What should your company do to keep corporate travel expenses under control? The first step is to incorporate a corporate travel program. We give you the 5 keys necessary to implement it.
Business trips are a headache for financial managers of companies. Undoubtedly, proper management of this type of expenses is essential to keep the economy of the company under control.
A fundamental step to save on your business trips is to have a corporate travel program.
What is a corporate travel program?
It is a document that ensures compliance and control of expenses without giving up the freedom of employees when choosing the most convenient options for their trips. Among other aspects, it regulates:
- The territorial scope of corporate travel
- The budget
- The type of transport, hotels or restaurants admitted
- Payment management
In addition, it defines the tasks that must be completed and the people responsible for their execution and management.
Keys when implementing a corporate travel program
Take note of these 5 keys so that the corporate travel program becomes an effective business travel management tool:
1. Incorporates an effective and concise corporate travel policy
Write the document and make sure that all your employees know it and comply with its standards.
2. Close agreements with suppliers
Find associates with experience, reputation and an infrastructure that ensures you take advantage of the best prices.
3. Join loyalty programs
You will save a lot of money if you always turn to the same suppliers or establishments and make use of their promotions for regular customers.
4. Has the right technology
It will help you improve processes and maintain a comprehensive control of travel costs.
5. Make a correct data collection
It will allow you to analyze the expenses and assess what are the areas where a negotiation is feasible and necessary.
Do not forget that this document is considered as part of the company’s strategy. So its correct definition and compliance will ensure greater control of expenses, which will have a direct and positive effect on your company’s finances.