With inflation growing faster than the historical average, it’s not surprising that travel managers are seeking ways to keep costs from spiraling out of control.
The easiest solution, of course, would be to cut the number of trips employees take. But there’s a reason business travel has bounced back from the pandemic: Face-to-face meetings are effective when closing deals, building teams, and helping to move the business forward.
It also might occur to travel managers to cut the cost per trip. But this, too, can present problems. Setting a cap on trip costs, for example, could keep employees from achieving the goals they set out to accomplish while on that trip. Prevent employees from effectively performing their jobs, and it’s a lose-lose.
So how can travel managers cut costs while maintaining an effective travel program? Read on and download the following guides to find out:
Inflation is just one factor when it comes to managing finances. Fortunately, travel managers have the power to control hard and soft costs and help ensure the success of the business, regardless of the financial climate. Here are some of the steps travel managers can take, as outlined in the inflation-fighting guide:
Get more tips on how travel managers can control hard and soft costs with the guide, Inflation-Fighting Checklists for Corporate Travel & Finance Managers.
Everyone is still adjusting to the challenges of working with a hybrid workforce—and that includes travel managers, since everything from travel patterns to travel policies has changed. This TripActions guide describes several of those challenges and serves up solutions. Another big issue is compliance. When travelers don’t book on a company’s travel platform, they’re not taking advantage of special negotiated rates, which makes trips more expensive. And companies struggle with adoption, according to Phocuswright. But an intuitive, all-in-one solution can help; TripActions customers like Datto and Nilfisk have seen an increase in adoption rates. One of those changes has been the focus on gathering remote workers together for team-building. And when companies use third-party tools or have travelers book through consumer channels, they’re not taking advantage of the negotiated rates mentioned above. TripActions offers a team travel tool, which surfaces those cheaper rates and makes group bookings seamless.
Get more secrets for controlling costs with a hybrid workforce: Download the TripActions guide, 10 Cost-Cutting Tips For Travel & Finance Managers With a Hybrid Workforce.
A recent study from Forrester took an in-depth look at the many benefits awaiting enterprises that choose to adopt an all-in-one travel, corporate card, and expense solution like TripActions. For starters, such a system can significantly increase operational efficiency—especially when it comes to employee expense reports. As one manager explains in the report: “Instead of saving receipts from the trip, maybe losing half of them, and then expensing for it at the end of the trip, employees are submitting the expense report and receipts while they’re on the trip. And it’s taking just minutes instead of an hour or so.” Reduced travel spend is another benefit of TripActions, according to the report, thanks to:
See how all of these benefits can help reduce your travel program costs by downloading these guides: