Tips for Reducing Your Travel Expenditures

We are thrilled that corporate travel continues to pick up as our clients resume in-person team meetings, attend training events, and meet with clients and partners. Our leisure agents are busy, which also indicates many are taking those long awaited family vacations they have been putting off for a few years.

As a corporate travel partner management provider, it’s our job to help manage travel needs, provide access to exclusive industry discounts and negotiate on your behalf with airlines, hotels, and other suppliers directly.

We can analyze your overall travel behaviour and identify cost savings opportunities hidden in your reports and data.  We are also here as advisors to help develop robust travel policies that will help you achieve all of your other travel program goals.

Here are a few other ways you can reduce your overall travel expenditures.

Are You Overspending on Unmanaged Travel?

Unmanaged travel costs time and money. A robust travel policy can help you realize savings from suppliers and prevent employees from making decisions with their personal preferences in mind. Your travel program should increase policy adherence and give details on travel spend reporting, allowing the travel program savings to reveal themselves quickly and if you currently have any gaps that need to be filled. Negotiating on your behalf is exactly our game.

Revamp Your Corporate Travel Policy

A clear and concise corporate travel policy can help employees understand expectations and spending limits. By setting clear guidelines for booking travel, employees can make informed decisions that align with the company’s goals and budget. A travel policy can also include incentives for employees who make cost-saving decisions.

Using your past travel expenditure data to help plan future policy requirements helps set up sustainable travel programs that save the company money.

*Check in with us for a consultation to help you analyze your reports to see if we can help you solve any of your current challenges or if we spot any opportunities. We have been in this game for over 20 years and we are here to help!

Flight Pass Analysis

Analyzing your travel data allows us to calculate the impact and savings in purchasing Airline Flight Passes.  And we can then report on the impact of these Flight Passes as you use them!

Opt for Premium or Economy Class Options

Encouraging employees to book premium or economy-class flights can help save money on corporate travel. In most cases, business-class flights can cost many times more than economy-class flights. However, if business-class flights are necessary, companies can consider negotiating discounted rates or setting a cap on the maximum allowable cost.

Book in Advance

Booking travel arrangements well in advance can help secure lower rates for flights, hotels, and rental cars. Additionally, booking in advance can help avoid last-minute price hikes due to high demand. Encouraging employees to plan and book travel well in advance helps save money on corporate travel.

Leverage Technology

First, Concur is our preferred online booking tool to help you manage corporate travel expenses and policies. Using this online booking tool can help you to reduce booking fees. Additionally, Concur’s expense management tools help streamline the reimbursement process and provide valuable insights into spending patterns to help inform future travel policy refinements. If you would like to learn more about how to access additional use and functionality for your organization let us know!

Second, our Credit Tracking technology helps ensure you use as much of your unused airline credits as is possible. You don’t want your credits to expire unused!

If you are interested in revamping a travel program or starting one, we would be happy to help advise you on the best practices for successful outcomes from your travel policies.

Reach out to [email protected] to set up a free travel analysis consultation.