Oakwood Saves Consulting Clients Over 20% on Business Travel

Co-workers at a conference table

 

The Situation

January through April is considered the busy season in the consulting industry, particularly for auditors and tax professionals. This often involves frequent travel to support their clients. These trips must adhere to specific travel policies, which are designed to ensure:

  • Cost containment, by booking negotiated rates with approved vendors
  • A comprehensive Duty of Care program, by working with vetted suppliers
  • Improved employee morale and work-life balance, through access to comfortable, home-like accommodations

The Challenge

As the result of an increasingly competitive landscape, consulting firms were more focused on cost savings and finding efficiencies within their corporate travel programs — while also improving employees’ travel policy compliance. Oakwood was able to help our consulting clients in each of these areas while supporting the evolving lifestyle needs of their business travelers.  

The Solution

To help save costs, we:

  • Analyzed travel data to ensure our offerings were aligned to budgets
  • Collaborated to customize effective, cost saving solutions in the clients’ top-traveled markets
  • Leveraged our expansive global accommodations network to offer more choices at more price points

To encourage program compliance, we:

  • Provided in-depth, customized reporting to give clients visibility into traveler and market trends
  • Developed targeted marketing campaigns to promote employee awareness of our offerings
  • Educated travelers on the potential risks surrounding shared economy accommodations

To support the lifestyle needs of our clients’ employees, we:

  • Performed a root-cause analysis of consultants’ housing requests to better understand the factors shaping their preferences and priorities
  • Mapped the most commonly assigned project locations to strategically source property offerings that would complement their lifestyle needs

The Results

Through consistent collaboration and in-depth analyses, we were able to optimize clients’ programs to achieve cost savings of more than 20 percent in their top traveled markets, while simultaneously increasing compliance within their travel policies. After using research insights to tailor our offerings, we saw guest satisfaction rise to 96 percent, up from 93 percent the prior year, reflecting better support of employees’ lifestyle needs.