The question that we are often inundated with is “What is a good time to consider a travel management tool suite or platform? The answer is as simple as how far the corporate reach is. Often companies that break geographical boundaries report increasing business travel expenses. In some companies these costs can reach astronomical proportions that they struggle hard to effectively monitor and manage these expenses. Also a reliable study points towards the fact that travel expenses accounts for the second largest controllable expenses outside of benefits and wages. In few worst-case scenarios, travel and entertainment (T&E) expenses masquerade itself as a travelling employee’s personal expenses.
As with most business challenges there can be a number of solutions. We have already discussed at length about the implementation of a Corporate Travel Policy and how to adhere to it tenants in the previous blog posts. This is the first step towards tightening the screws. It is the responsibility of the employees of an organization to adhere to an established corporate travel policy.
Thiagarajan Rajagopalan, founder of Tripeur says,” A travel management tool like Tripeur can not only bring travel expenses down by price negotiation means, but also facilitate secure bookings for airlines and hotels.” Besides, they offer logistical support for corporate travellers as well 24/7 emergency management in cases of cancelled flights and other logistical issues that surface during business travel. The best part of any travel management tool is that it can track down and manage an organization’s travel expenses and help in expenses reimbursement.
In several companies, there has been that added dose of responsibility on HR managers and administrative assistants who don the role of a corporate travel manager on a make-shift basis. The result: they spend less than 50% of their time performing their regular tasks —for which they were hired — and more of the newly assigned task of travel management. Though these are ‘soft expenses’, they can eat into the growth and profitability of an organization, and not to mention the morale of a disgruntled overtaxed employee.
“For a growing business that is looking to reduce travel management cost, improve operational efficiency, and convenience over time and also one that is not considering dollar-for-dollar offset, Tripeur can do wonders in terms of reducing strain on employees’ shoulders and their increased focus on day-to-day business operation. This might require a closer look at what Tripeur can do,” says Manish Raj, Co-Founder of Tripeur.