This week Anne-Marjut Väänänen, our country manager in Finland, participated in the Finnish Business Travel Association (FBTA) event in Helsinki. Anne-Marjut held the opening speech about reporting and indicators in the travel industry. Continue reading for some of the key takeaways.
One size fits all is a myth and doesen't work in reality. Every company needs to focus on creating reporting of their own based on strategy and specific needs. It’s important to focus on having a reasonable number of indicators that remain the same and adding, according to needs, indicators that may vary from time to time.
Keep your data relevant and up-to-date – otherwise your decisions are penniless. Also, it is crucial to understand who you are reporting this data to, in order to create a clearly understandable form for the reader. After all, communication is key to guarantee an overall understanding within the organization. If your communication fails, no change is possible when it comes to savings and/or behaviuors.
The world is changing rapidly when it comes to new distribution capabilities (NBC), multiple booking channels and for example ancillary products. These also affect reporting and create new needs on all ends: company, air/hotel/car/rail provider, travel agency, corporate payment provider and expense management system provider.
What does your company’s future look like from a travel management reporting perspective? Take the lead! It’s much easier to control the future and give guidelines accordingly when you are the conductor, not the organization.