CWT, the business-to-business-for-employees (B2B4E) travel management platform, has introduced a new subscription fee model to offer its customers simple and transparent pricing and billing. Companies can now receive a single, recurring monthly invoice* covering fees for all the products and services they procure globally from CWT, saving them time, whilst also simplifying their travel cost budgeting.
The subscription fee is based on several criteria, including a company’s forecasted transaction volume and any value-added products and services they may require. The model also offers flexibility, as the fee can be revised if a customer needs to change the scope of products and services included in their subscription.
“As part of our ongoing commitment to simplify business travel for all, this new fee structure will not only streamline our customers’ pricing and billing processes, but afford them built-in volume discounts that are not inherent to the transaction fee model,” said Brady Jensen, CWT’s VP of Finance and Head of Global Pricing. “Different to Transaction Fee Models, this new billing model issues just one simple, comprehensive monthly invoice as opposed to multitudes, making monitoring and managing business travel spend and forecasting that much easier for corporate travel managers.”
CWT has piloted subscription fee billing with a select group of clients over the past year. The feedback has been overwhelmingly positive, providing clarity into their TMC spend as well as significantly reducing the amount of time their finance teams spend reconciling TMC invoices. New clients indicated the model eliminated their biggest billing bugbear of unanticipated or hidden fees, which they had historically experienced prior to joining CWT.
“We are very happy to have switched from the transaction fee model onto the new subscription model,” said Heather Allegrina, Global Travel Manager at ServiceNow, one of the companies to participate in CWT’s subscription program. “It reduces the administrative hassle quite significantly. As a high-growth, global company, it gives us the flexibility and reliability to forecast and measure quickly and easily our travel investment to support our scaling strategy.”
*Except countries with local restrictions
CWT is a Business-to-Business-for-Employees (B2B4E) travel management platform. Companies and governments rely on us to keep their people connected – anywhere, anytime, anyhow. Across six continents, we provide their employees with innovative technology and an efficient, safe and secure travel experience backed by our three core promises: to simplify corporate travel, to connect to unlock possibilities, and to move forward, together.