Thousands in Lost Savings for Clients
BRUSSELS, 10 November 2022 — TRIPBAM, the global provider of air and hotel rate reshopping, auditing, benchmarking and sourcing, today shared new client data in which its TRIPBAM Contract Audit solution for air and hotel identified hundreds of thousands in lost savings from a handful of global corporates.
The lost savings were caused by a variety of issues, including discounting errors, incorrectly loaded rates and fare class exclusion errors.
“The results of this client auditing analysis show the importance of regularly monitoring corporate hotel and air contracts year round,” said TRIPBAM Managing Director for EMEA Peter Grover. “The industry simply spends too much time negotiating agreements to leave the success and accurate application of those agreements up to chance.”
While TRIPBAM is unable to disclose the specific company names connected with the findings, the results all come from enterprise-level clients with a global air and hotel footprint.
Here are some causes for lost savings in greater detail:
- A negotiated air discount failed to be applied at the point of sale on a long-haul international route for one global consulting firm, resulting in more than $170K in lost savings.
- A data entry error with one air carrier led another global consulting firm to receive a 3% discount instead of a 30% discount, leading to $70K in lost savings.
- Several technology and automotive companies did not receive negotiated chainwide discounts with hotel suppliers during COVID, an outcome attributable to more aggressive revenue management practices during the pandemic. On average, these clients lost more than $300K.
- Another technology company using dual rate loading of static rates and dynamic discounts lost $120K when their static negotiated hotel rate was used as a market floor instead of a cap.
- A pharmaceutical company lost $40K when their dynamic hotel discount was incorrectly applied to a rate that was not the best available rate.
TRIPBAM Contract Audit works to review every single hotel and flight reservation in real time, measuring booked fares and rates against all negotiated agreements, as well as publicly available fares and rates. It does not fix contract errors but instead identifies when issues occur and notifies the programme manager so that problems can be resolved with suppliers as quickly as possible.
“When you have global air and hotel programmes spending millions on travel each year, it’s easy to see how small errors can add up quickly,” said TRIPBAM Head of Business Development for EMEA Juliette Jackman. “It’s something we knew intuitively, but the results of this client data show just how critical it is to proactively and regularly audit supplier contracts.”
TRIPBAM first launched hotel rate auditing in 2018 and this year launched contract auditing for both air and hotel agreements. TRIPBAM Contract Audit for air and hotel earned the People’s Choice award in the Business Travel Faceoff at last month’s BTN Innovate event in New York City.
TRIPBAM is the leading travel technology provider for reducing hotel costs and optimising hotel programmes. TRIPBAM’s advanced analytics, benchmarking, and contract auditing capabilities empower companies to save on travel spend without compromising on corporate culture. More than 2,000 companies across the globe trust TRIPBAM’s technology to stay on top of supplier agreements, boost compliance, negotiate new contracts, and save both time and money. For more information, visit
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