The travel management community is not taking full advantage of data available to measure the true return on investment of a business trip.
Research from ACTE and BCD Travel reveals that despite the annual $1.3 trillion spend on corporate travel, the metrics currently used do not effectively determine the success of a trip.
According to the Quality Management in Corporate Travel report, travel managers are using different factors such as spend and savings data and booking statistics to measure the ROI and the approach has not changed for decades.
While 87% feel its important to take traveler friction and wellbeing into account, only about 21% say they are using it as a metric.
Furthermore, traveler engagement with a travel management company or travel department is used by 37% but seen as important by 90%.
The study says that with spend forecast to rise to $1.6 trillion by 2020, the industry needs to follow the lead of other sectors such as retail and focus more on measuring the customer/traveler experience.
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One proposal put forward by the report is that a standard be created for measuring trip success but it also acknowledges the complexities involved with different needs, spends and volumes.
It also suggests that taking more advanced metrics into account would not only improve the traveler experience but help demonstrate the value the travel management community provides.
The ACTE-BCD study is not the first time the industry has been called upon to look at how less tangible elements might affect travelers with Capita Travel carrying out research last year on the human impact of travel.
The Smarter Working approach aims to dig deeper into insight on traveler to look at why travelers make certain buying decisions.