ICAP is the world’s leading interdealer money broker and provider of post-trade risk and information services. It has 71 offices in the Americas, Asia Pacific, Europe, the Middle East and Africa. Over 1,800 staff are based at the London HQ. Not surprisingly, global travel is a substantial part of the Group’s budget.
The Challenge
ICAP has been an ATPI Corporate Travel client for more than 15 years. Its experienced in-house travel managers wanted to be able to use the booking tools that worked best for them and their travellers. A brief experience of trying another TMC had proved unsatisfactory; ICAP didn’t like the online booking system, which was too basic and inflexible.
It was looking for a TMC that could offer the best-priced fares, combined with technology that was quick and efficient. Productivity was a key factor in choosing the right TMC. In March 2012 ATPI Corporate Travel retained this long-standing account after a re-tender process.
The Solution
Recognising ICAP’s own travel expertise and clear objectives, ATPI Corporate Travel offered complementary skills and products, providing tailored technology and a knowledgeable support team. Together these have helped to reduce ICAP’s travel spend without compromising the quality of the travel experience.
Creative ticketing techniques and ATPI Corporate Travel’s fares expertise has contributed to cost savings. For instance, specially negotiated deals on ICAP’s high frequency routes like New York, net fares and one way fares which find the most economical way of breaking an itinerary.
Other initiatives include benchmarking and regular analysis of spend so that ICAP travel budgets stay on track, and a customised range of management information (MI) reporting.
The Result
ATPI Corporate Travel’s proactive approach to cost savings has been highly successful for ICAP. In particular, airfare auditing has saved the Group an average of £30,000 per month. Using the tailored technology, ICAP has sourced average fares much lower than others in the finance sector.
MI has played a key role in identifying savings opportunities through pre and post-trip reports. It also gives ICAP the means to monitor travel to high risk countries and out-of-policy carriers.
The ATPI Corporate Travel team worked closely with the ICAP Travel Manager to negotiate ‘ICAP own’ hotel rates. Together the teams are continually developing and managing the preferred hotel programme to ensure efficiencies and ease of travel. Other added value services provided include conference and event management through ATPI Events.
The flexibility of the ATPI system and its people allows us to deliver the level of service our employees want whilst achieving best value. They have a proactive approach to making recommendations for savings on travel costs.
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