RELX Group’s enriched travel analytics and airfare price tracking with FairFly
About RELX Group
RELX Group is a global provider of information-based analytics and decision tools for professional and business customers. Listed on the London Stock Exchange (LON:REL), the group has a market capitalisation of $43 billion and employs over 33,000 people in 40 countries.
Given the company’s global presence, RELX group has a comprehensive global travel program that ensures employees can effectively serve the needs of its customers in more than 180 countries.
Corporate travel at such a scale needs to be both effectively managed and cost-effective in order to support business goals and have an attributable commercial value.
The main challenges
Historically, RELX Group has invested in educational programs to influence employee behavior whilst booking air travel but had minimal technological solutions implemented that were geared towards cost avoidance, the solutions it had in place relied on manual work from its TMC’s travel agents.
RELX Group sought a solution that could augment their educational efforts and provide both transparency into booking habits and deliver an enhanced level of corporate travel analytics. As a result, RELX chose FairFly’s airfare tracking module, Faresaver and insights suite given FairFly’s ability to integrate and generate savings globally as well as provide a consolidated reporting platform.
Reduction in air spend and transparency into booking habits
RELX Group wanted to address situations where the lowest-logical travel policy was not always followed and had undertaken efforts to educate its workforce. Even with considerable cultural change, RELX Group wanted an innovative and technological solution that would continually search for price reductions both during and after the ticketing void window up until departure.
FairFly’s Faresaver provides RELX with the assurance and safety net that due to volatile airline pricing, lower prices can be found after booking with travelers remaining on the same route, in the same aircraft, and in the same cabin class.
“There’s an opportunity to stop and analyse what we’re doing at the point of booking, why wouldn’t we be using technology to deliver profit?” said Martin Stevens, RELX Group’s Senior Manager Procurement. “We weren’t looking at what was going on between booking and departure. Why wouldn’t we spend three-hundred pounds to save a thousand?”
Online booking tools and auto-ticketing made human oversight an additional challenge. “By the time we spot instances where the lowest logical fare isn’t booked – with auto-ticketing – it’s often too late”
A true partnership
RELX Group’s relationship with FairFly is the singular definition of what a true partnership should be. Working together to enhance and enrich RELX Group’s travel analytics, FairFly was able to build and deploy additional layers of reporting that could independently report on the performance of their negotiated fares and benchmark them against those that are publicly available. Using real-time data, RELX is better prepared when negotiating their airline contracts and can highlight sub-standard contracts quickly.
“We can now analyze what our airline contracts are delivering and identify whether the airlines are undercutting our corporate fare or whether the public fare is becoming more competitive – we have to understand our contracts and to understand the data in a live environment is invaluable” Said Martin. Looking towards the future with FairFly he commented, “I think it’s going to be very useful for airline negotiations more so than it’s ever been – it provides better data than our TMC”
Unflown or unused tickets
RELX Group has a group level consolidated travel procurement so that its business units such as LexisNexis, Cirium, and Reed Exhibitions can all benefit, at scale, from the same technologies. During the COVID-19 pandemic, RELX Group had many refunds and unflown tickets on their books and whilst a central purchasing account could facilitate many of the refunds there are instances where personal cards could be reimbursed directly from airlines. Talking of FairFly’s unused ticketing module, Martin said,
“We seek innovative ideas, and FairFly falls into that. Partnering with best in class technologies like FairFly is a great strategy for our TMC”
Information and Analytics
Faresaver & Insights & Ticket Disruptions