Driving value from your hotel spend: the 64,000-dollar question!
This is the third in a series of posts taking a broad view of the value you can unlock when booking hotels.
Part 3: Added value for the finance function
Roomex enables you to reduce hotel costs – savings that go straight to your company’s bottom line. Which is already great news for company finances – but it’s just the start.
Based on our experience of working with hundreds of successful companies in a broad range of sectors, we calculate that Roomex will deliver up to £64,000 (or €/$) on an annual spend of £100,000. The table sets out the savings and the monetised values:
Let’s now look at these Roomex service features in detail:
Direct Savings on Hotel Rates
Roomex will get you the best rate by accessing 35 sources of supply. Or your own negotiated rate if better. Typically, this delivers savings of 15% or more.
In contrast to agencies and travel management companies, there are no fees or commissions whenever you book through Roomex. And there is no signing-on fee or contract.
Time Saved Searching and Booking
Roomex immediately finds the best offers, so you do not need to search. This typically cuts the average time to make a booking by a factor of ten (e.g. from ten minutes to one minute). Admin time that adds up over the course of a year.
Consolidation of Hotel Spend on a Single Invoice
All your hotel spend is consolidated on a single invoice, with all necessary information including your internal cost codes, at the end of the month – saving hours spent processing individual invoices.
Time Saved Contracting / Dealing with Hotels
Roomex's expert team of negotiators deal with hotels every day to secure collective group pricing.
Policy Compliance Control
Your travel expense rules are loaded into your personalised Roomex application, thereby ensuring compliance with minimum time-consuming manual processes required.
Control over Spend via Single Gateway
With your entire hotel spend going through Roomex, you have complete financial control over travel operating expenses. You can identify savings, average cost per night etc. at a glance.
Reporting and Visibility
Advanced reporting and business intelligence built into the Roomex platform allow you to analyse spend by any of your chosen criteria (projects, departments, geography etc.) without admin effort. This also lightens the burden of reporting to internal and external auditors.
Duty of Care
Roomex makes it easier to abide by your duty of care to employees – we check all hotels to ensure they provide safe and appropriate accommodation. Interactive maps on the Roomex platform mean you can pinpoint their whereabouts immediately, and get in touch when necessary.
Working Capital Value
Booking through Roomex simplifies check-in and check-out for your employees. They do not need to pay for accommodation or even expenses (using the Roomex billback facility). This allows them to focus on doing business.
First Class Priority Support
Roomex employees are experienced hotel and business travel professionals. Priority support is available should any of your business travellers run into difficulties.
All in all, the value really adds up if you make Roomex your standard platform for managing your hotel spend category and take advantage of its advanced capabilities. Even if all these values don’t apply in your case why not calculate for yourself what the savings would be and then get in touch and allow us to make that happen.
View our full Value Calculator.