Are unnecessary travel expenses causing a serious burden on your bottom line?

According to a recent report, business travel takes up to 31% of a large company’s budget. Therefore, it is crucial that companies should constantly find ways to save money and avoid unnecessary time wasted.

There are four basic ways companies can do just that:

1. Work with an agency

Whatever the size of your company, travel agencies are eager to enter into partnerships to help you find the best airline or hotel deals.

2. Clear corporate policy

There are no two ways about it – all companies should have a corporate travel policy. The more concise and consensus-driven your policy, the more effective your team will be. It’s advisable to engage with your staff, listen to their opinions on their issues and use that information as a framework for your policy.

3. Plan well ahead

Long-term strategic planning is key. It enables you to have a better overview of your team’s travel schedule and where and when a team member needs to represent and attend several meetings on one specific trip instead of doing multiple trips.

4. Explore alternatives

Did you know flying to regional airports generally cost less? Apart from the monetary savings, it will inevitably save you time too.

These simple guidelines enable companies to attend important meetings while not having to waste unnecessary time and money.