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CWT launches new product to simplify travel cost budgeting 

The travel management platform has piloted its subscription fee billing system with a select clients

Travel management platform CWT has introduced a new subscription fee model to offer its corporate travel customers simple and transparent pricing and billing for travel booking services.

Companies now have the option of receiving a single, recurring monthly invoice covering fees for all the products and services they procure globally from CWT, saving time, while simplifying travel cost budgeting.

The subscription fee is based on several criteria, including a company’s forecasted transaction volume and any value-added products and services they may require.

The model also offers flexibility, as the fee can be revised if a customer needs to change the scope of products and services included in their subscription.

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After a year of trailing the system with a select group of clients, the feedback has been overwhelmingly positive, say the team.

The system provides clarity into Travel Management Company (TMC) spend as well as significantly reducing the amount of time finance teams spend reconciling TMC invoices.

New clients indicated the model eliminated their biggest billing bugbear of unanticipated or hidden fees, which they had historically experienced prior to joining CWT.

CWT’s VP of finance and head of global pricing, Brady Jensen said: “As part of our ongoing commitment to simplify business travel for all, this new fee structure will not only streamline our customers’ pricing and billing processes, but afford them built-in volume discounts that are not inherent to the transaction fee model.

“Different from Transaction Fee Models, this new billing model issues just one simple, comprehensive monthly invoice as opposed to multitudes, making monitoring and managing business travel spend and forecasting that much easier for corporate travel managers.”

For more information, visit www.mycwt.com

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