Sovereign Specialty Chemicals Saves Time and Money
November 28th, 2002 • Partnerships
nuTravel Technology Solutions, Inc., a provider of online travel technology tools, announced today that it has been chosen by Sovereign Specialty Chemicals, Inc., a leading provider of high-performance specialty adhesives, coating and sealants, to manage the company’s travel and entertainment (T&E) process.
nuTravel Technology Solutions, Inc., a provider of online travel technology tools, announced today that it has been chosen by Sovereign Specialty Chemicals, Inc., a leading provider of high-performance specialty adhesives, coating and sealants, to manage the company’s travel and entertainment (T&E) process.
Sovereign has been live with nuTravel’s Corporate Travel Solution (CTS) since November, allowing Sovereign to proactively manage travel expenditure, better manage and enforce travel policies, and optimize supplier relationships, resulting in significant cost savings while seamlessly integrating with online expense management systems and other IT systems.
Business travel costs are the second largest category of controllable expenditures within most corporations and efficient management of this significant line item has become an increasingly critical measure of success. Through a customized branded site, Sovereign can now proactively manage travel expenditure and has cut costs by up to 30%. Reduced transaction fees, and an intelligent booking engine that utilizes soft or hard corporate policies and negotiated fares, add to improved operational efficiency. nuTravel automates the T&E expense process – from the front-end booking process, policy compliance and approval, to the back-end for reporting and fulfillment of your transaction.
“Sovereign was an early user of the nuTravel web solution. Not only has it saved us money on agency fees and provided savings through corporate policy enforcement, but the roll-out support and training was truly first class. As they continue to enhance the solution, it keeps getting better.” – Robert Erickson, Assistant Treasurer for Sovereign Specialty Chemicals.
Specifics and benefits of the CTS Solution:
- Search and book millions of airfares, hotel rooms and car rentals
- Proactively enforce corporate travel policies, no matter how complex
- Optimize supplier relationships and negotiated discount programs to leverage buying power
- Seamlessly integrate with online expense management systems and other IT systems
- Fully Branded Web Site and customized branding of user interface with corporate colors, logos and fonts
- Anywhere, Anytime Access via the Web
- Lower cost and more convenient than phone based booking
- Aggregation of travel spending and negotiation with key travel vendors for volume discounts
- Travel budget and expense analysis
- RFP creation and process management
- Travel spending forecast and ongoing travel management
- Corporate travel policy development and control
- CTS is accessible via the web and is supported by live travel consultants who supervise your employees’ travel plans and handle travel arrangements when access to a computer is not possible
- Experienced travel agents are assigned to specific accounts
- Ready access to management for travel advice and decision making
- Technical customization of new features and integration with expense management systems
- Customized reporting and analytics
About Sovereign
Sovereign Specialty Chemicals, Inc. is a leading developer and supplier of high-performance specialty adhesives, coating and sealants serving three markets: Packaging and Converting, Industrial and Construction. Since 1996, Sovereign has grown rapidly – through the strategic acquisition of established niche leaders – to become the largest privately owned adhesives manufacturer in the United States and one of the largest adhesive manufacturers in the world, public or private.
Headquartered in Chicago, Illinois, USA, Sovereign comprises over 1,000 employees working in 20 manufacturing and sales facilities worldwide to support thousands of customers.
About nuTravel
nuTravel is a provider of web-based software solutions for travel agencies, travel suppliers and travel related consumer websites. Their products enable a framework for seamlessly building and integrating distribution channels.
nuTravel connects its partners and suppliers to their customer base, leveraging technology and web based services over the Internet generating new revenue streams for our partners. nuTravel was formed to fill a gap in the travel industry providing full service Travel Management, online booking, travel expense management, travel policy management and travel profile management in a single integrated solution to Corporations and Travel agencies.