2016 U.S.-Booked Air Volume: $168.5 million
2016 Global Air Volume: $179 million
2016 Global T&E: $322.5 million
Principal Air Suppliers: American, Delta, United
Principal Hotel Suppliers: Hilton, Marriott, Starwood
Principal Car Rental Suppliers: Hertz, Enterprise
Principal Online Booking Tool: Concur
Principal Card Suppliers: Visa/MasterCard
Principal Expense Supplier: Concur
Consolidated Global TMC: HRG
Wells Fargo improved compliance for air and hotel bookings
in 2016 and increased the percentage of tickets purchased 14 days in advance.
Ninety-five percent of respondents to an internal survey were satisfied or
better with the travel management company. TMC services exceeded expectations
for 86 percent of respondents. U.S.-booked air spend declined 4 percent in 2016,
and the company anticipates an additional reduction of just over 8 percent for
2017. Wells Fargo continues to contain travel costs in 2017 as part of a
companywide cost-savings initiative. The company will implement a global
compliance process across all business units, requiring pre-trip approval for
high-cost international travel. Travelers also will need pre-trip authorization
for noncompliant air and hotel bookings. Additionally, Wells Fargo will
initiate an RFP for a global airline partner.
Correction, Sept. 18, 5:45 p.m. Eastern: BTN has updated Wells Fargo's 2016 Global Air Volume, 2016 Global T&E and Principal Card Suppliers.