Post a new topic
    0 Replies Latest reply on Mar 6, 2014 11:00 AM by Ethan Laub

    How does your company manage travel expenses?

    Ethan Laub Newbie

      Many small-to-midsize businesses struggle to track and control their travel expenses.  Some use a corporate travel agency, while most have employees book their trips online and submit expense reports for reimbursement.

       

      Some keys to managing your travel costs include:

      1. Establishing clear policy guidelines so employees know what travel expenses are appropriate.  For example, are they allowed to fly business class, or should they always travel in coach?  What tier of hotels should they stay in when traveling on business.  Do they have a per diem for meal and other expenses?
      2. Using a travel management solution to monitor compliance with your travel policy and alert you if someone books out-of-policy.  This is critical, because unless employees know that their bookings are being monitored, they have little incentive to book the most economical travel options.
      3. Tracking travel expenses in real-time, rather than waiting until expense reports are submitted.  This gives you immediate visibility into your company's travel spending, and provides details and analytics that help you spot opportunities to travel more efficiently.
      4. Gain access to lower airfares, hotel and car rental rates, either by negotiating your own discounts, or by using technology to continue scanning the internet for lower prices up until departure.  Low-Price Scanning services can save up to 30% on hotels and 40% on car rentals by alerting you if a lower price is found in the same area.

       

      If you want to track and reduce your travel expenses, while giving employees the freedom to book on their favorite websites, consider using a travel management solution.

       

      Cheers!

       

      Ethan Laub

      Founder and CEO, TripScanner