Industry:
Energy
Scope:
Global
Saving an average $345 US dollars per trip using Price Optimization
The challenge
A global energy company knew that there was an opportunity to identify significant savings on fluctuating airfares. But, it couldn't find the right technology to monitor the fast-changing fares.
"I was actively looking for an opportunity to introduce fare optimization into our organization. I know that fares change on a regular basis, and wanted to figure out a way to identify and act upon the savings. We were also being challenged by employees who were telling us they could find lower airfares out in the market. "
Corporate Travel Operations Manager for the energy company
The solution
Enter Price Optimization. Working with CWT and its central fulfilment team, the company was quickly able to implement a post-ticketing solution. Price Optimization started by looking at airfares purchased in the US - including non-penalty tickets and tickets still in the void window. It then tracked hotel rates in the US, before expanding to key markets including the Netherlands, Germany, Australia, Singapore, Canada and the United Kingdom.
The result
Since inception, the client has realized savings of 1.05% of US air spend and 1.77% of US hotel spend. Their average saving is $231 per air rebooking and $114 per hotel rebooking – resulting in a possible per trip average saving of $345. CWT's solutions have also helped to reinforce advanced booking behavior endorsed by our customer.
"Price Optimization came along at just the right time."
Corporate Travel Manager
With the success of the initiative, the client has started rolling out our solutions to multiple other countries as they become available, enabling even more company-wide money saving opportunities.
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