Posted: 11 February 2019
Mergers and acquisitions: 7 steps to realign your travel programme
It’s hard to be certain about much of anything in business today. Consider the stability of corporate structures. The Financial Times reported a global record-breaking merger and acquisition (M&A) spree, with $3.3 trillion in deals taking place as of September 2018.1 That’s a 39 percent increase from 2017 through the first nine months of 2018. Forces driving the M&A trend include a desire to cut costs through operational consolidation, the quest for scale to compete in a global marketplace and favourable regulatory environments (i.e. low anti-trust enforcement) in places like the US. M&A affects every industry and companies of every size. While we tend to think of mergers as a practice that affects only large organisations, in reality businesses of all sizes engage in M&A. Small companies are acquired by bigger ones. Mid-size corporations pair up. Big companies join together to get even bigger. Large entities spin off smaller units and on and on. All this means that internally, a merger can have a significant impact on global procurement, especially the travel department. The restructuring that takes place as two companies come together can be disruptive. To help you adapt to the inevitable changes that take place in an M&A situation, we asked our clients to share their tips on this kind of corporate transition. This white paper offers their perspective on how to adjust a travel management programme with a newly combined entity:
- How to identify the steps you need to take to realign your business during mergers and acquisitions.
- How to build a stronger travel programme.
- Why focusing on traveller satisfaction will guide you in the right direction.
- How your travel management company (TMC) and its technology can facilitate post-merger travel programme success.