What does a savings methodology do?
We build in a savings methodology to every online or offline booking you make. A fully automated system calculates and stores all the key data points for each booking.
All the raw data, together with in-depth analysis, is available to you in the Travel Analysis report. This report provides realistic savings data based on your travel policy.
How does this work?
We record Realised savings as the difference between the Booked Rate and the highest rate your policy allows (i.e. High Rate). Realised savings indicate where your staff chose a lower rate than the highest rate allowed, resulting in a saving for your organisation.
We record Potential savings as the difference between the Booked Rate and the lowest rate your policy allows (i.e. Low Rate). Potential savings indicate where your staff chose a higher rate than others available in the market, but still within your travel policy definitions.
Finally, we also record what we call your Exposure Rate. This is the difference between the Booked Rate and the highest rate in the search results. This gives you an indication of your exposure if you chose not to apply a travel policy at all.