Carlson Wagonlit Travel, Singapore
Name of Organization / Company: Carlson Wagonlit Travel, Singapore
Category: Award for Innovation in Business-to-Business Products & Services
Entry Title: CWT AnalytIQs – The Groundbreaking Real-Time Business Intelligence Tool for Business Travel
In October 2015, Carlson Wagonlit Travel launched CWT AnalytIQs, the business travel industry’s first real-time business intelligence tool offering intuitive data reporting, industry benchmarking, traveler tracking, safety and security mapping and more.
Business travel is a significant area of expenditure for many companies -- most large global multinational companies spend tens or even hundreds of millions of dollars each year on travel. This makes it essential for companies to have clear visibility over their travel spend, so they can identify opportunities for savings while also gaining greater leverage in negotiations with suppliers like airlines and hotels.
A few of the key advantages of using CWT AnalytIQs are:
• Quicker data consolidation and reporting:
Prior to the launch of CWT AnalytIQs, data analysis and reporting for business travel was largely a manual process. Companies had to wait till the end of each month – and sometimes each quarter – to receive an Excel spreadsheet report on their travel spend.
The biggest change CWT AnalytIQs has made to the travel management landscape is that it has reduced the time it takes for companies to consolidate and view their data from 30+ days to 30 minutes. This is truly game changing. Corporate travel managers can now take action sooner and have faster visibility to their global data through a real-time data stream that continuously updates as each new transaction passes through the system.
• Broad range of data:
CWT AnalytIQs not only gives companies access to traditional travel agency data, but also many additional data sources like expense, credit card, supplier and traveler profile data, unused tickets and even off-channel bookings.
Examples of the data that companies can easily access using the tool includes:
o Top 10 city pairs that their employees travel between
o List of travelers who book out-of-policy (e.g. booking business class instead of economy)
o Average airfares and hotel room rates
o Spend with various airline and hotel brands
o Year-on-year variance in travel spend
• Industry bench-marking:
As one of the largest travel management companies in the world, CWT has among the richest data sets in the industry. With CWT AnalytIQs, companies can see their own data benchmarked against top industry performers and CWT client averages – so they can easily see where they could improve their own program.
• Making business unit heads accountable for their travel spend:
Previously travel spend used to sit exclusively with a company’s travel or procurement team. By bringing all data sources into an easy-to-use interface, CWT AnalytIQs is a tool that can be used by people who are not travel or procurement professionals. This has created a change in ownership, with each country / business function head responsible for their team’s travel spend.
As an example, in early 2016 one of our clients from the banking sector granted access to CWT AnalytIQs for over 50 of their CFOs from different countries and business functions. By the end of the year they were on track to achieve US$10m in savings year-on-year (approximately 15% of their total annual travel spend globally), with 99% more missed savings opportunities being taken compared with the previous year.
• Traveler safety:
CWT’s safety and security offering is also integrated with CWT AnalytIQs, to streamline crisis management processes, ensuring companies have the traveler data they need to keep their employees safe. Critical traveler security information appears directly on the tool’s home page, including travel alerts and traveler tracking tools to quickly pinpoint the specific locations of all travelers.
Currently, CWT AnalytIQs is available in six languages – English, French, German, Italian, Portuguese, Spanish – and used by around 10,000 companies worldwide, including many in Asia Pacific. In April 2017, CWT will introduce a Mandarin version of the tool for China’s business travel market.