How to cut the cost of business travel without compromising quality
Corporate travel remains an integral part of many companies’ operations, facilitating networking, employee wellbeing and expansion into new markets.
The trouble is, rising travel costs are putting a real strain on budgets, and many businesses have had to cut back on corporate travel or switch to virtual meetings.
And, for those already struggling to balance budgets with business needs, reducing expenses without sacrificing the quality and productivity of corporate travel is crucial.
Fortunately, as experts in the field, we can offer some practical advice. Using a strategic approach and the right partners, businesses can achieve significant savings while maintaining high standards of business travel, and here’s how.
Plan ahead and be flexible
One of the simplest but most effective ways to save money on corporate travel is to plan as early and thoroughly as possible. Booking group flights and accommodation well in advance can lead to significant savings, especially for popular destinations or during peak seasons.
Making arrangements in advance like this gives the team plenty of time to choose the right tools or providers, shop around and compare options.
Not only that, but flexibility is your friend if you want to save money. Travellers who can depart on weekdays or fly during more unsociable, off-peak hours can often access lower fares.
Set and communicate clear travel policies
There’s no denying that companies with clear, well-communicated travel policies are more likely to manage their budgets more effectively. These policies should include details on:
Preferred airlines, hotel chains and tour providers
Booking timelines
Expense limits, such as daily allowances for meals
Reimbursement procedures
It’s important that these policies clearly outline what is considered reasonable spending and discourage unnecessary upgrades or luxury bookings unless approved by the business.
What’s more, carefully defining what constitutes ‘business quality’ can prevent overindulgence and ensure consistency with travel spending across the company.
Use corporate travel management tools
Travel management platforms can streamline the booking and expenses process. These tools can monitor travel spending in real time and offer centralised dashboards where travel plans and expenses can be tracked across departments or teams.
This gives finance departments more control and insight into where the money is being spent, making it easier to ensure that all employees are following expense policies.
Additionally, some travel management tools provide data reports that help identify patterns or areas where savings can be optimised further in the future.
Book with a group flight specialist
There are several reasons why multiple employees might need to travel together, particularly for MICE travel, as booking as a group can unlock significant savings. The problem is, booking flights for a large group of travellers can be a logistical nightmare.
This is where a group flight specialist like BTG Travel Management becomes invaluable. We work directly with the top airlines to secure lower fares for group flight bookings. We can also provide more flexibility with names, changes and payment terms, something that you’re unlikely to get through standard booking channels.
By using a dedicated group flight consolidator, your business can ensure consistent pricing, coordinated travel logistics and higher reliability, especially when it comes to dedicated group travel support.
Leverage loyalty programs and corporate rates where you can
There are lots of airlines, hotel chains, car rental companies and other travel-related brands that offer valuable loyalty benefits and corporate discounts. Over time, these perks can add up, including free upgrades, lounge access, priority boarding, and even complimentary nights or services from hotel chains.
Encourage employees to enrol in these loyalty programs where relevant. When multiple employees regularly travel with the same providers or use the same brands, companies can leverage their collective volume for better-negotiated rates, savings and upgrades.
Encourage alternative communication when appropriate
We understand that virtual meetings can’t replace in-person interactions, but it’s worth evaluating if every trip is necessary.
For example, is it really worth flying to New York for a two-hour meeting, even with a high-profile client or partner?
If you can cut back on trips that could be just as efficient when conducted via video conferencing tools, you free up room in the budget (not to mention time) for more meaningful corporate travel and events.
With that in mind, it’s essential to encourage all employees to critically evaluate whether a physical presence is necessary or if a virtual solution can suffice for certain meetings.
Are you ready to work with a flight specialist?
Cutting the cost of business travel doesn’t have to mean compromising on comfort or efficiency.
By planning ahead, setting clear policies and working with the right specialists and vendors, your company can achieve a balance between cost efficiency and a high-quality travel experience.
If you’d like to get started on booking group flights, we can help you secure the best deal for your next corporate trip. Simply get in touch with our talented team of flight consolidators today.