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How to Reduce your company’s Business Travel Spend?

We all agree that Business Travel is an investment. The moot question is how to do we reduce the cost and improves efficiency & impact on the business results. Let’s address a few ways to reduce business travel cost.

1: Balance cost saving & employee friendliness

 Automate your Business Travel Management System and empower the employee to book their travel online. It minimizes confusion, delays and empowers them to choose the travel option that best suits their need. After all, employees are your most significant brand assets. Don’t put them in less convenient and unfriendly travel experience.  Negotiate hard with your travel partners to get you better deals and value-added offers without adding cost.

2: Implement Company Travel Policy

You have invested considerable time in deliberating, developing and approving a Business Travel Policy for your company. Now it’s time to implement it. It’s easier said than done. Automating your travel management system drives 100% adherence to travel policy and approval matrix workflow. This one strategic move can bring substantial transparency in your business travel process.

3: Change Travel Culture.

There can be nothing better than creating a culture of responsible booking within the organization. Imagine your employees being pro-active in making their travel arrangements! However, this can be only possible when you empower your employees to choose their preferences and offer some lucrative giveaways on their smart business travel planning.

4:  Use Insights based on Data

Access to dashboards and customized reports can provide you with a wealth of insights on business travel within your company. You can set alerts whenever there is a deviation.  It can help you plug loopholes and make smart travel policy changes. A well-interpreted travel data saves cost and enhances value.

5: Design efficient processes

 Being responsible for your employee's travel arrangements, it is your most significant interest to ensure that the internal & external sub-processes surrounding Business Travel Management run efficiently.  Seeking feedback from employees, HR, Travel desk staff and service providers give you a wealth of data to streamline your processes and remove bottlenecks that hinder faster travel and best deals.

Post travel, an expense management system integrated with your travel management system keeps confusion at bay and help in quicker settlements of travel expenditures.

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