Freedom Travel Corporate Alliance(FTCA) is, simply put, an on-line booking platform that gathers, compiles, and funnels employee travel details and expenses to the appropriate manager, administrator or CFO. This data is merged into dozens of reports essential as a management and monitoring tool, for budgeting and forecasting purposes, as leverage for collective buying power, and much more. The framework is unique in that each company sets up special criteria (based on their Travel Policy) used to guide the traveler and limit them to the corporate, cost-effective choices.
6 Reasons to Implement FTCA
- I remember vividly a day in 1986 when a man walked into my office trying to sell me a machine that would transmit information on a piece of paper to anther office in less than a minute. It was a FAX machine, and naturally I rejected. I learned later that the value was not directly in cost savings, but in efficiency.
- Until the 1970’s or so, the most common accounting system was the General Ledger. Then came along Peachtree. Again, the value was efficiency first and the cost savings followed.
- DATA COLLECTION
- This on-line reporting tool automatically collects data such as,
- cost of air, hotels, rental car, rail, car service
- number of days spent traveling/by employee/by department
- vendor statistics
- unused airline tickets
- and much, much more
- Then sifts, sorts and funnels information to a selected team such as CEO, COO, CFO and/or Sales Manager. Data Collection is most useful in:
- MANAGEMENT CONTROL
- This collected data is a valuable tool in developing and managing a sales team. For example, the dollars and time spent traveling for one sales rep can be compared to their gross sales—simply put, the system can document the ROI for a single employee or the entire department. Efficiency = Savings
- The criteria outlined in the Travel Policy will be imbedded into a custom-designed platform unique to each company. The platform will guide employees to make bookings in alignment with the company policy, such as: which hotel chain, car rental agency, or airline to book with—also, you can set limits on class of car reserved, and/or cost per night hotel stay. The value of monitoring not only saves the company money, but guides traveler into making right choices.
- “Duty of Care” is the legal term to describe a company’s responsibility for the wellbeing of its employees. With FTCA you know where your employees are located and can provide assistance at all times, especially in an emergency
- CONTRACT LEVERAGE
- Months of collected data, reviewed and analyzed, provide a valuable opportunity for FTCA to renegotiate vendor contracts, on the company’s behalf, for better price and terms.
- COST SAVINGS
- Your company will have access to agency & consortium negotiate rates
- Each one of the benefits above offer direct and indirect savings to the company.
All of these reasons can be summarized in an invaluable old adage, Knowledge is Power.
Call Annie to learn more about how this platform can help your company.
Alexandria, LA 71301