In comparison to just twenty years ago the landscape of the renewable energy sector is unrecognisable.
Slowly becoming part of the mainstream, it is predicted that by 2040 wind and solar will make up 48% of the world’s installed capacity and 34% of electricity generation, compared to 12% and 5% in 2017.
The sector’s exponential growth means that the way in which the industry operates is changing.
Traditionally supported by incentives, the renewables industry is updating its approach to revenue models, as evidenced in Germany, where the market has switched from fixed tariffs to competitive bidding - therefore indicating a wider global trend centred around increasing competition, reducing costs and faster deployment. The adoption of this new revenue model leaves the future of the sector uncertain, as an increasing number of smaller organisations disappear to be replaced by larger companies.
However, there are a select few organisations leading the resistance and becoming more commercial, strategic and economical in order to survive. One way in which companies in the renewables sector can do the latter is by assessing and managing controllable expenses and evaluating suppliers.
An obvious expense to interrogate is corporate travel, ascertaining whether it’s being managed strategically and with the assistance of a specialist, such as a travel management company (TMC).
One of the many benefits that a TMC presents is increased efficiencies for your organisation and considerable time savings for your employees. Experienced travel consultants are able to find the best options and rates to suit your travellers itineraries, as well as being able to source rates quickly and procure fares that may be unavailable to your travel bookers. With the help of expert consultants, bookers are able to save time arranging travel and spend more time on their strategic tasks. As a one stop shop, a TMC will also aid efficiency, providing multiple services in-house, such as passports and visas. They will ensure that the whole trip is catered for, whether that’s a flight, hotel, visa or car.
However time savings are not the only type of saving on offer. Using global buying power, specialist technology and creative ticketing techniques, TMCs are able to reduce the overall spend of an organisation’s travel. This is especially true in regard to complex itineraries, commonplace in the renewables industry. TMCs are also able to identify savings opportunities for a leaner corporate travel spend.
Whilst cost savings are crucial in an industry striving to be more economical, service and experience should not be compromised especially in a sector where mission critical travel prevails, therefore a fine line must be steered between the two.
With all travel managed via one travel provider, comprehensive visibility of both travellers and spend is possible. With greater transparency comes the ability to see the full and current travel picture and identify trends surrounding your companies travel and how more can be achieved. Whether that’s a company specific hotel programme or greater compliance and in turn savings.
If this has got you thinking about the way in which you manage travel, here are four questions you should ask your travel supplier.
Get the latest articles direct to your inbox
You have been added to our subscriber list!