McKinsey & Company

Op Ed: Norm Rose On Attacking Corporate Travel Pain Points With Web3 And Smart Contracts

Travel technology consulting veteran Norm Rose urges a push for smart contracts to improve the efficacy of negotiated corporate travel agreements. Emerging as the next generation of the internet, Web3 has a broad definition. It includes virtual reality in the metaverse, blockchain, token-based economics and decentralization of technology. For the corporate travel industry, the focus…

McKinsey Challenges Airlines To Make Corporate Discount Programs Worthwhile

To engender loyalty, improve client performance and ensure that deals with corporate accounts generate incremental value, airlines need better data and new thinking on tailored discounts and service add-ons, according to McKinsey.  As it is, some airlines “struggle to quantify” the impact of individual client relationships on route profitability, a McKinsey spokesperson wrote by email…

How B2B Businesses Can Get Omnichannel Sales Right

“Buyers want it; sellers need it,” according to Harvard Business School professor Doug Chung, McKinsey & Company partners Isabel Huber and Jean-Charles Devignes, and McKinsey associate partner Tom Clauwaert. “It’s not trivial, but it’s not rocket science either.” During the early stages of the pandemic, many B2B companies considered remote interactions as a temporary patch,…

Amex GBT Claims ‘Highest’ Net Promoter Scores Based On McKinsey Survey It Won’t Share

Among the materials made public last week by American Express Global Business Travel was a chart showing how the Net Promoter Score for Egencia and Amex GBT exceeded those of some key rivals, in some cases by quite a bit. GBT didn’t conduct the study; McKinsey & Co. ran it in July and August for…

Management Highbrows Bid Adieu To The ‘Road Warrior’ Mentality For Business-To-Business Sales

Old habits may die hard, but they’re no match for a pandemic. According to consulting firms like Bain & Co., travel for business-to-business sales is at risk as organizations, at long last, overcome inertia to tackle a challenging but profitable transformation to virtual selling. Recent research suggests that B2B buyers and sellers are more comfortable…

McKinsey To Corporate Travel Managers: Seek Insights On Resuming Travel From Intermediary Data

McKinsey & Company on Wednesday published its latest assessment of the “comeback of corporate travel,” and it’s not bad. That is, the evaluation neatly summarizes many of the pandemic-driven issues corporate travel leaders are grappling with, and the outlook isn’t the end of the world. The management consultancy sees 80 percent of 2019 volume coming…

McKinsey Highlights Travel As Poster Child For Outsourcing

In a November paper that otherwise favored optimizing indirect procurement over outsourcing it, McKinsey & Co. suggested companies consider outsourcing travel procurement. It’s debatable whether outsourcing purchasing in indirect categories such as travel saves money. Nevertheless, some industry pros figured current cost pressures in certain industries would prompt more companies to look at outsourcing travel…

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