American Express Business Travel (AEBT) is offering some good news. Amid an uncertain economic environment that has been driving greater scrutiny of corporate travel budgets, AEBT reports that it helped clients save more that $2 billion in expenses in 2008. AEBT says its proven ability to drive savings helped AEBT acquire $3.4 billion in new business for the year despite companies coming under increasing pressure to yield greater bottom line savings.
Global customer wins increased 172 percent compared to 2007 and wholly owned travel sales reached $25.4 billion. Newly signed companies for the year included major companies such as British Telecom and Rio Tinto. Other clients, such as ExxonMobil, Citi, Walmart and Philips, expanded their travel programs.
"Reviewing costs around travel and its associated infrastructure is absolutely imperative in today’s environment," said Charles Petruccelli, president of American Express Global Travel Services. "Travel is the second-largest area of spending for most corporations. As the effects of the economy continue to impact corporate travel budgets, it will be even more important for companies to seek out true service, sound advice and cutting-edge solutions to ensure a maximum return on their tighter travel investments.”
AEBT also promises more innovations in 2009 as executives seek solutions. They urge agents and corporate travel managers to review AEBT’s total program such as its plans for Global Advisory Services, the Free Travel Program Assessment and BusinessTravelConneXion.com. AEBT said it is also introducing its Five Steps approach to achieve best-in-class travel and expense management.
Visit www.americanexpress.com/businesstravel.