Ways to Reduce the Cost of Employee Business Travel

by Richa Sharma content marketer

A crucial aspect of any business is travel; you or your employees would need to travel not just in your own country but across the world to network, nurture contacts and grow as a business. However, have you ever wondered about the costs involved? It is very important that you seek the help of a business travel management agency/ company to manage expenses and keep costs at a reasonable level.

Use of technology/software

Most TMCs have a comprehensive travel and expense management software. This means you gain access to flexible finance solutions. The TMC’s solutions mean you can do away with merchant fees on credit cards, and save money. Also, a TMC will look for the best deals available and get you bookings at the lowest rates even while maintaining standards.

When you hand over your travel management to a firm, it means they have a strategy in place specifically for your company’s needs. They may have a corporate hotel programme that helps them get easy deals and discounted rates. You may not be able to achieve this on your own/at an individual level, but when a professional company handles it there are deals aplenty. Hotel chains also have a rewards and loyalty programmes that will help you make good use of it, if you or your employees book there frequently. TMCs have partnerships with hundreds of hotels across the world as part of the corporate hotel programme to give you the best experience.

Fare finding system

Travel management companies/agencies have a fare finding system that helps compare airlines and travel and track costs.

Travel policy for uniformity

One more benefit of business travel management is access to a comprehensive and uniform travel policy. This gives you insights in what travel is absolutely essential, what is not, how many days etc. The travel policy also includes details on the kind of hotel to book, and what rate brackets employees should be looking at, among others.

Encouraging advance bookings

Also, you get data on how much to spend and allocate for a specific travel. These insights help you stay planned and not waste money at the very last minute. Last-minute travel may be unavoidable under certain circumstances, but it always helps to book in advance for the best deals. A TMC helps create a booking platform where an employee can handle bookings on their own and also receive alerts, emails or notifications on best deals. The agency will let you know the best day to book for the cheapest rates.

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Source: https://yourexpertguide.wordpress.com/2018/07/09/how-to-reduce-the-cost-of-employee-business-travel/