By Carmen Stinson on Nov 28, 2018
2 min read
Next year will be characterized by the rise of corporate travel. Companies worldwide are adopting new and cutting-edge strategies to stay on top of the business, so corporate business travel in 2019 will be marked by several trends which we will try to cover in this article.
Nowadays many companies are losing money, time and resources in travel management that requires lots of hours of manpower. In the end, it costs them a lot. If you’re looking for ways to up-end your business travel management to the current trends you need to know a few things.
Employees want to book their travels
Millenials want to exercise choice and control when it comes to booking travel. Companies traditionally have office managers or executive assistants designated to manage travel. How can we find balance?
There are online booking tools that are customized with travel policies and payment efficiencies, allowing office managers to enforce travel policy electronically, while travelers make their own bookings.
Travel policy is fundamental when it comes to the booking process
It all starts by defining a travel & expense policy. Both HR, Finance and Operations are stakeholders in this process.
The archaic way to handle corporate business travel is to have an endless thread of emails going back and forth between employees and administrators, causing delays and in the long run making the company waste money for an activity that the travelers themselves can handle on their own.
Allow for technology and proactive training to help your company and your travelers.
If not tracked, it can’t be managed: this old saying is the base for corporate travel management. By consolidating travel with one Travel Management Company, your company gains visibility on trends.
Chief Financial Officers want full oversight on corporate business travel spending so they can identify problems, optimize their corporate travel policies and make spending optimal. Travel management should have data gathering built in their mechanisms.
Flexibility and convenience
Policies should be written identifying exceptions. Booking tools should be able to reflect hierarchies and new trends, and be easily customizable.
Travel & Expense technologies allow the traveler to gather data without the use of paper. Receipts and invoices tend to get lost in the shuffle of travel, so the use of electronic wallets are a convenient way to ensure accuracy on spend.
Click here if you want to know about some corporate travel safety tips.
By: Carmen Stinson
Director, Global Corporate Travel Sales & Operations