Discover the ways to increase your business travel savings in this blog and unlock a world where you can save a bunch & organize your business travels
Business travel is an essential part and parcel of most business ventures. In fact, corporate travel consumes a significant amount of the annual budgets of several business establishments.
With the round-the-year travels of top business executives, what is known as ‘corporate travel management’ comes to the fore. In other words, with a big chunk of revenue being spent on corporate travel, companies need to consider business travel savings carefully.
The most important question people working in the corporate travel management sector have to deal with on a daily basis is, ‘How to save money while travelling for work?’ This is a critical affair to any company owing to regular corporate travel’s financial burden on its annual finances.
The top agenda, hence, on every business establishment’s corporate travel management set-up is to chalk out a robust business travel savings plan. Ultimately, if a company is not serious about an issue such as, ‘How to save on travel expenses?,’ the firm’s costs would run into serious trouble.
One thing that cannot be that has become more evident as of late is that companies have learnt that nothing can replace in-person meetings. The digital age may allow people to converse over the computer. Still, it misses that human touch, which is crucial for all business meetings to be successful. Corporate travel is a key for businesses to flourish for various tasks such as client acquisition and looking after teams located at a distance.
Under these circumstances, it becomes more necessary to elicit business travel savings. Various reports are suggesting that business travel has increased manifold post the pandemic slump.
10 Ways To Save Money On Business Travel
To make matters better for you, we have brought forward our carefully curated pick of the top 10 best ways to help you keep your business travel savings high on the radar.
Streamline The Company’s Corporate Travel Guidelines
It always helps that a company has clear corporate travel guidelines in place for its employees to adhere to. Rather than wasting precious hours thinking about ‘How to save on travel expenses’, let the corporate travel management board of the company draw out a clear policy for all employees to follow. It would include the dos and don’ts that would go a long way in securing business travel savings for the enterprise.
Get A Pre-Travel Approval System In Place
A sure-shot way to increase business travel savings is by setting up an approval system that would monitor corporate travel engagements. This exercise would make sure business trips are well-organised and in tow with company protocols.
Keep Track Of Discounted Air Tickets
Many airlines have the option of a ‘corporate travel discount’ in their listings. By utilising this, a company can cut their expenses by a great deal. Also, several other avenues, such as getting only economy class tickets and keeping the travel dates flexible, aid in pumping up business travel savings in the long run.
Narrow Down On Accommodation Costs
It is common knowledge that business travel involves staying in hotels on a regular basis. In major cities around the world, hotels have come up near airports that cater solely to the requirements of the business traveller. Companies sponsoring their employees should keep an eye on the special offers and corporate travel discounts that these business hotels routinely give out to get the best deals for their travelling employees.
Before the employee sets out on the road, they should be briefed on the areas the company would and would cover. An example would be an additional bar and wi-fi charges.
Keep Food And Transportation Costs In Check
Since business travel savings is as much the responsibility of the company as it is of the employees, having a transparent policy on the amount of money that could be spent on food and transportation services while on the road will keep the company’s revenues in check. These days several organisations allow their personnel to spend on food and travel of their own accord and later reimburse the same. This actually spares the company the headache of releasing allowances for the same.
Book Airline And Accommodation Tickets Well In Advance
It is a well-known adage that being early helps in getting tickets in the lower range of prices. Whether airline tickets or hotel rooms, the early bird always gets the best options.
Do Not Overlook Auxiliary Expenses
Even after taking into cognisance the vital cogs in business travel, on many occasions, companies are left heaving when the final bills arrive on their desk. One of the reasons this happens is because they forget to account the miscellaneous expenses that accrue during business travels. Unexpected costs such as wi-fi levies and parking charges can show up at a time when all things seem to go well and ruin your mood.
Focus On Making Business Travels Seamless
The ultimate aim of business travel is to help your company get ahead in the race. So, ensure that your employees do not face any hiccups while on the road. The fewer issues your employees would face while travelling, the better they would be mentally equipped to work to maximum capacity. A successful meeting during one of those travels would bring more revenue to the company.
Make Examples Out Of Model Employees
Giving credit where it is due paints a good picture of a company’s image. An employee who takes the initiative in opting for cost-effective methods during business travels helps with the business travel savings of the company. Rewarding such a person raises their confidence and self-esteem and encourages other staff to follow in their colleague’s footsteps.
Hire A Corporate Travel Management Agency
What better way of ramping up your business travel savings than getting a professional team invested completely in that domain? No one will know more about business travel savings than a corporate travel management agency. Getting them on board will ensure that your company gets preferential treatment from airlines and hotels. It would also save you time and headaches by removing the task of looking after your employees’ travel itineraries and outsourcing the same to the experts.
Final Thoughts
Our assessment of the topic clearly shows that corporate travel management is all about teamwork and team cooperation. To save funds and keep business travel savings high, every single employee should know their role and act accordingly.
At Pathfndr, we have put in place the latest analytics to cater to a company’s business travel requirements. Our corporate travel experts work non-stop to get you the most profitable travel deals available on any given day. To know more about our work, check out our other blogs.
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