Organizations cannot engage in business travel without taking on the additional risks that are inherent to sending employees abroad. Whether you are sending a sales team on the road to drum up business or your vice president is flying overseas to speak at a conference, things like flight delays, service interruptions and even political and social unrest can create personal risks for your travelers and financial and liability risks for your organization.
Compliance with your corporate travel policy is important for reducing the overall cost of business travel at your organization and ensuring the safety of employees that travel on your behalf. Corporations that publish a corporate travel policy with the goal of standardizing travel and controlling costs may still incur undue costs because of non-compliance with the policy, which can often leave the company on the hook for over-priced bookings and extra fees.
As you publish your corporate travel policy, it's important to start considering how you will communicate the policy to employees and how you will promote and enforce compliance. Here are six best practices you can adopt for corporate travel compliance.
A corporate travel policy is a document that establishes guidelines and procedures for every aspect of corporate travel within your organization. From submitting a travel request, to booking flights and hotels, through to submitting expense reports for meals and entertainment, a corporate travel policy provides an accountable and consistent standard for controlling costs while employees are traveling on company business.
Travel expense management is the most common reason why organizations establish corporate travel policies, hire a travel manager and implement an enterprise travel booking solution. These are just a few of the tools and resources necessary for organizations to effectively meet the challenges associated with travel expense management.
But, what are the biggest travel expense management challenges that these corporations are facing? What's making them act now to drive down costs and increase the efficiency of their travel spending?
Wondering how to book corporate travel in 2019?
Travel managers are facing three critical challenges when it comes to booking corporate travel in 2019:
Keeping travel costs down as much as possible
Ensuring that employees have the tools, resources and funds they need to succeed while they’re on the road
Reducing the administrative burden of corporate travel and ensuring that systems scale efficiently