ITILITE’s travel management software is a complete solution to a company’s business travel challenges. Along with offering a travel self-booking tool, ITILITE is also a travel management company. It has partnered with the top vendors to provide employees with the largest travel inventory of flights, hotels, cabs, etc. Moreover, It has an AI-enabled algorithm that displays the best trip options for employees and reduces manual efforts of scrolling through the long list, enabling them to book their own travel in less than 90 seconds on its intuitive UI. ITILITE reduces the overall travel booking time by optimizing the approval workflow and real-time notifications.
Many business travelers these days travel frequently for work purposes. But most of them lack experience and expertise in making travel plans.
In addition, they must manage common business travel challenges like delayed flights, disappointing hotel rooms, and tracking expense receipts.
To make it easier for employees to plan business trips and deal with travel contingencies, many enterprises employ a corporate travel consultant. A business travel consultant or corporate travel agent is a professional who helps employees organize business trips and make travel arrangements without putting in extra time or effort.
ITILITE’s travel management software is a complete solution to a company’s business travel challenges. Along with offering a travel self-booking tool, ITILITE is also a travel management company. It has partnered with the top vendors to provide employees with the largest travel inventory of flights, hotels, cabs, etc. Moreover, It has an AI-enabled algorithm that displays the best trip options for employees and reduces manual efforts of scrolling through the long list, enabling them to book their own travel in less than 90 seconds on its intuitive UI. ITILITE reduces the overall travel booking time by optimizing the approval workflow and real-time notifications.
If you are about to travel on a business trip and are making plans, it is definitely not the time or occasion to carry your pajamas. Family vacations and business trips are not the same. Managing business trips requires consideration of expenses, priorities, and dates. Meticulous planning is necessary to ensure your comfort, safety, and efficiency. Amongst all this, you must also adhere to the budget regulations of your company.
This guide will unpack all the dos and don’ts to watch out for when managing business travel.
10 Dos and Don’ts for a well-planned business trip
These are the essential factors of business travel management to ensure a successful trip.
The Dos:
#1 Do read the company travel policies and practices carefully
Wherever you happen to travel, you must first remember to familiarize yourself with the company travel policies regarding your business trip. Feigning ignorance and then violating corporate policies or protocol would be unprofessional. Instead, talk to your immediate supervisor or reporting manager to clarify what you need to know to follow policy compliance.
#2 Do seek a suitable travel platform
A professional business travel management platform like Itilite is always ready to meet all your demands whenever you need them. You need a travel service that is informed about the subtleties of corporate travel management and can support you because they will regularly check for the offers and schedules most beneficial to your business.
#3 Do collect receipts and be transparent concerning payments.
What does your business plan to do to manage traveler receipts for reimbursement purposes? You can easily keep your expenditures in check and get reimbursements using a platform that supports digital receipt monitoring instead of hard copies.
The best course of action is to save all invoices so that your company can verify when you submit a claim for reimbursement. That way, the expense report becomes effortless, and your likelihood of committing blunders gets reduced while everything is sorted out and arranged. You should check with your manager or human resource department if you have any doubts regarding company refunds.
#4 Do prepare for emergencies
Travel has the scope for many potential interruptions. Missed flights, delayed or canceled trips, natural calamities, and diseases are a few examples. A solid contingency plan can effectively protect stranded business travelers. It would be wise to review company policies and develop a suitable backup plan immediately to mitigate any unprecedented situation.
#5 Do create a checklist of everything you require to carry on a business trip
Business trips may sometimes be hasty and unplanned. As a result, you can be prone to overlooking the necessities. It’s usually helpful to have a corporate travel management itinerary and checklist available, whether it’s on your smartphone or desktop.
The Donts:
#6 Don’t make last-minute arrangements
The key to staying on top of your travel and expense budget is to plan in advance whenever possible. By doing this, you can benefit from reduced prices, bargain for extras like window seats or legroom, and organize your itinerary more easily.
Most businesses have a favorite airline service, so if you have one, you may be able to make deals and get benefits like reduced luggage costs and upgrade your travelers whenever available.
Make sure to explain to your travelers the advantages of making early reservations, but also ensure you have a corporate travel management system that can assist you in making changes and avoiding fees. These additional costs can sometimes total several dollars on every booking.
#7 Don’t let time slip your mind
Sometimes we can get so caught up in our tasks that we may not remember to look at the time. So, you should be careful to arrive on time by setting alerts or receiving reminders, particularly if you need to hop on a plane.
#8 Don’t neglect to store and backup data
We all prefer to keep safe in everything we do, especially while we travel. So, try to ensure that you store and back up everything before you get set to go. While gadgets can change, missing crucial information at the nth hour might completely alter the tenor of your business travel.
#9 Don’t carry everything you got
If you’re one of those worriers, packing more than you need may cause your business travel to take longer than anticipated. Imagine that you have to haul a ton of baggage through the airport. The experience of getting past security checkpoints, locating storage on an airplane, and calling for a taxi or hiring a car can be significantly unpleasant and consume too much time. Whereas, when you travel minimally, your journey will go quickly and less stressfully.
Look into upgrading your traveling luggage by buying a conventional black rolling suitcase. Especially if the only bag you own is an outdated backpack that you have been carrying on your field trips since college. Update to a luggage brand with a more polished appearance and one that easily slides into plane storage spaces.
#10 Don’t have too many controlling processes
Nobody likes to experience micromanagement. People cannot reach wherever they must go quickly if your company’s business travel policies don’t permit customization or have restricted accessibility to expedited security services.
Business travelers seek comfort and safety. The accounts department is interested in determining who is taking the trip and how much it will cost. The travel coordinator wants to streamline the approach. While the business traveler only wants a comfortable business trip.
Luckily, when you use a basic travel management program, you may make it easier to arrange trips and keep costs in check while also assisting passengers in selecting the best solutions.
Closing Thoughts
Although thank-you emails usually get sent after a hiring process, you can also consider mailing one after a work trip. Sending a thank-you letter to a customer, prospective buyer, new associate, or event organizer can create a brand image for your company. Further, it allows you to build connections and maintain a dialogue after the visit. Modern business travelers are inclined to reserve direct bookings through a website, OTA, or travel agent. However, it is challenging if the company is making reservations for different travelers. Integrate with a platform designed exclusively for business travel and speed up hotel bookings. With the Itilite corporate travel management application, you may obtain assistance in finding the most affordable rates on hotels and flights.
It costs roughly $990 to $1,293 to go on a three-day domestic business trip. Although spending is necessary for business travel management, travel expenses can negatively influence the company’s net income, particularly for small businesses. Basically, a business travel market spends over a trillion USD of someone else’s funds. Simply put, business travelers are employees who are not using their own money; they are using the company’s budgets.
Employees don’t deliberately aim to splurge money on corporate travel-related trips. But they also don’t have an excuse or reason to save. Hence saving on budgets for corporate travel may seem daunting, particularly if your staff needs to fly to various destinations all year. The estimate of an overseas corporate travel cost is often $2,600 or more occasionally.
Still, small businesses can find ways to reduce expenses without sacrificing the safety and comfort of their traveling employees. Here we curated some of the most effective strategies for reducing your company’s corporate travel costs.
7 Simple ways to reduce travel costs
#1 Seek services with multiple options
Research and look for corporate travel services with an extensive flight inventory for your small business. Be careful when choosing flight tickets because they can be overpriced. If you have travel plans, choose an inexpensive airline, have flexible dates, and stick with economy flights. So, you can save plenty of money.
Unless actually required for a travel plan, get flexible flights that allow you to pick your return ticket. If other options exist in your region, consider them as well. Possibilities include trains as they are frequently cheaper. Besides, you can complete tasks on your desktop while traveling.
#2 Set up a multi-tiered approval system
Putting a mechanism in effect to manage booking authorization is among the easiest methods to save small business travel costs. By communicating who approves a trip, you won’t face the issue of cancellations after booking, resulting in wasteful spending.
Create a booking tool online provided by your travel management company and use it to the fullest extent possible. It allows more control over your small business travel plans. You can decide whether employees can make accommodation and travel reservations using a suitable platform. Then you can conveniently keep track of all employee travel bookings. That way, you can respond right away to their requests.
#3 Streamline your company’s corporate travel policies
It’s essential to have a corporate travel management policy. Implement processes for expenditures, bookings, and fees while on the travel booking platform. Establishing specific rules can support your company users in making choices that adhere to company guidelines and avoid incurring extra expenses that impact your revenues negatively. Your traveling executive may not understand whether an upcoming trip complies with the spending plan without set rules and regulations.
Check your current small business travel policy carefully to ensure it covers all the guidelines necessary to support any eventuality in travel expenses.
#4 Reserve in advance
While we understand that sudden travel plans are occasionally part of work, if you can organize the itinerary date much ahead, you may save a ton of money. That’s the cardinal rule of cutting costs for small businesses. Booking rooms and tickets in advance is usually a good idea when traveling for business because the prices will rise as the date gets closer.
#5 Rewards and incentive schemes
Your employees can help you save big money when they choose a cost-effective way to travel.
Thus, the expense saved by the company can build up over time. So offer your employees a reward for making additional savings. Recognize the ones that help you save money on travel and accommodation. Incentivize them with a gift card to a preferred retailer, a percentage of the money saved, or even vacation or days off.
Most hotel chains and airlines provide complimentary rooms or plane tickets as incentives for a loyal clientele. They call it the “frequent travel rewards” or “frequent flyer program.”
While it is not realistic for big businesses to include such rewards in their travel budgets, small businesses can apply them to save expenses by tens of thousands of dollars annually.
# 6 Maintain a reasonable budget for food and logistics
Allowing your small business employees discretion on their expenses for travel and meals may eventually help encourage responsible spending. For instance, a corporate traveler can decide what amount they will spend on meals when the company fixes a per-day food allowance.
Of course, you can anticipate outliers, so plan to save those five-star restaurant wine-and-dine meals for your most valuable client appointments. A small business may urge staff to adopt the most affordable method by asking them to use shared taxis, public transport, or Uber wherever possible. You can also pay your employees who use their personal automobiles.
#7 Reduce accommodation expenses
If your company’s travel strategy bases itself on a few preferred hotel brands, you might lose out on the best deals and steals. When you spread your possibilities and alternatives to booking with serviced apartments for extended stays or Airbnbs, you can save money and improve the traveling experience for your staff.
Sometimes, even with the same hotel, room prices differ. So planning ahead can result in significant benefits. You can allow your business travelers to pick their own accommodations. That’s great, but be careful to specify a price cap. Additionally, you may mention that standard rooms are the mandatory accommodation category and indicate upfront if you’ll ever be paying for minibar expenses, Wi-Fi service charges, etc.
The Bottom Line
A report predicts that the worldwide business travel industry will increase at a compound annual growth rate of 7.88% with around $1.5 trillion in value from 2022 to 2027.
Obviously, a small business would want to make the most of its corporate travel budget. Finding the information on the right platform will not be difficult.
To reduce the burden on staff time, choose an online travel application like Itilite that can connect with an expense management system and create data automatically. Utilize this information to detect patterns and gradually improve your spending. You can control total trip spending by determining which locations and itineraries require smaller budgets.
ITILITE’s company travel software is a complete solution to a company’s business travel challenges. ITILITE’s software offers a self-booking tool as well as an integrated travel management company. It has partnered with the top vendors to provide employees with the largest inventory of flights, hotels, cabs, etc. Moreover, It has an algorithm that displays the best trip options for managers and reduces manual efforts of scrolling through long lists by enabling them to book their own trips in less than 90 seconds on its intuitive user interface.
A frequent question businesses ask is, “Will this travel management company be a good fit for our business?” And this is the one companies probably also need to determine: what features to look for when choosing a travel management agency? If you look at the travel industry en masse, you have many options, but not all of them may suit your establishment. One of the big reasons it’s so paramount to pick a good travel management company is that they can provide the professionalism and expertise to make the best travel decisions.
Choosing a travel management company can be a difficult task, but you should be cautious. Here are a few tips to help you decide which one is the best for your business.
A travel management company can help you make business and personal trips easier, so you can focus on what’s most important.
But many are confused by the difference between a travel management agency and a travel management platform. So let’s start by understanding each.
What is a traditional travel management company, and what is a travel management platform?
Travel management company
A travel management company is a service provider that handles business travel. There are small and big travel companies, some less focussed on innovation and technology than others. They take care of travel for your employees. They may also offer companies around-the-clock customer service.
A company may generally designate an account manager at the travel agency to assist with all your business’s travel-related activities. They will ensure that company policies are adhered to and provide customer service for all company travelers. They establish connections between corporates and service providers in the supply chain.
These travel agencies offer many benefits, such as:
Booking hotels and flights for your company
Preparing your travel schedule
Creating travel packages
Compiling travel paperwork
Organizing and planning trips for your employees
Offering assistance and alternatives for trip cancellation, reschedulings, etc.
Providing corporate rates and contracts for individual and group bookings
Business travel management platform
A business travel management platform has a comprehensive suite of applications and tools to help your business organize and prepare for travel, reduce stress and risk, simplify communication and coordination, and optimize operations. By automating the pre-travel process, your business will save time and money on pre-trip and post-trip work. Additionally, using a reputable platform will protect your business by providing comprehensive coverage even in an emergency or a worst-case scenario.
How to choose the best travel management company
Find a travel management company that helps streamline your workflow and keep you organized. Here are a few tips on choosing a good travel management company:
Do your research
Before making any decisions, do due diligence and find the right platform for your business. Ensure you consider the features, pricing, and support options before signing a contract.
Consider what you need
Since each company carries its own needs, it is critical to consider what you need when considering a business travel management company. Some travel agents offer comprehensive event planning capabilities, while others may focus on logistics only.
Benefits and features of the ultimate travel management company
The ideal travel management agency will provide a complete business travel service.
Cost saving/ corporate rates
Negotiating with suppliers can be profitable in any business. A good travel agency will negotiate a competitive rate for your company with the vendor.
Timely and efficient management
Business travel has become a vital part of daily operations as most organizations do business globally. Travelers and organizations require travel companies to ensure timely and efficient travel management.
Customer support
The right travel management company should provide you with customer advice and support from an in-house designated travel manager 24/7.
Customized itinerary
A corporate travel management company handles travel for your company and much more. They manage business tours, make group bookings, hire cars, organize MICE events and help you organize all elements of your company’s business travel.
Hassle-free
They can remove much of the hassle inherent in managing several teams, various locations, and aspects of your business.
What a business travel platform solution can provide
Best inventory and rates
The best business travel platforms offer a wide range of flights and hotel rates. Thus, you can take advantage of steal deals and industry-leading bargains.
Next-level integration
Corporate travel management software is an integrated, web-based solution and a valuable resource.
Automation makes it easy
You can ease your workload by automating tasks and finding unique travel solutions.
24/7 support system
It provides access to information, support, and advice from experts or professional chatbots 24/7.
Advanced analytics
Travel managers can access real-time data, accurate reports, and actionable insights.
Saves expenses
You can save up to 30% on operational costs and improve the travel experience for all employees. A platform allows you to maximize your travel and control your spending.
Autonomous, fast service, saves time
This solution offers quick booking in 90 seconds, planning trips, and customer support.
Customized solutions and tracking
You can create a personalized itinerary for each trip, amend bookings, track expenses, manage travel for everyone traveling with your company, and so much more.
All-in-one platform
Whether you are a business traveler or a company travel manager, a comprehensivebusiness travel management platform is your one-stop solution for checking availability, scheduling flights, planning train bookings, tracking expenses, and managing distribution and payment in cashless mode.
No stress, no worry
Business travel software is an essential travel management tool to integrate scheduling and expense tracking with a suite of accounting features.
Streamlines compliance
Business travel management software helps to streamline your day-to-day travel operations in compliance with relevant company policies.
Closing thoughts
The next generation of leisure and business travelers prefers to make their own reservations and explore alternatives. But, most corporate travel management companies have not upgraded to the new age. They expect you to phone a helpdesk and write countless emails to make a reservation. Post-pandemic, a corporate service that provides only human contact services cannot support your company in automating travel policy compliance. Therefore, you require both innovation and human assistance. A travel management platform like ITILITE can provide these services.
