Today more and more businesses are embracing corporate travel both on a national and global scale. This is a trend that is only set to increase, since the benefits associated with business travel are vast. From meeting up with potential clients to overseeing operations in another country, there are many opportunities to be gained. Having said that corporate travel tends to be very expensive. Thus, if your company travels on a regular basis, read on to discover some top expense management you should take into account
Companies can lose money when plans are re-arranged. Unfortunately this is something that happens more often than we would like in the world of business. A conference has to be rescheduled or a meeting has to be set back to a later date. If you have not thought about re-booking options there is every chance that you will simply lose the money you have spent on your trip and thus have to pay for a new trip again for the rescheduled date. This is extremely inefficient in terms of expenditure. Therefore, whenever you book it is advisable to go for a company that has a good re-book policy in place.
Most companies send their employees away and when they come back they reimburse them for the money spent. Instead, why not provide your employees with a pre-paid travel card? By doing this you are giving them a set amount of money and if they spend over the amount they then have to foot the bill themselves.
Invest in a travel management company
One of the best ways to save money is to undoubtedly use the services that are offered by travel management companies.. They present you with various different ways of saving money. Firstly, you will be able to save cash when it comes to booking your business trip, from the flight, to accommodation, to even car hire. This is because they have exclusive links with companies and therefore they are able to provide deals that are not offered anywhere else. Aside from this, by presenting you with all the information you need to know about the area you are going to, exchange rates and such like, you can save even more money.
Make clever savings
Last but not least, one mistake a lot of companies make is that they overlook the small savings. However, these can quickly add up. Little things, like going over the baggage allowance, can result in huge costs. You should also consider factors like Wi-Fi. It is likely you will require access to this during your trip. Imagine if you had to pay for access per hour in the hotel! It could soon turn very costly.
Jennifer Rogers has been a travel journalist for over ten years now. She has covered a vast scope of topics, from the best destinations to expense management advice and more.
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