GlobalStar / SVB Financial Group Success Story
"As an industry leader, CTMG with their 24/7/365 full service and willingness to innovate makes a huge difference for us. They have set a new standard for defining a fully integrated travel and expense management real time solution, which has produced tremendous savings for our travel spend. CTMG and its GlobalStar partners have provided an opportunity for a global solution which ensures cost savings through a worldwide network."
Terry Larock, Director of Corporate Purchasing, SVB Financial Group
SVB Financial Group (SVB): A U.S. public company with total assets in excess of $6 billion
- Annual global travel budget $ 5 million
- 5 global locations outside of U.S.
SVB reasons for consolidating travel globally
- Cost savings (Estimated at between 12-15%)
- Enhanced supplier agreements
- Consistency of service
- Uniform policy compliance
- Uniform credit card usage
- Easiest method to manage total travel expense
- Collection of travel data and preferred supplier usage reports
- Part of a larger consolidation initiative
Method
SVB is an existing customer of Corporate Travel Management Group (CTMG) for the past five years. CTMG provides travel services for all US originating travel. The client’s executive management team wanted to reduce travel costs worldwide and requested GlobalStar prepare a summary describing the benefits and methods for consolidation and timing.
Each one of the client’s global sites was matched with a GlobalStar partner location. Europe was selected as the first region and London as the first matched location. A GlobalStar representative from the US along with the GlobalStar partner in the UK(ATPi) presented a service and consolidation plan to SVB Travel management. SVB experienced immediate cost savings and full satisfaction with the UK GlobalStar partner.
Semi-annual traveler satisfaction surveys will be performed for each location. SVB will measure the success of the program to determine savings from policy compliance and consolidated supplier usage.
