American Express GBT CEO Abbott: CWT Acqusition Targets Non-Customer Costs
The Company Dime
by Jay Campbell
1d ago
American Express Global Business Travel announced Monday it agreed to pay about $570 million to buy CWT using stock and cash on hand. The companies expect the deal to close in the second half of this year, subject to regulatory approvals in multiple jurisdictions and the satisfaction of other closing conditions. If it does, GBT’s pro forma 2024 revenue would… The post American Express GBT CEO Abbott: CWT Acqusition Targets Non-Customer Costs appeared first on The Company Dime ..read more
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Op Ed: Scott Gillespie On The Case For Carbon-Acceptable Airfares
The Company Dime
by Scott Gillespie
6d ago
Consultant Scott Gillespie of tClara has spent a lot of time examining high- and low-value trips, and advocating for travel policies that account for that distinction. It’s not just about cutting down on wasteful spending; he also implores companies to consider business travel’s environmental impact. In his latest contribution, Gillespie does some math to depict... The post Op Ed: Scott Gillespie On The Case For Carbon-Acceptable Airfares appeared first on The Company Dime ..read more
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Are Offline Transactions More Lucrative For Travel Management Companies? No, But …
The Company Dime
by Jay Campbell
6d ago
AmTrav CEO Jeff Klee caused a stir with a Jan. 29 column in which he relayed an anecdote about a customer of a large travel management company hearing from a travel advisor that their “booking tool withholds some flight options on purpose in order to drive more revenue from phone calls.”  Reactions from multiple executive-level TMC sources ranged between confused… The post Are Offline Transactions More Lucrative For Travel Management Companies? No, But … appeared first on The Company Dime ..read more
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Dispatch 10
The Company Dime
by Team Dime
1w ago
As American Airlines all but dismantles corporate sales, airline industry pundits scrutinized AA’s latest arguments about going small and emphasizing competitiveness via network and loyalty. The strategy illustrates diversification among big airlines that adds to these challenging times for corporate travel buyers. Chief commercial officer Vasu Raja on March 4 told Wall Street analysts that... The post Dispatch 10 appeared first on The Company Dime ..read more
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Notebook: Government Travel Pros Treated To Latest On Innovation, Sustainability
The Company Dime
by Jay Campbell
1w ago
Alexandria, Va. – Amid a federal government solicitation process putting the management of upwards of $4 billion in annual travel spending up for grabs, the National Defense Transportation Association’s GovTravels conference attracted a record 1,100 attendees here last month.  The U.S. General Services Administration has begun collecting information from interested travel and expense tech vendors as part of the ETSNext… The post Notebook: Government Travel Pros Treated To Latest On Innovation, Sustainability appeared first on The Company Dime ..read more
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Amex GBT Describes Cybersecurity Practices, Takes On Binding Corporate Rules For Data Transfers
The Company Dime
by Jay Campbell
1w ago
American Express Global Business Travel’s executives get quarterly updates on cyber risks monitored by the company, according to a new section in its annual report, filed Wednesday. The company regularly tests its systems for vulnerabilities and provides all employees with cybersecurity awareness training, including information on company policies and procedures for reporting incidents. GBT also revealed in its report that… The post Amex GBT Describes Cybersecurity Practices, Takes On Binding Corporate Rules For Data Transfers appeared first on The Company Dime ..read more
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For Big Corporate Travel Management Companies Using Artificial Intelligence, Risk Mitigation Is Job No. 1 
The Company Dime
by Jay Campbell
2w ago
Artificial intelligence promises efficiency gains and better, quicker corporate travel service. Use cases include email automation, swift answers to simple questions, and chatbot bookings and changes. For corporate travel management companies, though, achieving tantalizing outcomes requires extreme care. “Move fast and break things” this is not. Machine learning and predictive artificial intelligence are not new to big TMCs. Generative AI,… The post For Big Corporate Travel Management Companies Using Artificial Intelligence, Risk Mitigation Is Job No. 1  appeared first on The Company Dime ..read more
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Notebook: Two Buyers Say Policies Fail In The Face Of Distribution Fragmentation
The Company Dime
by David Jonas
2w ago
Regardless of the allure, direct bookings with suppliers are out of bounds for most employee groups at two companies represented on a March 6 webinar hosted by Cerebri AI. Both firms mandate that bookings go through their designated travel management companies via counselors or the SAP Concur Travel booking tool. According to their travel managers, the approach is breaking down…. The post Notebook: Two Buyers Say Policies Fail In The Face Of Distribution Fragmentation appeared first on The Company Dime ..read more
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Bain & Company’s Sustainability Drive Begins With Business Travel 
The Company Dime
by David Jonas
3w ago
Like any professional services firm, Bain & Company’s product is its people, and they move around a lot. Business travel is its most significant source of carbon emissions, by far. When the company embarked on a sustainability drive, it quickly realized that was the place to start. Coming out of the pandemic, Bain was “reevaluating business travel policies and working… The post Bain & Company’s Sustainability Drive Begins With Business Travel  appeared first on The Company Dime ..read more
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With A Stronger Balance Sheet, Amex GBT Expects To Grow By Outcompeting, Acquiring
The Company Dime
by Jay Campbell
3w ago
American Express Global Business Travel expects to improve margins thanks to productivity gains, lower restructuring and debt costs, and a continued shift to proprietary online booking tools. It’s also looking for acquisition opportunities that executives and company documents released Tuesday called “accretive,” “incremental,” and “strategic.”  Speaking under the condition of anonymity a year ago, one equities analyst said, “Their free… The post With A Stronger Balance Sheet, Amex GBT Expects To Grow By Outcompeting, Acquiring appeared first on The Company Dime ..read more
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