Elements of a Strong Corporate Travel Program

In order to make the most of your corporate travel budget, it is critical to plan for leveraging your program for all it is worth. Telling travelers to select the lowest logical airfare is just not enough. Here are the elements that should be considered when planning or evaluating your travel program.

1. Travel policy

A well written and disseminated travel policy is the foundation of any good travel program, and I am consistently amazed that so many corporations have such an outdated and poorly conceived travel policy, if they have one at all. It is not difficult to find a well written policy. One can be found online quite easily. All that remains is that it is edited to reflect corporate culture, and disseminated within the company so that everyone understands and agrees to follow it. For this reason, it is a good idea to have everyone sign a copy of the travel policy to ensure that it is read, understood and owned by all company staff. I suggest that everyone in the company signs a copy of the travel policy, whether they travel or not. They may change positions in the company later and be required to travel.

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Base Tendriling Travel Expenses

As business travel expenses nose upward, companies are realizing that better cost-management techniques can make a difference

US. corporate travel expenses rocketed to more than $143 billion in 1994, according to American Express’ most recent survey on business travel management. Private-sector employers spend an estimated $2,484 per employee on travel and entertainment, a 17 percent increase over the past four years.

Corporate T&E costs, now the third-largest controllable expense behind sales and data-processing costs, are under new scrutiny. Corporations are realizing that even a savings of 1 percent or 2 percent can translate into millions of dollars added to their bottom line.

Savings of that order are sure to get management’s attention, which is a requirement for this type of project. Involvement begins with understanding and evaluating the components of T&E management in order to control and monitor it more effectively.

Hands-on management includes assigning responsibility for travel management, implementing a quality-measurement system for travel services used, and writing and distributing a formal travel policy. Only 64 percent of U.S. corporations have travel policies.

Even with senior management’s support, the road to savings is rocky-only one in three companies has successfully instituted an internal program that will help cut travel

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What Travel Agents Need to Know About Corporate Travel Today

This is rightly named as the age of traveler-centricity and with the evolution of the new era of personalized travel; it is leading to research and development of a host of new so-called intelligent services. The command-and-control perspectives of traveling have changed a lot from the past and the focus has shifted more on the traveler and the productivity of each trip. It has become essential to maintain that the travelers have the greatest return on investment on each trip. New generations of young employees and managers, who have been growing up and dwelling in a digital age, are moving up the ranks as travelers. It has become essential to recognize the need for greater flexibility acknowledging that the employees who travel on corporate trips also consider a percentage of their trip to be a leisure outlet. With increasing globalization and rise in companies sending their staff overseas to network and connect with their offshore prospects/customers/suppliers, corporate travel is a highly profitable tourism segment. Before we talk about how tourism companies can better cater to business travelers, let us first look at why they prefer to use specialized corporate agencies over traditional agents

Why do businesses use Corporate Travel Agencies?

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