The coronavirus pandemic has forced millions of companies around the world to dig into the uncomfortable task of cutting costs wherever possible. It’s never been more important to ensure that your company is saving money and operating as efficiently as possible.
Many are evaluating their travel budgets. While making cuts may seem like the easiest and most immediate savings-generating option, one solution could be incorporating rebooking platforms into your company’s travel plan.
An estimated 80% of reservations can be booked online, according to Business Travel News. Rebooking tools that ensure your travelers are taking advantage of the best rates available, especially if your company already uses an online booking tool, can generate significant savings.
These platforms monitor your already booked reservations and constantly changing rates -- pre-pandemic flight prices changed an average of 62 times over 11 months -- simultaneously. Rebooking platforms identify lower rates and rebook your original reservation without sacrificing quality, ensuring the same amenities for a much lower price.
World Travel, Inc.’s proprietary Air Shopping Bot platform performs this function up until the day of departure. But the company has recently shown the power of rebooking tools in other areas of the travel industry, with one new system proving its value to clients by creating significant savings in less than a year.
World Travel’s new Hotel Shopping Bot software has saved clients more than a quarter of a million dollars in less than a year, monitoring $11 million in total spend since January 2020.
Hotel Shopping Bot is powered by TRIPBAM and provides travelers and companies automatic hotel re-shopping to secure the lowest possible prices. World Travel sends hotel bookings to TRIPBAM, where they’re monitored daily. When a lower rate at the same property is identified, TRIPBAM automatically rebooks the same room at the reduced rate.
One high-volume client company saved $108,000 in 2020 thanks to Hotel Shopping Bot’s rebooking strategy. Hotel Shopping Bot proved its value to lower-volume clients as well, generating savings of $27,000, $23,000, and $12,000, respectively for three clients this year.
World Travel offers clients two distinct Hotel Shopping Bot packages: Essential and Premium. Essential users have access to automatic rebooking and daily rate checks at like-for-like properties. Premium users enjoy customizable re-shopping configurations and enhanced reporting and analytics.
Saving whenever possible is extremely important as the business world navigates continually difficult terrain. The power of rebooking and monitoring technology can make saving money a hands-off but increasingly effective option.