Cost of travel: Reducing without compromising the traveller experience
In our daily lives, we have a wealth of online resources available to help us to plan, book and compare the cost of travel ranging from air, hotel, car hire, rail and ground transportation. The range of websites available to us are enabling us to shop and find the best rates for our personal leisure travel needs. The transparency available in the leisure travel world has now filtered into the corporate travel market with the majority of Travel Management Companies (TMCs) now offering an online travel booking tool loaded up with similar rates to what we can find on Expedia.com, Skyscanner.com, Booking.com ect.
Travel Buyers often find themselves caught in the middle of senior members of the business who are trying to reduce costs across the business and frequent travellers who spend time away from home and want the best travel experience possible.
Is there a way of satisfying the budget holders, the travel buyer and the frequent traveller?
To adequately manage the cost of business travel you have to be able to see the full trip cost. That is not just a train and hotel but the coffee that was purchased before a big meeting, the Wi-Fi purchased at the hotel and the lunch purchased before the train home. Your company could have a ‘cheapest on the day’ travel policy but if travellers are spending extra on ancillary costs that are charged at premium such as hotel breakfast & drinks and food on board a train journey this can increase the cost of travel.
By integrating travel and expense management, companies can visualise the whole cost of travel with minimal leakage. So how does this reduce costs without impacting the traveller quality? Well lets use the example of a hotel booking that states employees but book the cheapest rate within a mile radius of the destination. This particular rate charges extra for WI-FI, Breakfast and Parking, all items a traveller needs and can be reimbursed within policy. So with the price of the room plus all the extras added this room may no longer be the cheapest, it could be a long way off being the cheapest. This leaves the budget holder unhappy as hidden costs are driving up the price of travel and the traveller dissatisfied as they may feel undervalued having to stay in the cheapest hotel available on a given night.
By visualising all elements of travel spend, it enables companies to build and enforce policy which helps companies keep the cost of travel down whilst offering travellers travel options that can help give them the best experience when travelling for business. To find out how Traveldoo are helping clients globally achieve these savings, please direct message me to arrange a demo.