CFO Survey Indicates Improved Outlook For Business Travel; Traveler Safety and Airline Woes Still Top Concerns For Senior Manage
May 02 2005 - 6:00AM
Business Wire
Findings Also Reveal Increased Awareness Among Financial Executives
About Travel Cost Savings Opportunities Eighty-five percent of
financial executives surveyed in January 2005 feel their companies
will spend more or the same on corporate travel in the coming year,
according to a recent business travel survey. The findings are from
an independent survey conducted for the Association of Corporate
Travel Executives (ACTE), an organization dedicated to the science
of business travel management, and GetThere(R) and Travelocity
Business(SM), leading providers of corporate travel solutions and
part of Sabre Holdings. Survey results also reveal that more
financial executives are starting to base travel budgets on a
company's expected sales, revenue and marketing goals, which may
reflect the overall increasing health of the economy. While
business travel appears to be on the rise, corporate responsibility
for employee safety still weighs heavy on the minds of senior
management. Ninety-one percent of financial executives indicate
moderate to high concerns about the safety of travelers, while
eighty-six percent are concerned with the ability to track, locate
and communicate with employees on the road. Sixty percent of
respondents also share moderate to high concerns about the impact
that financial problems suffered by major airlines could have on
their businesses. "The good news is that corporations are not
letting security issues impede their ability to conduct more
business travel this year, but company concerns about traveler
safety still need to be addressed," said ACTE President Greeley
Koch. "ACTE is dedicated to working as an advocate on behalf of
corporations to ensure these issues are given attention within the
business travel community." Survey data also shows an increased
understanding among financial executives about how travel
expenditures impact the company's bottom line. Respondents indicate
they are less surprised at how much corporate online booking tools
rose among respondents this year, with forty-four percent of
executives using online booking to reduce travel costs, up from
thirty-one percent in 2003. More than three quarters of financial
executives also believe that new online corporate travel agencies
could provide new cost savings opportunities. "From a technology
standpoint, the survey results reinforce that financial executives
have greater awareness of how technology is giving them a clearer
picture of how travel dollars are spent, helping them manage costs
more effectively," said Ellen Keszler, president of Sabre Holdings
Corporate Solutions. "It also shows that companies continue to
embrace online booking as a way to automate travel reservations
because of the positive impact it can have to the bottom line."
Additional Findings -- More than seventy percent of financial
executives feel their companies have an accurate way of tracking
travel expenditures, compared to fifty-six percent in September
2003. -- Nearly seventy percent of executives surveyed stated that
their companies "use technology well to plan and manage corporate
travel" compared to fifty-six percent in September 2003. --
Sixty-eight percent of companies that use online booking believe
they have experienced significant cost savings as a result. -- Of
the companies that use online booking tools, eighty-one percent
require the use of online booking for some or all business trips,
in the form of full or partial mandates. For more CFO survey
findings, go to:
http://www.getthere.com/documents/CFO_Survey_Data_Deck.ppt. Survey
Methodology The proprietary survey was conducted from January 10 -
26, 2005 for ACTE (Association of Corporate Travel Executives),
GetThere and Travelocity Business, leading providers of corporate
travel solutions and part of Sabre Holdings. Results are based on a
poll of BusinessWeek subscribers and were limited to senior
executives with financial and procurement responsibilities (CFOs,
senior VPs, executive VPs and presidents) that work for companies
with more than 1,000 employees. A total of 374 online surveys were
completed on a secure Web site, managed by InsightExpress, Inc., an
independent market research firm. Two previous surveys were
conducted using the same methodology in March 2002 and September
2003 for GetThere and ACTE. About ACTE The Association of Corporate
Travel Executives was founded in 1988 as the education and research
resource for the global business travel industry. ACTE conducts
three international conferences, plus more than 60 executive
forums, PowerTalks, and webcasts annually. With 2,500 members in 37
countries, the association is best known for its studies, position
statements, and industry wide surveys. About GetThere GetThere is
the world's leading online corporate travel reservation technology.
GetThere enables global corporations and government agencies to
provide a convenient way for employees to book travel and plan
meetings while significantly reducing costs. GetThere's advanced
technology works with all major global distribution systems (GDS)
and all travel management companies. More than 3,000 corporations,
including 60 percent of the Fortune 200 companies that have online
booking sites, use GetThere. More information is available at
www.getthere.com. Sabre Holdings Corporation (NYSE:TSG) is a world
leader in travel commerce, retailing travel products and providing
distribution and technology solutions for the travel industry. More
information about Sabre Holdings is available at
http://www.sabre-holdings.com. About Travelocity Business
Travelocity Business is a full-service corporate travel agency that
helps companies easily manage travel and reduce costs, while
providing more choices to travelers. Travelocity Business combines
the savings and convenience of online with the full service of
dedicated agents available 24/7 who typically answer the phone in
20 seconds, and within 60 seconds guaranteed (see site for
guarantee details). Companies can cut travel costs through flight
deals, Web fares, hotel discounts and service fee savings --
representing an average savings of more than $100 per trip,
including airfare savings averaging 26 percent per ticket and
service fee savings of up to 84 percent (see site for savings
details). Travelocity Business combines the expertise, service and
travel choices of Travelocity with corporate experience gained from
serving more than half of the Fortune 200 companies. For more
information, companies can visit www.travelocitybusiness.com.
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