The complete guide to business travel analytics
Reporting that provides total visibility with insights that help you win.
It’s time to talk business travel reporting and travel analytics
When it comes to corporate travel management, there are plenty of moving parts. From making sense of your travel spending, to making sure your business travelers are safe while they're on the road, it's a big job. But it doesn't have to be a daunting one.
Thorough, customized business travel reporting and analytics are essential to protect your company’s bottom line. Through data-driven insights, you can identify trends in travel spending patterns and traveler behavior – enabling you to make decisions that will optimize the future of your company’s travel.
But how? Well, the most important thing is that you don’t have to do it on your own. Consolidating your travel operations under a single vendor streamlines data collection for reports and travel analytics that are as detailed as you need (or don’t need).
We're a Travel Management Company (TMC) that has been helping small to mid-sized organizations with their business travel for decades. In that time, we’ve learnt a thing or two about travel reporting and analytics. Ready for your next move? Talk to us now, or just keep reading.
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Understanding business travel analytics and reports
Corporate travel reporting is not a one-size-fits-all endeavor. Each business has its own goals to meet, and they need the right data and travel management software to get them there.
Our business travel analytics and reporting tool, Melon, comes with pre-built reports that can be easily reconfigured to only show you what you need:
- Travel and expense reports: Know exactly where your money is going so you can quickly identify areas where you can save money and make informed budgeting decisions that will affect future business trips.
- Compliance reporting: These reports improve business travel performance by helping you identify deviations from established policies by monitoring travel activities and expenses.
- Carbon reporting: This type of business travel report allows you to track your travel program carbon emissions and environmental efforts.
- Traveler tracking: Keep an eye on safety concerns for different destinations. This makes sure you don't send travelers into health hazards or social/political unrest areas.
Managed vs. unmanaged travel
Companies approach business travel in one of two ways: unmanaged or managed.
Unmanaged travel
Often referred to as DIY, unmanaged is when an organization handles its own business travel needs in house. Travel tasks and responsibilities, such as managing data and reports, are typically delegated to a travel booker, manager, or even an internal HR representative (sound familiar?).
Unmanaged travel is often tacked onto a team member's regular duties and leaves them to navigate reporting and business travel analytics through multiple programs. It can be overwhelming, and time-consuming.
Managed travel
On the other hand, managed travel refers to any business travel that is supported by the travel management software and/or expertise of a TMC and experienced travel managers. Not all TMCs give you the best of both worlds, though.
For example, with us you can look, book, and report on all your travel needs from one platform. Since every business’s needs are different, we pair that with a dedicated team to help you identify data, business travel analytics, and reports that you can drill down to the most important metrics.
What's in the best interest of your travelers and your company's bottom line? Let's dive into:
- Travel policy and bookings.
- Trip approval processes.
- Preferred suppliers and travel technology.
Five key benefits of great reporting
Reporting is more than just navigating numbers – it’s a lever for growth. From consolidated data to predictive analytics, you'll stand to gain insights that drive efficiency, cost savings, and sustainability.
Here are all the reasons why you need great reporting.
1. Turning business travel analytics and insights into action
Predictive analytics allow for proactive decision-making, while analysing travel patterns and compliance ensures policies are effective.
Businesses can make accurate forecasts and actively shape their travel policies by leveraging the insights gained from robust travel reporting tools. It also helps negotiate better deals, ensure travel policy compliance, and most importantly, improve the overall travel experience for their employees while optimizing costs and efficiency.
2. Measure the effectiveness of your policy
A common challenge companies face with their travel programs is booking leakage, where employees make travel bookings outside the approved channels.
With consolidated travel data, you can more effectively monitor travel by identifying and targeting booking, supplier, or channel leakage – and even find opportunities to improve your travel policy.
Combine your reporting with data analysis from our business travel experts for more valuable insights.
As a global leader in developing, manufacturing and marketing polyolefin staple fibers, FiberVisions is always looking for ways they can improve their business. Their travel programme was one of them and we helped them achieve a 12:1 ROI. Not too shabby.
Want to see how we helped them do it? Read on.
3. Simplified expenses and budgeting
The cornerstone of effective reporting? Budget management. Comprehensive expense reports are the key to understanding where the travel budgets are allocated and to make sure that expenses align with corporate objectives.
The bottom line is to ensure finance teams know exactly where money is being spent—and where they’re overspending.
4. Ensuring traveler safety on business trips
Get a precise view of who is on the go, where they are in the world, and how they’re getting there.
A comprehensive business travel analytics tool serves as your vigilant companion. It equips you with real-time safety information from hotels and flights, and delivers alerts should a concerning event arise.
This proactive approach empowers travelers and travel managers alike to make informed decisions and take necessary precautions while on the road.
5. Measure your sustainable travel
From departure to arrival and everything in between, Melon will calculate the end-to-end carbon footprint and impact of your journey in real-time. Get access to personalized CO2 emissions reports that measure the impact of your business travels in real-time.
Our reporting dashboard can help you make informed choices for any journey with on-demand tracking, no matter your mode of transport.
With business travel data at your side, you can keep an eye on safety concerns for different destinations. This ensures you don't send global business travelers into health hazards or areas of social/political unrest.
Pest management product firm Pelsis Group is on a mission to have a more sustainable travel operation and offset their flights. With the help of Corporate Traveler and partner Trees4Travel, the group is on its way to a more carbon-balanced program.
Check out the Pelsis Group story.
It's time for better business travel management
With the perfect balance of modern travel technology and dedicated experts, you really can have the best of both worlds.
- Dedicated travel consultant
- Intuitive all-in-one travel platform
- Search, book, and report in minutes
- 24/7 emergency support & live-chat
- Traveler tracking & duty of care dashboard
- Melon Exclusive Deals, negotiated rates, and more!