How simple strategies saved 61% on Diadem's average domestic airfare spend. A great demonstration of how bringing a travel expert on board delivered immediate savings.
Diadem’s travel challenges
Diadem’s team wanted to cut business travel costs without cutting their travel. The company was not using a formal travel policy and had no access to an online booking tool. Instead, internal bookers relied on last minute fares and rates from third party websites to make travel arrangements. The combination of these factors meant Diadem was significantly over-spending on corporate travel.
A professional solution
Corporate Traveller’s first step in eliminating Diadem’s unnecessary spending was to implement a travel policy focused on advance purchase of airfares and best fare of the day (BFOD) strategies. To cut time spent on making bookings and increase policy compliance, Corporate Traveller gave Diadem access to the Selfbook online booking tool. Diadem’s accommodation policy was also overhauled to introduce tightly controlled hotel rate caps and take advantage of previously unused corporate specials.
The bottom line
By utilising a formal BFOD guideline, Diadem employees immediately boosted savings by selecting more cost effective fares and expanding their choice of airlines. Additionally, from analysis of the company’s regular travel behaviour, Corporate Traveller illustrated the bottom line benefit of booking five to seven days in advance rather than last minute. The combination of BFOD and advance purchase has formed the cornerstone of Diadem’s current travel policy and saved the company an average of 61% on domestic airfares and 62% on international airfares for the 2011/2012 fiscal year. The company has also reduced the number of premium airfares purchased by 26%.
We have had a positive ongoing relationship with Corporate Traveller for the past 10 years. During this time we have had only two different people managing our account. The service provided by Tamara Annesley and her colleagues is excellent. Corporate Traveller put together a management plan to lower our spend along with the online tool for direct bookings. This, along with a new Diadem travel policy, ensures our travel spend is much more economical. We have had other travel company proposals over the years but have chosen to stay with Corporate Traveller. Julie Chiminello // Diadem