Like most businesses, your business travels are an essential part of your operations and productivity. As you know, it's expensive to spend on corporate travel. So, how can you save corporate travel costs in 2023? Here are 5 must-do things to save business travel costs in 2023
One of the best ways to immediately start slashing travel costs is to get a better hotel and serviced apartment inventory. Businesses that use websites designed for leisure trips are missing out big time. Corporate Worldwide Stay has a large inventory and offers choices across 6,00,000 and 2,00,000 serviced apartments in over 185 countries for you to choose from. The inventories are a mix of fully and semi-furnished serviced apartments with kitchenettes, condos, townhomes, and single family homes for short stays or extended stays. The Corporate Worldwide Stay travel advisors advocate the best available options based on stated cost, comfort, and reviews.
Business trips if planned well in advance can save a lot of costs, especially for flights and stays. Flexibility in travel dates and traveling during the week are key to reducing costs. The most important aspect of flexibility is booking a serviced apartment instead of a hotel that offers the same amenities or even better amenities than a hotel. Serviced apartments are usually more cost-effective than hotels and it’s important to consider it.
At Corporate Worldwide Stay, we ensure that we make your business trip as convenient as possible how do we do it? We book your stay in the closest vicinity making sure less commute time and no traffic hassle. We make your stay convenient so that you can focus on business and achieve your desired goals.
A basic level travel policy within the corporate structure of the organization is crucial. Without the policy in place, it is difficult to narrow down on budget and company travel expenditures. Corporate travel policies should outline the company's position on elements such as;
Air Travel: Employees can book flights in economy class and may be reimbursed for the difference between economy and business class fares.
Accommodation: Employees must comply with the per diem allowance rules set by the government.
Ground Transportation: Employees must comply with the approval process for booking hotels and other ground arrangements for corporate travel.
Business Credit Cards: Employees who are approved for a business credit card will be provided with a personal account number and will have access to all of their spending activity on the card.
When you cut travel costs, it’s important to tell your employees “WHY” do you need to do so. For example, if you’re looking to save money on business travel, one way is to implement a budgeting system that allows you to track and compare costs with previous years. This will allow you to see how much each employee is spending on their travel and what can be done to reduce it.