Business travel costs can mount up fast if not effectively managed. Here are our top five tips on cutting precious pounds from you travel budget:
1. Reduce the duration of trips and the number of people who go
Sounds simple but so many companies fall into this trap. For example, does the trip need to be three days, or can it be done in two? Turn three comfortable days into two busy ones and you save a third off accommodation, car hire and other costs for the trip.
The case becomes even more compelling with European travel, as the early departures and short duration of so many European flights makes it possible to get a full days work done in an alternative location.
Finally, re-evaluate the need for multiple travellers. Technology now allows a single individual to structure, manage and report on meetings that would in the past have required a number of people, and other members of the team can be conferenced in via phone or the internet. One person doing the job of two means you cut your travel costs in half.
2. Book economy class for shorter trips
More and more we find companies are choosing economy class tickets where previously business class was the norm. Business class tickets are often only used when certain criteria are met, such as duration of flight. As economy class seats now deliver an experience (and leg room!) that would have been unthinkable a few years ago, it becomes far more acceptable to book economy tickets.
3. Let sales people sell
Whether your travellers are sales people, senior management, or service suppliers their time is expensive and valuable. It’s important then that they are not spending several hours booking what they think is the best deal for a flight, putting it on their credit card and filling in an expense form which then needs to be checked and reimbursed by your accounts. Their time and your money can be saved by managing this process externally.
4. Manage your travel costs effectively
A good travel management company (tmc) will find the best option for you, both on price and availability. Your tmc will also think laterally for you and suggest options with regard to routes and timings. This lateral thinking cannot be matched by searching the internet alone, and will ensure that the most efficient travel itinerary is booked.
5. A ban on business travel
Your last and final resort, ban business travel. Rely on conference calls, webinars, video conferencing etc. However, remember that people buy from people – there is no real substitute for the shaking of a hand and talking face to face.
