PredictX’s CEO, Keesup Choe, recently attended GBTA’s 2021 Mid-Year Virtual Summit and Annual Business Meeting to uncover the travel industry’s recovery plans and success strategies – following the COVID-19’s recent effects on the sector. At the event, Keesup was joined by Tina Quattlebaum, Director at Pfizer, and Alicia King, Category Manager for Global Air, Ground Transportation, and High-Risk Travel Services at Chevron. Together, they shared their experiences with travel bans, inventory challenges, shifts in travel patterns, policy changes, and travel budgets.
As a panel moderator at the event, Keesup explored the dependencies involved in a budget discussion, including the return to offices, traveller safety and policies.
“We all look forward to when corporate travel resumes,” Keesup added, “But we also know that some travel managers have faced some phenomenal threats as organisations have cut down on travel and plan to make more cuts in the future.”
Tina explained this further by saying, “Currently, there is a process in place to redefine the framework around what is considered purposeful travel, including budget allocations. We want to give our colleagues the tools to empower them to make sure their travel bookings align with the company’s evolved policies and strategies, including risk and safety considerations and carbon footprint.”
Alicia added, “This year has been an unknown for many companies, but we learned to maintain a constant dialogue with stakeholders and reinvent what travel means for us.”
Both panellists agreed that the key to staying on top of the changing environment is to trust what’s emerging from the data and use it to find ways to save costs and realign travel policies. One way to do this is by distributing an informative travel infographic to all stakeholders.
Alicia says Chevron is already using this strategy. “Our monthly infographics show us the breakdown of total travel spend categories and our compliance with preferred suppliers, hotels and low-cost strategies. It also shows us if we are utilising our online booking tool, booking in advance, and taking advantage of lower-cost airlines.”
It’s a great way to give everyone an easy view of what is happening with the company’s travel spend every month and outlines areas of opportunity to reduce costs. But creating an exciting way to display data and context has always been a challenge in the travel industry. Data reports don’t necessarily tell the whole story using visuals alone – a narrative is needed alongside the visuals to offer clear and concise information.
This is why PredictX offers a unique product called The Story. It is a smart system that pulls information from the PredictX Data Suite, adds contextual written information, and delivers the data in automated reports emailed to – and personalised for – any business executive throughout the company.
The Story maximises strategic engagement and delivers bespoke business intelligence to stakeholders, providing access to spend, risk and policy compliance data for their own department. To find out more about how The Story works, get in touch with us for a demo.