2004 Corporate Travel Card Benchmark Survey

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2004 Corporate Travel Card Benchmark Survey Visa Commercial Solutions2004 Corporate Travel CardBenchmark SurveyStreamline your travel expenditure process and make the most of your travel card.How does a typical organization use A comprehensive look at how organizations use their travel cards.travel cards today? In 2004, a broad spectrum of organizations, including Visa Issuers and their clients, On average, a company gives travel cards to 23% worked with RPMG Research Corporation to develop a detailed portrait of the value of its employees and uses those cards to capture over 70% of its travel spending.that travel card programs deliver. Over 700 companies that were customers of one of 14 major commercial bankers or members of the National Business Travel Association took part. And what is the most important travel card feature?The survey provides valuable insight into how different sizes and types of companies“Global card acceptance” is far and away the mostare using travel cards to achieve organizational and cost efficiencies. In particular, important feature of the travel card. the study looks at the goals and policies that help to drive travel card program suc-cess, and at the many characteristics of high-performing programs.How does your travel card program compare? The 2004 Corporate Travel Card Benchmark Survey Results brings together a broad array of findings and insights to help you find out. “The use of electronic expense reports ...

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• Publié par: Shiom
• Nombre de lectures: 35
• Langue: English

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2004 Corporate Travel Card Benchmark Survey

Cor TravelCard Benchmark Surve Streamline your travel expenditure process and make the most of your travel card.

comprehensive look at how organizations use their travel cards.

In 2004, a broad spectrum of orincludin VisaIssuers and their clients, orked with RPMG Research Corporation to develop a detailed portrait of the value travel card prodeliver. Over 700 companies that were customers of of 14 major commercial bankers or members of the National Business Travel Association took part.

The survey provides valuable insiht into how different sizes and types of companies are usintravel cards to achieve orand cost efficiencies. In particular, study looks at theand policies that help to drive travel card prosuc- and at the many characteristics of high-performing programs.

How does your travel card pro Benchmark eyResults brin o help you find out.

compare? The to ethera broad array o

e Traveld and insi

“The use of electronic expense reports pre-populated with travel card data  is associated with a 56% increase in processing efficiency and an over  40% decrease in the cycle time to reimburse expenses.”*

*Source: 2004Corporate Travel Card Benchmark Survey Results.

Commercial Solutions

How does a typical organization use travel cards today?

avera e,a companyes travel cards to 23% of its employees and uses those cards to capture over 70% oits travel spendin.

And what is the most important travel card feature? l lr acceptance”is far and awathe most im tantfeature of the travel card.

ravel card spend benefits add up

expected to r

— and travel card

Of the93 billion that researchers estimate North American companies spend on vel eachear, somebillion is captured on travel cards. Over 83% of surve participants expect this number to increase over the nexte years. Accordinto participants, key drivers of this increase are likely to include theeater conve- nience, enhanced travel spendindata, and other benefits that travel cards deliver. e dlessof these drivers, the report estimates that annual travel spendinwould ease almost 23% to $147 billion if “low capture” organizations simply adopted policies and procedures similar to those used bthe majorito companiessurve ed.

Beyond enhanced data and increased convenience, companies can derive other, substantial orand cost efficiency benefits from their travel card pro- For example, a full 39% of companies surveyed report that they routinely use travel cards to negotiate lower prices with their suppliers, reducing their travel budgets by an average oas a result. In addition,7% orespondents use travel cards to help eliminate petty cash accounts, saving an average offor every such request theeliminate.

Find out what hiperformin prohave in common. Among the most successful travel card-using organizations, key similarities rise to e more likely to support their programs with: a hilevel of top manaement support, a more liberal travel card distribution , and sihi levelsof spendinat the individual cardholder level. travel card policies and procedures distributed to employees, mandatory initial trainin forcardholders, and onmethods for communicatintravel card ogram changes and updates. creative ways to exploit the card’s usefulness, such as by integrating card use into cost reduction and vendor management priorities, using expense management and travel card technology, and adjusting business processes to encourage card use. automated expense reporting system and bar coding technologyor expense eport trackin

Request more information on the 2004 Corporate Travel Card Benchmark Survey by simply contacting your Visa Member financial institution today.

© VisaU.S.A. Inc.

Capture more transactions electronically. percenta eof spendincaptured on travel cards is hihest (about%) when distributes its company travel d widely and also mandates its use.

For information about other business resources from Visa, visit www.visa.com/commercial.

findings and statistics presented in this document are excerpted from thee Traveld Benchmark Survey. Survey results and related data are nt nor informational purposes only and should not be relied upon for marketing, technology, legal, regulatory, tax, financial, or other advice. The informa- t nn t ntendedto advise you of strategies applicable to your specific situation, but rather to highlight issues for your consideration. Therefore, you should consult our own advisors. Visa is not responsible for your use of the tools, studies, reports, and information, including errors of any kind, or any assumptions or conclun t at ouight draw from its use

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