BUSINESS travel is an essential part of the operation for many companies, but it can also be a major expense. The cost of transport, accommodation, food and activities can all add up, which can be a real issue with many companies currently feeling the pinch during the economic strife at the moment. So, what can businesses do to cut their travel expenses in the current economic climate? Keep reading for a few ideas that should help.
Be Flexible With Times & Dates
First, you should have some flexibility when it comes to the times and dates of your travel. Keep in mind that it is a lot more affordable to travel off-peak, so you should look to move things around and travel when it is more affordable to do so and you might also be able to benefit from deals to make further savings.
Choose Accommodation Carefully
The accommodation can be a major cost to cover yet you do not want to put staff up in a cheap, uncomfortable hotel in the middle of nowhere. Instead, serviced apartments are a great option as they are good value for money and can provide comfortable and private accommodation. You can make savings by booking serviced apartments as they are self-catered, which gives more freedom and cost-saving ability to your team.
Sacrifice Some Convenience & Luxury
It is also worth looking for a few ways that you can cut corners to make savings. Obviously, you do not want to make the trip difficult for staff, but you should find that there are a few conveniences and luxuries that could be dropped to make savings. As an example, using public transport to get around or not paying for parking at the airport can make a big difference to the total amount that you have to spend.
Use Reward Schemes
Businesses will always want to retain customers and this means that you can benefit from various reward schemes to keep costs down. This can include everything from air miles to coffee, so you should always keep a look out for reward schemes that will help you to make long-term savings.
Think About Return on Investment
In difficult economic times like this, it is important to think about return on investment when spending any kind of money. You should ask yourself whether this trip is truly worth the expense or if it is something that could be replaced with a video call or conference.
Hopefully, the advice in this post will help you to make savings on your business travel. Business travel has its perks and can be a great way to conduct business, but it can also be a major expense and this could be hard to manage at a time when many are looking to cut back.