Open for Business Podcast: Navigating Unused Tickets & Waivers
Finance, operations, HR, risk and travel managers are starting to think through how they best support their organizations when business travel inevitably resumes -- from ensuring the health and safety of traveling employees to helping their organizations control costs.
COVID-19 forced many organizations around the world to halt travel and cancel nearly all future flight bookings. The vast majority of these tickets were non-refundable, which typically would result in lost value. However, given the unprecedented times, most airlines adjusted their policies to offer waivers so the value of these tickets could be used towards future bookings.
Now, imagine the challenge of keeping track of unused tickets and waivers across thousands or hundreds of thousands of travelers in any given company. In some cases, organizations have millions and millions of dollars in what now amounts to prepaid travel credits.
How can they track and manage these to ensure no company money is left on the table? How can they effectively help their organizations control costs and save money as business travel resumes?
In this episode of Open for Business, we sit down with Paul Huang, Global Director of Travel Operations at TripActions, to look at the unused ticket and waiver dilemma facing many organizations and their travel managers today.
We frame the challenge and talk through solutions on the fifth episode of Open for Business: A Corporate T&E Podcast Powered by TripActions, which is now live across all streaming podcast platforms.
In this episode of Open for Business: A Corporate T&E Podcast, we’ll discuss:
- Why unused tickets impact the bottomline
- How organizations managed unused tickets in the past
- The technology behind the TripActions solution for unused + cancelled tickets
- Why and how companies can take advantage of waivers now
- Strategies to ensure no money is left on the table
Next week we’ll be looking at the future of loyalty programs and how frequent flyers can make the most of recent industry changes. If this is your first time tuning in, check out our previous episodes:
- Episode 1: “Building a Culture of Health at Home & On the Road” - Learn how prioritizing physical and mental health for business travelers impacts the whole organization.
- Episode 2: “What Happens When Business Travel Stops” - Get prepared to resume business travel, safely and responsibly.
- Episode 3: “HR’s Elevated Role in Business Travel” - Learn more about the important role that HR professionals play in the return to business travel.
- Episode 4: “How Airports & Airlines Will Transform” - Explore the future of air travel with two leading aviation journalists
Subscribe to Open for Business: A Corporate T&E Podcast Powered by TripActions today on your preferred podcast platform and join us every Tuesday morning for the latest conversation on corporate travel and expenses. We’ll be sitting down with big-picture thinkers and decision-makers from around the globe to address the many T&E topics on the minds of business travelers, corporate travel managers and finance, operations and HR leaders.