Let us continue from where we left in the previous blog. We will focus on how advance bookings, flexible tickets, travelers’ perks, Travel Management Company (TMC) and, more importantly, travel management software can actually lead to increased travel savings in 2019.
It may spring some surprise, but if you’re a travel manager, encourage your employees to make booking in advance before departure, rather than just in time as it may impact your company’s bottom line with substantial cost savings. For example, a travel booking made 22 to 30 days before departure is likely to save up to 28% than made just before 7 days. Imagine how much your company can save on travel spend a year with advanced bookings.
Flexibility is an important criterion when it comes to business travel. Itineraries and dates are subject to change at the last minute. Employees needn’t always book fully flexible airfares. Usually, semi-flexible tickets can provide better value. You can make a change with a small fee, which is not possible in the case of a fully flexible fare – this indeed is a money saver.
A budget doesn’t necessarily mean it shouldn’t include any perks for travelers. Companies can provide their travelling employees value-added deals including late and early check-ins, free hotel breakfast and drinks, etc. This can bring a smile to your employee’s face, of course, at no additional cost.
Travel Management Software:
Many companies work in partnership with a TMC on a strategic basis to save money on travel. And there are others that adopt travel management software, instrumental to keeping all the travel expenses in check, both on and off-line.
Most travel management suite at the business level, nowadays, comes integrated with pre-approving trips, reporting and work flow, report dashboards, electronic payments, real-time expense reporting, T&E management, auditing and spend analysis, reporting and workflow approval, advanced analytics features, GPS & location services, mobile expense reporting, travel policy compliance features, and much more. These features are indispensable to negotiate for a preferential rate with the vendor or supplier directly. Any company or an enterprise looking to save travel costs should invest in a dedicated travel manager (read all our previous blogs on the role and functions of a travel manager). The CFO, HR and account manager should closely work with a travel manager to achieve the desired results and strengthen business.