Solving the Most Common Business Travel Challenges Together
The realities of business travel can create complexities for companies seeking extended stay, relocation, and other temporary housing solutions. Some of the most common issues our clients look to address include:
- Accurately forecasting travel costs, for planning within tight budgets
- Mitigating risks for travellers and ensuring overall safety
- Managing employee retention by providing an overall enjoyable experience for employees
Dealing with these issues isn’t easy, but addressing them effectively can lead to incredibly positive outcomes. This includes easier measurement of key performance indicators and more transparent cash flow tracking through accurate budget forecasting; better duty of care and employee tracking during emergencies through employee compliance; and overall enjoyment of work and company loyalty through a positive travel or relocation. Using its broad inventory of properties, innovative technology, proven processes and tailored solutions, Oakwood has worked with thousands of clients to find solutions to these challenges.
Below are examples of how we’ve collaborated with our clients to develop solutions together, and some of the results we’ve achieved.
Accurate Budget Forecasting
Oakwood’s clients have been able to more accurately forecast budgets and gain spending visibility, partly through the use of epic™, a proprietary e-procurement system. First introduced in 2009, epic™ is a comprehensive solution for travel managers seeking the most appropriate accommodations for their employees. The next generation of epic™ brings new value to the time-proven resource. By providing the best available rates through a competitive bid process, epic™ helps clients contain cost and maintain alignment with budgets. In fact, over the last 3 years, epic has offered clients a total savings of $22M per year in travel-related costs.
By leveraging epic along with other solutions offered by Oakwood’s experienced program consultants, several clients have been able to achieve over 20 percent in program cost savings. In one specific example, one client generated an estimated savings of USD $3.25 million globally, across more than 1,900 move-ins.
Improved Risk Mitigation
Oakwood also works with its clients to ensure the safety of those staying at its locations. By providing in-depth project management between Oakwood’s global account management team and our clients’ teams, we ensure a smooth implementation of programs across multiple regions to meet our clients’ Health, Safety and Security (HSSE) standards and other compliance requirements. Oakwood also carefully vets and carries out Integrity Due Diligence (IDD) checks on all suppliers to verify their integrity and to mitigate any potential risks.
As an added layer of protection, Oakwood can provide daily updates to International SOS (ISOS) so that a client can track the whereabouts of every employee staying with Oakwood if needed. And, in the event of an emergency, Oakwood will deploy a team dedicated to helping our clients reach any impacted travelers.
Oakwood’s Duty of Care program has been used to verify guests’ safety and to communicate employee status, mitigating the risk caused by disasters, including recent major crisis situations such as the London attacks and Hurricane Harvey,. This is why over the past decade, Oakwood has been invaluable to its corporate and government clients in ensuring staff safety. With a proven track record of service, Oakwood is a provider that travel managers and global mobility managers can depend on to ensure smooth and continued communications when natural disasters, attacks, or other emergency situations occur.
Greater Employee Satisfaction
While acknowledging the importance of budget forecasting and risk mitigation, Oakwood also understands that the quality of a business traveler’s experience defines their stay with us – and their experience with their employer. That’s why we’re committed to delivering a better traveler experience. We can proudly state that our overall guest satisfaction is rooted in creating meaningful and memorable experiences driving our guest feedback scores higher with each guest, on every stay.
Additionally, Oakwood has leveraged its extensive global inventory to create flexible, customized housing options for its clients. With dedicated global client teams, travelers staying with Oakwood enjoy a proven process and a housing experience that is consistent from region to region, all while maintaining maximum consistency for travelers and an end to end solution for travel and mobility managers. At Oakwood we go beyond just apartment sourcing; we follow through on all aspects of the guest stay to include guest satisfaction and billing.
Tailored Solutions, Continuous Improvements
By working with clients to truly understand the depth of their needs, Oakwood has been able to provide comprehensive solutions to the most common challenges. Our solutions are tailored to offer seamless global and local support, and are geared towards creating continuous improvements. Together, we have worked to successfully address the different needs of employees, travel managers, and HR stakeholders in multiple locations around the world.