Total Cost of Mobility (TCM) is not to be mistaken with Total Cost of Ownership (TMO), TCM is a significantly broader analysis of business travel and works to deliver the true cost of travel to the user. By considering the finer details of travel when working out Total Cost of Mobility, businesses can get a stronger idea on the exact cost of their travel, saving them a large sum of money over a long-term basis. The following headings are aspects of travel that may be overlooked.
The most common overlooked cost when considering travel is that of micro-journeys, meaning the door-to-door journeys such as the taxi to the train station. By considering the Total Cost of Mobility and including expenses like these micro-journeys a business sees a much more accurate and truthful representation of their travel expenses. Mobilleo’s journey planner takes these micro journeys into consideration when booking travel for businesses or for individuals meaning all bookings can be made within one app saving not just money, but time as well.
Food and Drink
Included within business travel expense is the money spent on food and drink between journeys. The amount of expenditure made on food on drink depends on the length of the business travel, for small journeys it may only incur one drink as expense but for longer journeys full meals may need to be accounted for in your business travel expense. Measuring your TCM will include this within the overall total and therefore allowing the business to adapt their budget to accommodate this.
When travelling a user may need to book an overnight stay at a hotel, Total Cost of Mobility includes this within its overall expense calculation. Mobilleo can assist with this as it allows you to browse a range of hotels within the platform, all fit for the purpose of your business travel needs. For example, you may need your hotel to be close to the train station, Mobilleo would provide you with all available options of hotels within a small distance from the train station.
Private Hire / Fuel costs
If a user was booking a more private form of business travel such as car hire, it may skip a business owners’ thoughts to consider the expense of fuel for using this vehicle. By ensuring you have properly assessed your Total Cost of Mobility means that these costs will be considered and accounted for. This can also be applied to situations where the most convenient parking for the business travel is not free, this charge can be planned for within the budget when calculating your TCM effectively.
The previous example of why analysing your Total Cost of Mobility is important for businesses were specific instances where it can save money, however on a larger scale such as fleet management measuring your TCM is just as critical as it permits the user to manage and track where expenses on their fleet are going and where possible ‘lost’ money can be saved. On a scale this size it would be saving a significant amount of money for businesses.
Altogether, knowing your business’ Total Cost of Mobility is essential to running an optimised system for business travel. Not only can you expect to see huge savings when analysing where money is headed and where it is headed unnecessarily, but a business will very quickly begin to see organisation appear which will even be appreciated by the employees as it makes a stressful business journey undoubtedly easier. Furthering on from this, using Mobilleo to assist in calculating and managing your TCM means that all necessary bookings made by either the individual or business are all consolidated into one platform, further optimising the act of booking business travel.