Think in terms of lasting value – not short-term profit . . . Does your company know how?

 

In a Value-Based  Travel Management (VBTM) approach, our overall goal is to maximize the value of your Travel Spend.

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This means that the decisions that you make are not simply driven by short-term profit. Rather, you consider the longer-term effects that the decisions will have on organizational sustainability and profitability, reflected in you’re your customer and other stake holder relationships and in your peoples  health and safety as well as in managing the cash budget.

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VBTM asks people within a company to think like owners, and to make decisions that will ultimately benefit the all stakeholders. Managers and executives must constantly look for opportunities that will create value, and use the company's cash in ways that ensure long-term success.

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A fundamental principle of VBTM is the belief that future cash flow and growth are the source of a company's value. Looking only at accounting-based measures – is not how advocates of VBTM make decisions. This may be difficult, particularly when there's significant pressure from short-term cost control.

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VBTM is both a philosophy and a methodology. It recognizes that the decisions that you make on a daily basis all contribute to the value of the organization to its stakeholders. Staying in touch with all stakeholders is vital and travel costs are vital component of develpoing stakeholder relationships. Therefore, VBTM must be pushed throughout the organization; not just in the boardroom. People at all levels must participate in driving this overall value driven process