Travel Management Programs: The Value of Goal Setting

Covington utilizes the Travel GPA goal setting and benchmarking tool to assist companies with setting goals for their travel program, and tracking performance to goal on a monthly or quarterly basis, using a series of key performance indicators (KPI’s).

Companies have easy access to actionable data, allowing for travel policy and compliance improvements that impact the bottom line. Individuals responsible for the management of corporate travel budgets have instant access to how well their travel policy and program perform when measured against policy compliance and thousands of companies in the Travel GPA+ benchmark database.

Covington’s Account Management Team will meet with you to review company’s goals and upload all monthly travel data to a secure website.  Travel GPA also has a benchmarking component that allows comparisons of travel expenditures and companies of similar size, within similar industries or geographical regions. The following are some examples of the type of data that can be measured:

• Support of preferred suppliers (air, car and hotel)
• Advance ticket purchase
• Low fare acceptance
• Online adoption rates
• Compliance with preferred vendor programs
• Car type (size, vendor, etc.)
• Hotel tier (moderate, full or limited service, etc.)
• Hotel and car attachment rate

In 2010, a Covington business account wanted to increase the use of its online booking tool and increase adoption for a specific type of transaction. They used Travel GPA to set a goal, and monitor the transactions on a monthly basis. The tool allowed goal performance to be measured and adjusted if necessary based on current travel patterns. The company reached the goal and continues to use Travel GPA to monitor overall program performance.

For more information regarding Travel GPA, or any of our reporting tools, please contact the Corporate Services Department at 804.747.7077.