About Lloyd’s Register Thailand
The Lloyd’s Register Group is a global independent risk management and safety assurance organisation. The group provides services designed to help clients around the world achieve their business goals, while optimising safety, quality and protecting the environment. The company has a presence in over 245 locations worldwide, including 18 offi ces in South East Asia.
FCm helped Lloyd’s Register Thailand to implement new procedures for pre-trip approval, resulting in improved traveller behaviour and a more effi cient expense management system.
Here’s how we made it possible...
FCm Travel Solutions has been working with Lloyd’s Register Thailand since March 2010. During that time FCm has helped Lloyds Register’s local operation in Bangkok to improve compliance and streamline their processes for increased expense management efficiencies.
FCm manages Lloyd’s air travel program that involves mostly domestic bookings along with some international air travel to countries apart of the Asia Pacific Economic Cooperative.
Prior to partnering with FCm in Thailand, Lloyd’s Register used a local travel agency. While there was a standard booking process there were no formal policies in place for pre-trip approvals, which meant expense reconciliation and management had become very manual. Without pre-approval, it was difficult for accounts staff to identify the origin of travel-related invoices as there were no project codes or data relating to which division needed to be charged for expenses. Quite often accounts staff were chasing trip details from individual travellers in person.
Furthermore, as there was no formal policy for trip approvals, it was diffi cult to measure and monitor compliance levels.
After conducting a thorough analysis of Lloyd’s Register’s travel requirements in Thailand, FCm suggested the company focus on three main areas to improve their local travel program. These included:
- improving booking and buying behaviour
- policy compliance
- expense management process.
As part of these focus areas FCm implemented a formal process for travel requests and pre-trip approval. This was enforced and monitored by both FCm and Lloyd’s Register. The new policy, whereby all travellers were required to get approval from their manager for each trip, was communicated to employees to ensure booking consistency.
The pre-trip approval ensured FCm could provide invoices with enhanced data to Lloyd’s Register’s accounts department for easier expense reconciliation. FCm also provides two local monthly travel reports to Lloyd’s Finance and Administration Manager, to ensure complete visibility of monthly travel expenditure.
With help from FCm, Lloyd’s Register achieved a number of outcomes including:
- the implementation of formal procedures for travel booking
- the implementation of a pre-trip approval process
- increased levels of travel policy compliance
- saving signifi cant time on the expense management and reconciliation process.
Lloyd’s Register Thailand’s response
“The introduction of pre-trip approval has helped us to enhance our travel program in a number of areas. This includes improved booking and buying behaviour from travellers, improved compliance with our travel policy and a more streamlined expense management process. These changes have made Lloyd’s Register Thailand’s local travel program more effi cient, our spend on travel more visible and staff more accountable.”
Finance and Administration Manager,
Lloyd’s Register Thailand