Case Study: Cost Saving with travel forecasting

Corporate Travel Management (CTM) delivers 14% cost savings through travel forecasting technology.

CTM’s proprietary travel forecasting technology saved a client 14% on domestic air travel by positively influencing the time of travel.

Read on to find out how.

Client

Challenger

Industry

Investment management

Focus

Cost savings through CTM Fare Forecaster

Objective

CTM’s Fare Forecasting technology was developed to boost smarter bookings, policy compliance, and cut travel costs.

Solutions

Challenger was CTM’s first client to quickly adopt its intuitive forecasting tool, enabling travellers to easily find the most cost-effective travel days.

Outcome

Three months in, Challenger cut domestic air spend 14%, booked earlier, and increased restrictive fare use, all with steady booking volumes.

Objective

Challenger, an ASX-listed Australian investment management firm and CTM client since 2013, became the first to implement CTM’s proprietary Fare Forecasting technology, a solution designed to enhance travel purchasing decisions.

Challenger’s primary goal was to reduce overall travel costs by influencing smarter buying behaviour among travellers and travel bookers at the point of booking.

The key objectives were to:

Increase the number of days booked in advance and optimise fare category selection.
Drive greater utilisation of preferred suppliers.
Align staff travel behaviour more closely with company travel policy.

Before CTM developed Fare Forecaster, an advanced forecasting tool, the corporate travel market lacked technology focused specifically on guiding travellers toward the most cost-effective travel days before booking.

Given Challenger’s staff are spread across the country, fostering consistent and effective booking behaviours proved challenging, resulting in inefficiencies and varied policy adoption.

By adopting CTM’s innovative fare forecasting technology, Challenger gained real-time, actionable insights that empowered their team to make smarter booking choices, enhancing policy compliance and delivering measurable cost savings.

Solutions

Challenger was CTM’s first client to adopt its proprietary forecasting technology. This innovative tool empowered travellers and arrangers to easily identify the most cost-effective travel days for their routes within a single search, boosting both efficiency and savings.

Thanks to its intuitive, user-friendly design, the technology was quickly embraced across the business, requiring minimal training or encouragement for adoption.

Outcome

Just three months after adopting the new technology, Challenger began seeing tangible improvements in booking behaviour that positively impacted their bottom line.

Domestic air spend dropped by 14% while booking volumes stayed steady. Meanwhile, the average booking lead time grew from 11 to 14 days, and use of restrictive fares increased by 4%, driving greater cost efficiency.