Are you looking for cost-reduction strategies which can be applied to your organisation’s business travel budget? From partnering with specialists and planning ahead to updating your travel policy, here are 3 ways you can cut your business travel costs.
1) Partner with a Travel Management Company
Key to your cost-saving strategies, partnering with business travel specialists such as Thompsons Travel means that you will benefit from our years of experience and exceptional product knowledge, immediately impacting your bottom line.
Our dedicated team will develop an in-depth understanding of your business and explore every cost-saving opportunity by streamlining booking processes. Plus, our significant buying power as a consortium means you always receive the most competitive rates on your travel requirements.
2) Book in Advance
Last-minute travel is an unavoidable reality in business. Research shows that business travellers can spend up to 200% more for flights booked the day before travel, while the lowest airfares are generally available 21 or more days before departure.
In addition, schedule changes at the eleventh hour all too often result in higher-than-usual travel costs. To mitigate the impact of price fluctuations, you could consider implementing an advance purchase strategy. Booking in advance will further save you money by giving you a broader range of options on flights, lodging and car rental.
3) Seek Alternatives within Travel Policy
Your first step towards saving time and leveraging cost-saving strategies is to ensure that you have a well-defined travel policy in place. An essential framework for your organisation’s travel programme, your travel policy should provide specific guidelines to ensure that all employees are on the same page when it comes to their travel arrangements, responsibilities and budgets.
As your trusted travel management partner, Thompsons Travel will assist you in developing your travel policy with implementation and proactive monitoring for company-wide compliance.
With 40 years of experience in business travel management, we can work together with you to craft cost-saving strategies which meet your business travel requirements and align with your overall goals. Contact Thompsons Travel today.