How to slash corporate travel costs
If companies were to fine-tune their corporate travel policies and ensure their employees stick to it, corporate travel expenses can be slashed by 20%. Travel Management Company, Carlson Wagonlit Travel (CWT) tells us how.
By: DeskDemon
Top 4 tips to cutting the cost of company travel:-
Book air travel at least two weeks in advance of departure. This represents the greatest opportunity for savings, as discounts sometimes exceed 50% of the ticket price.
Buy restricted airfares. Doing so can bring average savings of 24% on total air spend, even when the cost of changing or cancelling negotiated flexible fares is taken into account.
Use preferred supplies consistently. This delivers lower overall costs than a mix of suppliers used on a 'best practice' basis. Companies save an average of 23% on flights with preferred suppliers and pay 5%-14% less per room night, depending on the hotel category.
Change authorised air class and hotel categories. Raising the minimum flight duration before business class comes into effect for the traveller can drive down costs further. And, by selecting preferred hotels in a lower category, can save approx 20% on the price difference.
