CWT (5th in Travel Weekly’s Power List 2021) provides corporate clients with the option to pay for their services with a subscription fee instead of a transaction fee.
The subscription model simplifies billing and budgeting and makes the process more transparent, CWT says.
Each month, companies that choose the subscription model will receive one recurring invoice for the products and services they receive from the travel management company. The fee is based on the projected volume of transactions and the products and services they require; if the required products and services need to be changed, the fee will be adjusted accordingly.
CWT spent the past year testing the new model. According to CWT, feedback “has been overwhelmingly positive” and testers reported that it saves time when reconciling invoices and provides clarity on costs.
“As part of our ongoing commitment to simplify business travel for everyone, this new fee structure will not only simplify the pricing and billing processes for our customers, but also provide them with inline volume discounts that are not inherent in the transaction fee model,” the post reads. Brady Jensen, CWT Vice President of Finance and Head of Global Pricing.
“Unlike transaction fee models,” Jensen added, “this new billing model bills only one simple and comprehensive monthly bill, rather than multiple, making it much easier to monitor and manage business travel expenses and forecasting for corporate travel managers.” .