You may have heard the popular quote by Greek philosopher Heraclitus, “the only thing that is constant is change”. So why is the sourcing season just once a year? You need to measure the value of your rates against what is available in real time and adjust throughout the year, because a sourcing cycle doesn’t match ongoing market changes. Not only that, but you must consistently assess if your travel program fits your changing business needs as well.
The key is to invest in ongoing, dynamic program performance management so you can break the sourcing cycle and continuously improve your program. Beyond analytics and advice, here at Advito we step in and do the work. From managing suppliers to engaging your travelers and everything in between, our consultants take an active and holistic approach to achieve the best results for your company.
We will be discussing the benefits of dynamic performance management starting this month with the rise in efficiency that ongoing program performance management can generate.
You have the power to decrease the pressure and last-minute crunch of the annual sourcing cycle. Dynamic performance management is less disruptive to your staff, because it’s spread out through the whole year. This means employees no longer need to clear their schedules and focus solely on sourcing for four months at the end of every year. Instead, you should continually check in on the program and make small changes as it evolves. This eliminates wasted hours spent on big decisions that only happen a few times a year. Use that time to stay on track and focus on other company priorities.
Curious to learn more? Make sure to follow this blog, and contact us if you think DPM is right for your program.