It’s hard to be certain about much of anything in business today. Consider the stability of corporate structures. The Financial Times reported in September of a global record-breaking merger and acquisition (M&A) spree, with $3.3 trillion in deals taking place as of September 2018. That’s a 39 percent increase from 2017 through the first nine months of 2018. Forces driving the M&A trend include a desire to cut costs through operational consolidation, the quest for scale to compete in a global marketplace, and favorable regulatory environments (i.e., low anti-trust enforcement) in places like the US.
M&A affects every industry. Internally, a merger can have a significant impact on global procurement, especially the travel department. The restructuring that takes place as two companies come together can be disruptive. To help you adapt to the inevitable changes that take place in an M&A situation, we asked our clients to share their tips on this kind of corporate transition. This white paper offers their perspective on how to adjust a travel management program with a newly combined entity:
- How to realign your goals during mergers and acquisitions
- What steps you need to take to adjust your travel to changes brought on by an M&A
- How to build a stronger travel program