identified a number of key tactics that a corporation should undertake as it considers an online booking program:

1. Apply a readiness assessment to evaluate whether the company's travel program maturity and corporate culture are conducive to an online booking environment.

2. Consider the overall travel program objectives and determine how moving online meets these objectives.

3. Ensure the company has a formal change management process in place to facilitate the online adoption growth rate

4. Determine whether travel suppliers in the markets to be included distribute content which is easily accessible on the online booking tool

5. Consider the limitations of various online booking tools and identify the one that best suits the company's business practices

6.Decide whether the online adoption strategy is realistic and will meet the business travel program objectives

According to Pfund, "Moving to a successful program requires the support and investment from many key stakeholders and we assist our clients in more realistically identifying and setting their expectations. Going online is not an end in itself, but rather a means to lower program costs, increase compliance to travel policy, better utilize preferred vendors and sustain higher levels of user satisfaction and productivity."

BCD Travel simplifies and streamlines the business travel process, helping companies manage and control the movement of their people, information and resources. The company focuses on implementing an integrated, seamless technology platform throughout all global locations to provide full access to and analysis of travel data for its clients. Clients can take advantage of BCD Travel's presence and technology infrastructure to track every trip, every traveler, and the costs incurred throughout every journey.

Australian business' seek help with business travel

In 2009, leading travel management company (TMC), BCD Travel, is expecting to receive more enquiries from new business travel clients who are now realising the value in attaining professional business travel management for their companies.

The larger the company, the greater the benefit in professional business travel management services, especially for those companies with scores of offices nationwide and hundreds of employees.

The benefit of using a customised online booking system and being able to track which staff members are booking business travel is an invaluable first step in helping a company reduce its business travel outlay, according to BCD Travel Manager, Stephen Finlay.

Following this, there are a host of other long-term benefits that significantly outweigh the cost of outsourcing corporate travel management:
• Your company will have stronger controls on the business travel purchasing process
• Tailored technology tools such as BCD Travel’s business travel booking system means your company can customise its profile on the booking system and enforce restrictions
• Full reporting is available to managers so that staff bookings can be tracked
• Greater efficiency and ease when booking corporate travel and accommodation online
• BCD Travel is able to locate its corporate travel clients anywhere in the world at any time to provide immediate assistance in the event of a terrorist attack or similar crisis
• Spend tracking means business travel clients can negotiate better deals for themselves with their preferred suppliers, such as hotels, due to their documented corporate travel expenditure.

Cutting corporate travel costs

In today’s economy, demand management in relation to corporate travel is a hot topic. Leading travel management company (TMC), BCD Travel, offers the following tips for companies looking to reduce their corporate travel costs in 2009.

1. Assess your spending - monitor reports provided by your corporate travel agency showing your business travel expenditure, along with the names of staffers who are booking trips
2. Reduce the number of corporate travel trips your staff take by investing in technological solutions, where possible, such as online booking tools
3. Adjust the rules regarding flight seating and restrict business and first class seating to long haul flights
4. Choose domestic locations instead of international locations for meetings incentives conferences exhibitions (MICE)
5. Shop around or re-negotiate any preferred supplier deals you have in place with airline carriers and hotel chains
6. If you don’t have a business travel agency, it might be time to get one! A professional travel management company (TMC) can help you build and enforce a business travel policy that fits you budget and business goals. If you would like to enquire about BCD Travel’s corporate travel management services, please contact BCD Travel.