We’ve seen at length how having a robust business travel policy is of prime importance. Companies not subscribing to pre-defined corporate travel policy suffer from non-compliance, increased travel costs, escalating business costs, unreliable travel partners and operators, etc. Though there are lot many companies adopting corporate travel policy, according to a 2011 survey of US business travellers, firms that haven’t have suffer the brunt of the disadvantage stated above. Let’s see in detail how companies that don’t embrace a defined policy lose the travel game:
Inefficient & inconsistent T& E management – Companies that fail to adopt travel policy have found their business trips to be highly inefficient, unsystematic and inconsistent. This is due to travel employees booking and arranging travel with travel partners, suppliers and operators of their choice. Lack of set process within defined parameters can mask visibility of even the vital travel & expenses (T&E) data and information. This, in turn, can drive inefficiency into the system as the travel manager is left bereft of making informed travel decision and improvements in targeted travel policy.
Failing to partner with TMCs – Organizations that have partnered with travel management companies (TMCs) have benefitted a lot out of their industry knowledge and experience. Firms that haven’t, thinking that it may be expensive, would possibly end up paying more at the end of the day.
Increased travel costs – Because TMCs have rich travel industry experience, their supplier relationship is usually robust. And organizations that don’t partner with TMCs miss out on the advantage of reduced travel and booking rates compared to those firms having strong partnership and contract with TMCs. In other words, their process is well set with well-established contracts in place.
Failing to adopt travel-based management technology – A cloud-based travel management tool like Tripeur can make light work of business travel data monitoring and analysing the data set for travel process improvement. What about firms that fail to notice the advantages of such management tools and apps? They fail to determine the areas of weakness in their corporate travel policy and they remain grey areas forever such as individual T & E, traveller location, just to name a few.
Inefficient Risk Management – Organizations that do not have a set business travel policy overlook employee risk management aspects during travel and thus, the required wherewithal for emergency communication – primarily, travel management tools or apps that ensure safety of the travelling employees.