Scarlett
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... I know of one very large US-based (but globally operating) organisation that introduced a requirement for VP plus CFO approval for all travel, and they found the new approval policy resulted in a reduction of over US$1M in the first month...
I saw a similar change as NM describes, however, Aussie bloody-mindedness won out in the end: we simply spammed the relevant senior managers with so much paperwork that they couldn't complete their other work. Travel policy changed back to the previous local approval process fairly quickly!