Business travel is a quintessential part of running a business, but it can be a daunting task as it can also be a significant drag on your bottom line. But there are always ways by which you can slash your corporate travel budget, and here are a few ways you can actually achieve it without reducing the amount of your travel.
Book in advance
Last-minute travel can be, at times, unavoidable in business, but when you have time to schedule a trip in advance, you can make substantial savings. Furthermore, a study by Concur, a travel management company, indicates that booking prior to eight days before department can actually go on to save $148 per ticket. But what if you already have an established travel system in place, or after we assist you in developing the travel system for you, we can help augment your online booking system with our expert travel desk professionals to meet all your offline booking requirements in a snap.
Travel Policy
It is important that employees comply with your company’s travel policy and ensure that you do not reimburse expenses that are not allowed by policy.Therefore, we help your company generate better results by analyzing how your employees go about with their travel choices, how often they go with the company travel policies and how effective they are. For instance, the ‘Travel Policy Wizard’, a value added module of one of our products namely ‘Travel Policy Assistant’offers comprehensive inward-looking intelligence with how any policy is tweaked and how your employees need to get motivated to stick with the policies.
Travel Analytics
Any firm that spends a substantial amount of money on business travel would actually want to know the how and where of expenses, and how they can be optimized. As most companies rely on manual processes, they are struggling to capture the required information in a structured format. This means the travel service provider would go the extra mile in making the company contented with their custom-reports. Shorebird offers real-time analytics and metrics of several facets of business travel. While you can find the key metrics data with Tripeur, the more comprehensive and advanced performance analytics is offered by BizTravelytics, a Value Added Module.
In summary, the answer to your need to optimize travel expenses is “technology”. Once you deploy an end-to-end travel & expense management system such as Tripeur in your organisation in a systematic manner, you will get better visibility and control into your expenses, and you will be able to achieve the impossible feat of reducing your travel budget while not compromising on the amount of travel by your employees!