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How can corporates obtain GST invoice from airlines?

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It is now mandatory for any corporate entity booking air tickets either through a travel management company or directly from the airlines to reflect their GSTN in their booking to avail the benefit of the scheme, the input tax credit.

Corporates may complete a one-time registration with Air India and Jet Airways portals to access their GST invoices through the following URLs:

Air India: https://www.airindia.com/

For other airlines, corporates may log in their respective URLs as given below, fill in their details of booking and download the GST invoice:

Indigo: https://www.goindigo.in/
Spicejet: http://www.spicejet.com/
Alliance Air: https://allianceair.co.in/

Corporates have to collect the GST invoice from both from the airlines and the travel management company as well for their travel spend.

If you are a corporate and looking to claim your Input Tax Credit with GST compliant invoices, AtYourPrice is the perfect fit for you. AtYourPrice is a robust web-based business travel solution that automates travel planning, requisition, approval, fulfilment, invoicing, reporting and duty of care. Today AtYourPrice is a travel solution choice for more than 250 corporates in India.

Write to us your business travel requirements at marketing@infinitisoftware.net.

gst bill

GST Bill: A Complete Guide for Corporate Travellers

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Managing corporate travel expenses is no small task, especially when it comes to understanding and utilizing GST (Goods and Services Tax) bills. With GST playing a pivotal role in streamlining taxation and enabling Input Tax Credit (ITC), businesses can unlock significant cost savings when travel expenses are GST-compliant.

In this comprehensive guide, we’ll explore how GST impacts corporate travel, the benefits it offers, and how AtYourPrice (AYP) simplifies GST compliance for business travellers.

What Is GST and Its Role in Corporate Travel?

Introduced as a unified tax regime in India, Goods and Services Tax (GST) replaced a host of indirect taxes, ensuring a simpler and more transparent taxation system. For corporate travellers, GST applies to nearly all travel-related expenses, such as flights, hotels, cabs, and dining.

By leveraging GST-compliant bills, businesses can claim Input Tax Credit (ITC), which offsets their GST liability, thereby reducing overall travel costs. However, businesses must ensure strict adherence to GST compliance to maximize these benefits.

Key Components of a GST-Compliant Invoice

To claim ITC, a GST-compliant invoice is mandatory. Here’s what it must include:

1. Supplier and Recipient GSTIN: Both the vendor’s and your company’s GST Identification Numbers.
2. Invoice Details: Unique invoice number and date of issue.
3. Service Description: Clear mention of services like flights, hotels, or cabs.
4. HSN/SAC Code: Harmonized System of Nomenclature (HSN) or Service Accounting Code (SAC) classification.
5. GST Tax Breakdown: Details of CGST, SGST, and IGST, if applicable.
6. Total Taxable Amount: Along with applicable GST.

Without a GST-compliant bill, companies risk losing out on ITC benefits.

How GST Applies to Corporate Travel Services

Air Travel

  • Domestic economy flights attract 5% GST, while business class is charged 12% GST.
  • International flights originating from India are GST-exempt.

Hotel Accommodations

  • No GST for tariffs below ₹1,000.
  • 12% GST for tariffs between ₹1,001 and ₹7,500.
  • 18% GST for tariffs above ₹7,500.

Transportation

  • Services like cabs and car rentals levy 5% GST, while luxury transport may attract higher rates.

Dining and Events

  • AC restaurants charge 18% GST, while non-AC ones levy 5% GST.
  • Conferences and event services typically incur 18% GST.

Benefits of GST for Corporate Travellers

  1. Input Tax Credit (ITC)
    Businesses can claim ITC on GST-compliant travel bills, leading to considerable cost savings.
  2. Simplified Taxation
    GST eliminates the cascading effect of taxes, consolidating multiple taxes into one. This ensures easier compliance and transparency.
  3. Optimized Travel Budgets
    With ITC, companies can reduce their tax liability and optimize their travel spending without compromising employee convenience.
  4. Easier Expense Tracking
    GST-compliant invoices provide structured data for accurate financial reporting and audit trails.

Challenges in Managing GST for Corporate Travel

  1. Non-Compliant Vendors: Many vendors do not issue GST-compliant invoices, making it difficult to claim ITC.
  2. Complex Reconciliation: Handling multiple invoices across vendors can be tedious and error-prone.
  3. Lack of Awareness: Employees may inadvertently make bookings with non-compliant vendors, leading to compliance issues.
  4. Manual Processes: Traditional methods of GST tracking are time-consuming and prone to errors.


How AtYourPrice Simplifies GST for Corporate Travel

AtYourPrice (AYP) is designed to eliminate the challenges associated with GST compliance, providing businesses with a seamless travel management solution.

GST-Compliant Booking

Every flight, hotel, and cab booking made through AYP includes GST-compliant invoices, ensuring maximum ITC eligibility.

Integrated Travel Management

From flights to hotels and cabs, AYP consolidates all bookings under one platform, simplifying GST tracking and reconciliation.

Automated Reporting

AYP provides real-time GST reports that enable businesses to track their tax credits and manage audits effortlessly.

Policy Enforcement

AYP ensures all bookings adhere to corporate travel policies, flagging non-compliant transactions automatically.

Low Fare Recommendations

In addition to GST compliance, AYP offers cost-saving tools like Low Fare Recommendations, helping businesses save up to 8% on travel costs.

Best Practices for GST Compliance in Corporate Travel

Centralized Travel Bookings

Use a single platform like AYP to manage all travel bookings and ensure GST compliance across the board.

Educate Employees

Train employees about the importance of GST-compliant bills and provide them with a list of approved vendors.

Automate Expense Tracking

Leverage AYP’s integrated tools for automated GST tracking and reporting.

Audit Regularly

Conduct periodic audits to ensure all travel expenses align with GST compliance standards.

Conclusion

Navigating the complexities of GST doesn’t have to be overwhelming. By adopting the right tools and practices, businesses can streamline their travel management processes, optimize costs, and ensure full compliance.


With AtYourPrice, managing GST for corporate travel becomes simple and hassle-free. Whether it’s generating GST-compliant invoices or tracking Input Tax Credit in real time, AYP delivers a comprehensive solution for your travel needs.


📞 Want to simplify GST for your corporate travel? Connect with us today!

20+ Corporate Travel Statistics & Trends in India

20+ Corporate Travel Statistics & Trends in India – 2025

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The corporate travel landscape in India is evolving at an unprecedented pace, fueled by advancements in technology, shifting business priorities, and an increasing focus on sustainability. By 2025, business travel is set to reach new heights, and companies must adapt to these changes to stay competitive.

In this blog, we delve into over 20 statistics and trends that will shape the future of corporate travel in India. These insights will help businesses refine their travel management strategies and stay ahead in this dynamic sector.

  1. Corporate Travel Market Growth in India

  • Projected Growth: The Indian corporate travel market is expected to grow at a CAGR of 12%, reaching $35 billion by 2025.
  • Global Standing: India will become one of the top five corporate travel markets worldwide, driven by its booming economy and expanding business ecosystem.

  1. Increasing Focus on Cost Optimization

  • Key Concern: 63% of Indian companies cite cost optimization as their top priority for corporate travel in 2025.
  • Savings with Automation: Businesses using platforms like AtYourPrice report an 8-10% reduction in travel costs through features like real-time fare updates and low-fare search tools.

  1. Growth in Domestic Travel

  • Dominance of Domestic Travel: Domestic travel accounts for 78% of corporate bookings in India.
  • Emerging Hubs: Tier 2 and Tier 3 cities are becoming key destinations due to regional office expansions and rising economic activities.

  1. Real-Time Booking and Dynamic Pricing

  • Traveler Preference: By 2025, 82% of business travelers will prefer platforms offering real-time inventory and dynamic pricing for flights, hotels, and transportation.
  • Competitive Edge: AtYourPrice’s dynamic pricing tools allow businesses to rebook at the lowest available fare, ensuring significant cost savings.

  1. Technology-Driven Travel Management

  • Adoption Rate: 85% of Indian companies plan to implement advanced travel management platforms by 2025.
  • Efficiency Gains: Automation reduces manual tasks by 40% while improving compliance with company travel policies.

  1. Rise in Bleisure Travel

  • Blending Business with Leisure: 48% of Indian corporate travelers now extend business trips for personal leisure.
  • Policy Adaptations: Companies are updating travel policies to accommodate bleisure travelers while maintaining budget controls.

  1. Employee Satisfaction and Well-Being

  • Corporate Priority: 72% of Indian companies recognize that comfortable travel boosts employee productivity and retention.
  • Popular Preferences: Premium seating, seamless check-ins, and hotels with high-speed Wi-Fi top the list.

  1. Sustainability in Corporate Travel

  • Green Initiatives: 68% of companies in India aim to integrate sustainability into their travel programs by 2025.
  • Top Practices: Booking carbon-neutral flights, encouraging low-emission transport, and choosing eco-certified accommodations.

  1. Adoption of Virtual Payments

  • Growth Forecast: Virtual payment solutions for business travel are set to grow by 40% in 2025.
  • Simplified Reconciliation: Platforms like AtYourPrice offer seamless virtual payment integrations to simplify expense tracking.

  1. Preference for Data-Driven Insights

  • Insight Utilization: 74% of businesses are leveraging data analytics to optimize travel spending and identify cost-saving opportunities.
  • Advanced Dashboards: AtYourPrice provides detailed spending insights categorized by department, trip, or employee.

  1. Increased Demand for Flexible Travel Policies

  • Flexibility Matters: 67% of companies are incorporating flexible booking options like refundable fares and easy cancellations.
  • Risk Mitigation: These policies reduce financial risks while accommodating employee needs.

  1. Integration with Expense Management Tools

  • Unified Systems: By 2025, 90% of companies will use integrated travel and expense management solutions.
  • Efficiency Gains: Businesses using platforms like AtYourPrice and ExpenseOut report 35% faster approvals and 20% improved accuracy in expense reporting.

  1. Focus on Travel Policy Compliance

  • Cost of Non-Compliance: Indian businesses lose an estimated ₹1,200 crores annually due to policy violations.
  • Automation Benefits: Automated compliance tools from AtYourPrice reduce violations by 60%.

  1. Real-Time Support and Assistance

  • Traveler Expectations: 58% of business travelers demand 24/7 support for last-minute changes.
  • Enhanced Experience: AtYourPrice offers round-the-clock customer service to ensure a seamless travel experience.

  1. Role of AI in Travel Management

  • AI Advancements: AI-powered recommendations for itineraries, cost-effective options, and travel risk assessments will grow by 50% in 2025.

  1. Regional Connectivity and Expansion

  • Government Initiatives: Programs like UDAN are boosting regional connectivity, with a 15% rise in regional corporate travel expected by 2025.

  1. Demand for Multi-Channel Booking

  • Traveler Convenience: 81% of employees prefer booking options across multiple channels, including desktop, mobile apps, and chatbots.

  1. Increasing Complexity in International Travel

  • Policy Simplification: 45% of companies are simplifying visa processes and ensuring compliance with international regulations.

  1. Shift Towards Subscription-Based Travel

  • Emerging Trend: Subscription models for flights and accommodations are gaining popularity, allowing businesses to secure lower rates for frequent travel.

  1. Personalized Travel Experiences

  • Employee Expectations: 49% of corporate travelers expect personalized experiences, from preferred seating to loyalty rewards.

How AtYourPrice Can Help

AtYourPrice is your ultimate partner in navigating the evolving corporate travel landscape. Here’s how we make a difference:

  • Real-Time Fare Updates: Access competitive pricing for significant cost savings.
  • Integrated Expense Tracking: Seamlessly track and report expenses.
  • Customizable Dashboards: Gain actionable insights into travel spending patterns.
  • 24/7 Support: Handle last-minute changes effortlessly with round-the-clock assistance.

Final Thoughts

The corporate travel industry in India is undergoing a major transformation. Staying ahead requires understanding emerging trends and leveraging tools like AtYourPrice to optimize costs, enhance employee satisfaction, and achieve travel goals efficiently.

Ready to future-proof your corporate travel management? Contact AtYourPrice today to explore how we can simplify and revolutionize your travel management strategies.

Corporate Travel workflow and budget control

Corporate Travel Workflow and Budget Control: Insights for Smarter Business Travel

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In today’s fast-paced corporate world, business travel isn’t just about moving employees from one location to another. It’s about creating seamless workflows, controlling budgets, and ensuring both cost efficiency and employee satisfaction. As corporate travel evolves, organizations must adopt smarter, data-driven solutions to stay ahead.

AtYourPrice, a leading corporate travel management solution, empowers businesses to simplify travel processes and gain control over budgets. With innovative tools and a focus on efficiency, AtYourPrice helps companies tackle the complexities of modern travel management.

This guide explores actionable insights and strategies to help businesses streamline travel workflows, enhance budget controls, and achieve their corporate travel goals.

The Evolving Landscape of Corporate Travel

Corporate travel has become increasingly complex, requiring organizations to balance employee needs, cost efficiency, and sustainability. Here are some of the key challenges:

  • Rising travel costs driven by market fluctuations and dynamic pricing.
  • Demand for transparency through real-time reporting and insights.
  • Sustainability goals that require eco-friendly travel options.

Organizations are shifting focus from merely booking trips to designing travel programs aligned with company priorities. According to [Trusted Industry Study], businesses that invest in smarter travel solutions see up to 30% cost savings and improved employee satisfaction.

Streamlining Workflows for Seamless Corporate Travel

Efficient workflows are the backbone of effective travel management. By eliminating manual processes and disconnected systems, companies can reduce delays, minimize costs, and improve employee experiences. Here’s how AtYourPrice transforms travel workflows:

Unified Travel Booking Platform

AtYourPrice consolidates all travel needs — flights, hotels, ground transportation, and visas — into one centralized platform.

  • Real-time fare updates to access the most competitive pricing.
  • Extensive network of providers with over 2L+ hotels and transport options.
  • Integrated visa and documentation services for international trips.

This single-platform approach saves time and provides visibility into travel patterns.

Smarter Approvals and Compliance

Managing approvals and ensuring compliance can be time-consuming. AtYourPrice automates this process for faster decision-making.

  • Real-time notifications for managers on pending approvals.
  • Policy alignment tools that flag out-of-policy bookings.
  • Customizable workflows tailored to company-specific needs.

Automation ensures smoother workflows and reduces policy violations.

Advanced Expense Management

Expense management often becomes a post-travel headache. AtYourPrice integrates expense tracking with real-time reporting tools to simplify the process.

  • Proactive expense tracking to avoid overspending.
  • Categorization tools to group expenses by employee, department, or trip.
  • Automated reconciliation for error-free reimbursements.

This proactive approach helps businesses maintain control over travel budgets.

Enhancing Budget Control with Smart Solutions

Keeping travel costs in check requires the right tools and strategies. AtYourPrice delivers powerful features to help businesses optimize budgets and avoid overspending:

Low-Fare Savings Analysis (LFSA)

  • Automatically rebooks tickets at the lowest available fare.
  • Saves up to 8% without manual intervention.

Customizable Dashboards

  • Provide real-time insights into travel spending.
  • Enable managers to identify trends and areas for cost optimization.

Real-Time Inventory Updates

  • Avoid overpaying for last-minute bookings with real-time availability.

These tools empower companies to implement robust financial controls while ensuring quality travel experiences.

Adopting Sustainability in Corporate Travel

Sustainability is no longer optional in corporate travel. With employees and stakeholders increasingly valuing eco-friendly practices, companies must integrate sustainability into their travel programs. AtYourPrice supports sustainability through:

  • Encouraging economy class and low-emission transportation options.
  • Tracking and reducing carbon footprints with advanced reporting tools.
  • Promoting partnerships with carbon-neutral airlines and eco-certified hotels.

Sustainable travel not only benefits the environment but also boosts an organization’s reputation.

Why AtYourPrice is the Go-To Solution for Corporate Travel

AtYourPrice combines advanced technology with a user-friendly interface to provide an end-to-end travel management solution. Here’s what sets it apart:

  1. Comprehensive Services: Flights, hotels, cabs, and visas are all available in one place.
  2. 24/7 Support: A dedicated team ensures prompt resolution of any travel-related issues.
  3. IATA Certification: Guarantees reliability and excellence across all services.

 

Looking Ahead: The Future of Corporate Travel

The future of corporate travel is data-driven and flexible. Businesses must adopt tools that provide real-time insights, seamless integrations, and adaptability to changing needs. AtYourPrice is poised to help organizations meet these demands and turn corporate travel into a driver of success.

 

Conclusion

Corporate travel doesn’t have to be a burden. With AtYourPrice, businesses can streamline workflows, maintain budget control, and align their travel programs with sustainability goals.

Ready to transform your corporate travel management? Contact AtYourPrice today to schedule a demo and experience the future of travel management firsthand.

How to simplify your business trips

How to Simplify Your Business Trips: The Ultimate Guide for Professionals

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Business trips are essential for success, but organizing travel often feels like juggling too much at once. From booking flights and accommodations to managing expenses and staying productive, it can quickly become overwhelming. However, with strategic planning and the right tools, you can simplify your business travel and ensure a seamless, stress-free experience.

This guide will walk you through proven steps to streamline every aspect of your trips.

Partner with a Professional Travel Service

Collaborating with a trusted corporate travel partner can save you hours of planning and help eliminate unnecessary stress. Platforms like AtYourPrice offer tailored solutions for busy professionals:

  • Custom itineraries designed to fit your exact schedule.
  • Cost-effective bookings for flights, hotels, and local transport.
  • 24/7 customer support to manage last-minute adjustments or emergencies.

With a professional travel service, you no longer need to spend time hunting for deals or handling logistics on your own.

Simplify Your Expense Management

Managing travel expenses can be a nightmare without the right systems in place. A centralized tool can simplify expense tracking and reporting:

  • Digitize receipts in real-time using mobile apps.
  • Automate expense reports to eliminate paperwork.
  • Gain clear insights into travel budgets and spending.

Simplifying expense management lets you focus on your meetings and objectives instead of drowning in paperwork.

 

Prepare a Clear and Flexible Itinerary

A well-structured itinerary helps you stay on track and reduces travel-related anxiety. When creating your itinerary:

  • Include key travel details like flight times, hotel check-ins, and meeting locations.
  • Schedule buffer times to account for unexpected delays.
  • Use travel tools to map out nearby restaurants, coworking spaces, and transport hubs.

A clear, well-thought-out itinerary ensures you arrive at your destination prepared, organized, and stress-free.

 

Opt for Flexible Travel Options

Flexibility is crucial for business trips, as meetings and plans can change unexpectedly. Prioritize booking options that offer:

  • Refundable fares for flights and accommodations.
  • Easy rescheduling and cancellation policies.
  • Support for last-minute adjustments, such as extended stays or alternate flights.

Platforms like AtYourPrice prioritize flexibility, allowing you to adapt quickly without incurring unnecessary costs.

 

Prioritize Comfort for Productivity

Comfort during travel directly impacts your performance and productivity. Make simple adjustments to enhance your travel experience:

  • Book premium seats on long flights to arrive feeling refreshed.
  • Choose hotels with high-speed Wi-Fi, workspaces, and seamless check-in processes.
  • Arrange airport transfers in advance to avoid last-minute stress.

Prioritizing comfort ensures you’re energized and ready to focus on what matters most: achieving your business goals.

 

Adopt Sustainable Travel Practices

Sustainability is a growing priority for businesses worldwide. Incorporating eco-friendly choices into your business travel can make a significant difference:

  • Book carbon-offset flights to reduce your environmental impact.
  • Stay at green-certified hotels with sustainable practices.
  • Use digital receipts and tickets to minimize paper waste.

Sustainable travel not only benefits the planet but also positions your company as a socially responsible organization.

Why Choose AtYourPrice to Simplify Your Business Travel?

AtYourPrice specializes in making corporate travel seamless, cost-effective, and stress-free. Whether you’re planning domestic or international trips, we provide:

  • Customizable itineraries tailored to your specific needs.
  • Access to the best deals on flights, accommodations, and transportation.
  • 24/7 customer support to handle any last-minute changes.
  • Tools to track expenses for transparency and simplified reporting.

With AtYourPrice, you can streamline business travel, save valuable time, and stay focused on achieving your professional objectives.

 

Final Thoughts

Simplifying your business trips is all about planning, choosing the right tools, and partnering with a reliable travel service like AtYourPrice. By streamlining bookings, managing expenses effectively, prioritizing comfort, and embracing sustainability, you can ensure every trip is smooth, productive, and stress-free.

Ready to transform the way you travel for business? Visit AtYourPrice.net today and discover how we can help make your next trip seamless and efficient.

Top 30 Types of Corporate Events for Every Business

Top 30 Types of Corporate Events for Every Business

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Discover the ultimate guide to 30 impactful corporate event types designed to drive engagement, foster collaboration, and achieve business goals. From team-building activities to executive networking dinners, learn how to choose, plan, and execute events that leave a lasting impression. Perfect for businesses looking to boost morale, strengthen relationships, and showcase innovation.

Business Class vs. First Class The Ultimate Guide for Corporate Travelers

Business Class vs. First Class: The Ultimate Guide for Corporate Travelers

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Navigating the world of premium air travel can be complex for corporate travelers. Whether you’re weighing the benefits of business class versus first class, understanding the nuanced differences can save your company money and enhance travel comfort. This comprehensive guide breaks down the key distinctions, amenities, and value propositions of business and first-class travel, helping executives and corporate travel managers make informed decisions that balance luxury, productivity, and budget efficiency.

6-ways-to-reduce-the-carbon-footprint-of-your-business-travel-at-atyourprice

6 ways to reduce the carbon footprint of your business travel

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As the economic recovery gains pace after the pandemic, we are witnessing a steady rise in business travel.

Previously organizations have only implemented policies to manage the costs of travel. However, nowadays companies are also fixated on how much carbon is being emitted because of their employees’ use of flights, cars, etc., for various business needs.

Incorporating environmental sustainability into business travel can help achieve several objectives, including cutting wasteful spending, reducing regulatory exposure, and building a culture of responsible corporate citizenship.

Here are several ways to simultaneously reduce the carbon footprint and cost of your company’s business trips.

• Schedule virtual meetings

The most effective way to reduce the carbon footprint from business travel is to avoid it altogether unless necessary. Virtual meetings save the organization time and money, along with bringing down its carbon footprint. Aside from that, virtual meetings have proven to be popular among employees, as it saves them the hassle of travelling.

• Encourage alternative modes of transportation

According to Reuters, flights account for about 90% of business travel emissions. So, it would be prudent to ask your employees to prefer environment-friendly transportation for business travel. According to the research, travel by train or bus is up to 90% more carbon-efficient than air travel.

• Create a sustainable business travel policy

On average, traveling in business class almost doubles the carbon emissions. Having a travel policy that offers incentives for choosing sustainable and cost-efficient means of transport will go a long way in helping companies cut down on their carbon footprint.

Ensuring that your travel policy is focused on sustainability will also help you in getting your company various tax breaks that have been put in place by governments with a green agenda.

• Evaluate the impact of your business travel

Organizations should use a carbon footprint calculator to measure the impact of business travel on the environment. With such a tool, you can assess where most of your company’s carbon emissions are coming from and where improvement can take place. Utilizing a carbon footprint calculator is also a great way to assure investors of your commitment to long-term climate action.

• Choose carbon-neutral airlines

“Creating a sustainable aviation industry is perhaps the greatest challenge for the sector since the invention of the airplane.” —Bryan Del Monte- Former pilot and president of The Aviation Agency.

Major companies are setting aggressive carbon-reduction goals across their operations, significantly cutting carbon footprint from business travel. In fact, some major airlines are implementing carbon offset programs to mitigate carbon emissions from their airline operation. So, organizations can choose carbon-neutral airlines to achieve sustainability goals for the benefit of the environment.

• Electric vehicles- smart choice to reduce carbon footprint

Electric vehicles are the wise choice for a lesser carbon footprint. Businesses can reduce carbon emissions by encouraging employees to use electric cars or bikes for business trips. Include electric vehicles in your company travel policy, so your business travelers can bring a positive impact on the global and local environment.

Conclusion

Companies should promote sustainable travel practices to offset their carbon footprint. When business travel is necessary, organizations can prefer sustainable transport – switching from aviation to rail for shorter journeys, avoiding business class flights for longer trips, and identifying low-emission airlines. Further, you need to ensure that business travel is only considered when there is no other option.

Tackle your business travel costs and carbon emissions and start making a difference with our sustainable business travel management platform.

Schedule an AtYourPrice demo today by emailing marketig@infinitisoftware.net!

6-Business-Travel-Cost-Saving-Strategies-every-CFO-should-Consider-AtYourPrice

6 Business Travel Cost Saving Strategies every CFO should Consider

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CFOs in most companies are always tasked with two concern areas – How to control costs and how to introduce controls within the process.  Business travel is a significant cost head and is also a subject that’s directly linked to employee morale.  Travel Admin Managers and CFO’s have to tread a delicate equilibrium to balance these seeming contrarian narratives. Good news is competent, and experienced CFO’s across large organizations and MNC’s manage this well and here is how. Following are the five key business travel cost-saving (not cutting!) strategies that you may adopt in your organization.

Business Travel needs a Strategic Plan

Business Travel is both a cost head as well as a leading performance indicator. Hence the CFO has to think and prepare a strategic plan with an end objective of saving cost. However, the question is how? Well, CFOs must make use of travel analytics (by trips, functions, employee grades, cities, trip rescheduling, cancellations and so forth) to help frame strategies that effectively control costs. Further, aligning strategies to provide a traveler-centric experience and reduce trip friction contribute to smarter travel decisions.

Adopt Technology to Reduce Costs

Automation is not a choice anymore. It’s real and can save costs. Automating travel management system in your organization has to be your no.1 strategic priority.  To move it to a cloud and also on mobile ensures that your travelers can access the system for booking, rescheduling their business travel on the move. Remember, early information from the direct user means cost saving.  It also creates trusts and ownership amongst the business travelers to own up to their actions. Similarly, amongst the travel desk staff and accounts functions, it creates speed and transparency over settlements.  

Encourage Policy Compliance and exercise smart controls

As a CFO, you should encourage all the business heads including HR to frame a travel policy that’s detailed and comprehensive. Next up, hand this policy over to your business travel management partner. Periodic monitoring of the dashboard to track performance goes without saying. For the employees to buy into the following policy guidelines, it is essential to involve them in the conversation. Recurrent policy reviews involving the employees is yet another vital way to encourage compliance.

Make cost-effectiveness as part of your company’s culture

The business travel cost is dependent on many factors: travel planning cycle, seasonal demand, and itinerary, trip rescheduling and cancellations, choice of hotels, local travel among several others.  To be cost-effective inculcate the culture of planning business travel early (at least a week in advance) amongst all employees of your organization.  Be practical and create flexibility in daily allowances and how employees use them.

Partner with a Competent Travel Management Company

 A corporate travel management company is an option that CFOs should consider.  A right partner not only helps you save cost for the company but also drive the agenda of better business traveler satisfaction. Fruitful relationships give rise to many benefits in the form of discounted airfares, air travel upgrades, priority services, and lower trip rescheduling penalties. Exclusive tie-ups with airlines or a nationally present budget hotels chain can bring in both significant savings and value-added deals.

On the other hand, to improve the business traveler experience, freebies like employees continuing to get a frequent flyer and loyalty rewards program goes a long way in enhancing traveler satisfaction.

Make business travel your strategic priority and find the right travel management partners to execute your strategy to save cost and improve the business traveler experience. Go for it.