New research released today has revealed that UK not-for-profit organisations are not capitalising on the best travel advice and deals and are losing hundreds of thousands of pounds every year as a consequence. The report, put together by leading Travel Management Company Key Travel, who have been exclusively serving the not for profit sector for 30 years, is the culmination of nine months analysis of 1500 client organisations. The research reveals that not-for-profit organisations are losing in excess of 15% of their annual budget simply by not being aware of the cost saving alternatives and therefore not making the best choices with regards their travel arrangements.
Since the implementation of their new reporting systems last year, Key Travel has been monitoring the effectiveness of buying behaviour in the not-for-profit sector. In a bid to help organisations manage their budgets more effectively, the research indicates the most common mistakes people make in their travel process and clearly highlights where savings could be achieved through improved buying practices.
The Key Travel ‘Missed Savings Report’ allows analysis of the fare taken at the time of booking alongside the cheapest available fare at the time (that would also have been offered at the point of sale) as well as the cheapest possible fare, if booked in advance.
The Missed Savings Report revealed that 1500 not-for-profit organisations spent approximately