Home: Resources: Case Studies
Travel P&P Development Saves Company Millions

		Related Service Offerings
		·  Process Reengineering
		Related Areas of Expertise
		·  Travel Services
		EMS Can Help You...
		·  Benchmark Your Results ·  Improve Consistency

Overview:

The development of travel policies and  procedures laid the groundwork for a strategic overhaul of this financial services company’s corporate travel program, yielding millions of dollars in savings.

Client: 

The fourth largest variable annuity company in the nation, this company markets retirement planning and wealth protection solutions, such as annuities and life insurance, through strategic partnerships with financial planners, broker/dealers, stockbrokers and banks. 

Challenge:

As a component of an extensive travel department reengineering, this client hired Expense Management Solutions (EMS) to develop and implement revised travel policies and procedures that would accurately reflect the new travel philosophy, take full advantage of the electronic travel and expense system, and support the modified behavior required of management and travelers in order to ensure the success of the initiative.  This was complicated by the existence of individual business unit policies, a historical lack of consistency in policy and practice, and a general culture in which policies were perceived as guidelines with no real consequence for violations.

Solution:

• Draft a comprehensive set of travel policies that address every aspect of travel, entertainment and g eneral business expenses. 
• Interview Representatives from each subsidiary participated in policy development and provide  feedback on specific traveler needs. 
• Use industry expertise and benchmark data to provide the foundation for developing best practice  policies and procedures. 
• Create communications programs to assist with notifying the traveling population of changes and  enforcing new policies.

Results:

• Ensured capture of the multimillion dollar cost savings achieved through contract renegotiations  implemented as part of the reengineering of the travel department.  
• Shifted responsibility to the traveler and the approver of expenses, allowing the travel department to  focus on developing vendor management programs and other strategic initiatives.
• Customized policies that were appropriate to a department’s specific needs yet were in keeping with  the overall corporate policies.