Accenture Study Reveals American Express Business Travel Delivers Greater Total Trip Savings Globally Than Other TMCs.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- In Comparison to Other TMCs, Study Results Show American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Generates Greater Overall Savings Than the Rest of the Industry Research released today by Accenture, the global consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , confirmed that in side-by-side comparisons with clients of competitor travel management companies (TMCs), American Express Business Travel clients report achieving 19 percent greater overall savings for their travel and entertainment (T&E) investments as compared to clients of other TMCs. The comprehensive study, titled "Global Travel Management Study, Is There a Difference Between Travel Management Companies?" was a sub analysis conducted to examine the activities of 89 travel managers from around the world in order to identify and understand self-reported behaviors that lead to high-performance travel management and savings. When comparing travel management services worldwide in different travel categories, including airfare air·fare n. Fare for travel by aircraft. Noun 1. airfare - the fare charged for traveling by airplane fare, transportation - the sum charged for riding in a public conveyance , hotel and car rental spend, Accenture found that American Express customers achieve: --19 percent greater savings on air travel globally --13 percent greater savings on hotel spend globally --15 percent greater savings on car rental spend globally In addition to analyzing airfare, hotel and car rental spend, Accenture also studied clients' behaviors with regard to their TMCs' product and service offerings as well as how they leverage these services to optimize spend and strategically manage their travel program. Some of the highlights of these findings were: --Travel Policy Compliance: American Express clients reported 15 percent greater compliance to their air policies. --Online Booking Tool: Online travel booking usage was 44 percent greater than others studied. --Negotiated Air Discounts: Air discounts were 43 percent higher for American Express clients than others studied. --Consulting Services: American Express clients reported 17 percent greater usage of advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to help optimize their travel program. --American Express Corporate Card: American Express clients reported 17 percent greater usage of the Corporate Card for travel payments. "Our research shows a marked difference in savings between companies that leverage the full range of American Express Business Travel services versus other travel management companies," said Tim Gilchrist, Travel Services Partner at Accenture. "What we find is that by using a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. they have more control over all aspects of their travel activities and realize significant cost savings as a result. American Express is a clear leader in its field for companies looking to manage their travel spend in an integrated and effective way." Methodology The Accenture Global Travel Management Study polled 110 companies, and gathered insights on respondents' self-reported T&E management practices. The participants were travel managers from around the world, represented diverse geographic regions: the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Europe, Japan, Asia Pacific, and Australia; and a range of industries from consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and and services to industrial companies. All respondents have a managed travel program and American Express Business Travel Clients are defined as companies that use American Express as their primary travel services provider. About American Express Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. American Express Travel Related Services, Inc. operates one of the world's largest travel agency networks, recording $16 billion in worldwide travel sales in 2003. Through its Corporate Services group, the company counts nearly 70 percent of the Fortune 500, along with tens of thousands of mid-sized companies, as customers of its Business Travel, Corporate Card, and Corporate Purchasing Solutions services. More information on expense management tools from Corporate Services can be found at http://www.americanexpress.com/corporateservices. The American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment products, insurance and international banking. About Accenture Accenture is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , technology services and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. company. Committed to delivering innovation, Accenture collaborates with its Clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize mo·bi·lize v. 1. To make mobile or capable of movement. 2. To restore the power of motion to a joint. 3. To release into the body, as glycogen from the liver. the right people, skills and technologies to help Clients improve their performance. With approximately 95,000 people in 48 countries, the company generated net revenues of US $11.8 billion for the fiscal year ended August 31, 2003. Its home page is www.accenture.com. |
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