Business travel can be expensive if not managed properly. Even though remote working is becoming more popular, companies sometimes need to send team members to meetings or conferences in different regions or countries.
This guide will show you how to save your company time and money by using tools like business travel cards and corporate travel discounts.
Corporate Travel Discounts for Cost-Efficient Business Journey
You can make the most of corporate travel discounts and use tools like travel cards or online booking systems to make your journey cost-efficient. Here are some strategies to maximize the benefits of these tools that can help companies save money and provide added convenience for employees.
Corporate Travel Discounts: Travel Tools to Use
Join Business Travel Programs: Sign up for special programs designed for people who travel for work. Airlines, hotels, and car rental companies offer these programs to give frequent business travelers discounts, benefits, and rewards.
Use Business Travel Cards: You can make the most of your business trips by using cards designed for travel. These cards can offer rewards, cash back, or other benefits. When choosing a card, look for features like access to airport lounges, insurance for your travels, and no fees for transactions in foreign countries.
Get Corporate Travel Discounts: Talk to hotels, airlines, and car rental companies to arrange corporate rates for businesses. Many service providers are happy to give discounts to companies that promise to do a certain amount of traveling.
Centralized Booking Tool: Planning your travels can be made simple using a centralized booking system or a travel management platform. This way, you can keep track of your expenses, ensure you follow the regulations, and even get better deals from suppliers.
Corporate Travel Discounts: Benefits of The Travel Tools
Hotel Upgrades and Savings: Travel cards may provide benefits such as room upgrades, complimentary breakfast, or discounts on hotel stays. These perks can provide a more comfortable and cost-effective experience for business travelers.
Exclusive Airline Benefits: Certain business travel cards are tied up with specific airlines, offering special perks like priority boarding, complimentary checked bags, and discounted in-flight services. These advantages can result in savings and improved travel experiences.
Car Rental Savings and Upgrades: Some business travel cards offer discounts or upgrades when travelers rent cars from specific companies. This feature can lead to substantial cost savings, particularly for businesses with car rental needs.
Rewards and Cash Back: Many travel cards have rewards programs that let companies earn points or get money back on travel expenses. You can save these rewards for future trips, and it will reduce the total amount you have to spend on travel.
Airport Lounge Access: Certain high-end business travel cards offer the perk of accessing airport lounges, which provide a cozy and efficient space for business travelers. These lounges will let you enjoy extra amenities like Wi-Fi, snacks, and drinks.
Foreign Transaction Fees Waived: Business travel cards can be the best choice for international trips because they often don’t charge fees for transactions made in foreign currencies. This feature helps you save money compared to regular credit cards, which usually have fees for such transactions.
Travel Insurance: Your travel card might include insurance coverage. This insurance covers trip cancellation, rental car, and travel accident insurance. It helps you financially if something unexpected happens.
Expense Tracking and Reporting: Travel cards often provide tools to track and report expenses. This feature makes it easy to watch and manage the money spent on travel, giving a clearer picture of how the company is spending its funds.
Concierge Services: Exclusive business travel cards often come with concierge services that can help with travel plans, like booking flights, hotels, and car rentals. This feature can save time for busy professionals.
Purchase Protections: Business travel cards may offer purchase protections, like extended warranty coverage and purchase security, which give extra security for business-related purchases.
Employee Expense Controls: Company travel cards let businesses set spending limits for individual employees, which helps control expenses and ensure everyone follows company rules.
Account Management Tools: Many corporate travel cards have online tools to manage accounts. Companies can track expenses, see transactions, and make reports. This feature makes it easier to get reimbursed and manage budgets.
Priority Boarding and Upgrades: Some travel cards give benefits like getting on the plane first and the chance for upgrades. This feature makes traveling more comfortable and efficient for employees.
Customized Reporting: Business travel cards often have features that provide expense reports. This function makes it easier to match expenses, oversee the company’s finances, and make informed decisions toward expense management.
More Steps For Getting the Best Corporate Discounts
Build Travel Policies: Create and enforce clear policies for travel to help employees make cost-effective decisions. Ask them to choose affordable options and follow the company’s travel guidelines.
Seek Group Discounts: If you have employees traveling in a group, ask for discounts on flights, accommodations, and transportation. Group bookings often come with special rates and advantages.
Be Flexible with Dates and Times: Stay open to different travel dates and times. Off-peak periods or mid-week flights and accommodations may offer lower prices. Consider adjusting your travel plans to take advantage of cost savings.
Train Employees on Saving Costs: You can train employees to save money during business travel. This step may include using cheaper transportation, selecting budget-friendly accommodations, and choosing cost-effective dining options.
Consider Alternative Accommodations: Explore alternative options for hotel accommodations, such as serviced apartments or vacation rentals, especially for prolonged stays. These alternatives may provide cost savings compared to traditional hotels.
Review and Renegotiate Contracts: Regularly review contracts with travel service providers and renegotiate terms to ensure that your business continues to receive the best rates and benefits.
Summing Up: Maximize Corporate Discounts
To save money on business travel, you can use strategies and manage your trips actively. This way, you can take advantage of discounts and benefits offered by corporate travel cards. When choosing a travel card, consider your company’s needs and preferences. The best thing to do is to review the terms and conditions, including fees since different cards have different features and benefits.
If you want to leverage the best corporate discounts, you can partner with a travel management company like ITILITE. We work with top airlines and hotels to offer the best discounts and deals. With ITILITE’s corporate travel card, you can set spending limits and issue cards to employees as needed.
