Miami — Managing travel should generate at least 8 percent to 20 percent in reduced spending. The offsetting cost to achieve that should be 4 percent to 7 percent. Sourcing a travel management company to support all that should take seven to 21 months. Sadly, implementation fails seven out of 10 times.
These are some rules of thumb for travel management company contracting presented here last month by Corporate Travel Buyer Resources managing director Donald Swartz at the Institute for Supply Management's T&E 2016 conference.
Why such ranges? The . . .