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OBTAINING BUSINESS SPEND CLARITY A Travel and Transport Statesman Case Study

Business Growth Fund (BGF) was set up in 2011 to help the UK return to sustainable growth. It unlocks the potential of growing businesses by investing growth capital of between £2m and £10m in return for a minority stake in the business and a seat on the Board. It currently employs more than 50 investment professionals who work in major cities across the UK.

The Challenge

BGF wanted to introduce the same cost and governance control it looks for in potential investments into its own organization. As travel and entertainment (T&E) was predicted to be a large area of the BGF’s future spend, it was important for the company to find a solution that offered financial clarity, simplicity and opportunities to make its money go further.

BGF needed a simple process to record all T&E transactions and activity, which would help to control costs and increase profits. It needed to be fully integrated, accessible across an office network and practical for mobile workers.

The Solution

We brought our experience in travel management and combined it with Concur, as we had done previously for different clients in various sectors, to create a custom service for BGF. This meant we were able to bring T&E data under one roof in a fully integrated system, making it simple and easy to manage.

It was a single system solution. It made the recording of T&E transactions and activity much simpler, more transparent and helped BGF to see where its money was being spent and how the team could make significant savings.

The Result

Mobile workers who travel to visit existing and potential investment projects are now able to record their activities using our mobile service. BGF employees now have a tailored and industry-leading system in place.

BGF now has a system which provides financial transparency and value for money – which is something it likes to see in all current and future investments – and can be adapted and built upon in the future.

Would you like your travel policy to match with wider company goals? Get in contact today to find out how Travel and Transport Statesman can help.

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