Cutting Down on Business Travel Expenses
Although advances in communications technology have significantly reduced the need for businesspeople to travel, there are still situations that require them to be physically present in other locations. As such, many businesses are still spending a substantial amount of money on traveling.
Cutting down on your company's travel costs can increase your profit margins considerably.
Use Videoconferencing and Online Meeting Services Whenever Possible
The best way to reduce travel expenses is to travel as little as possible.
It is necessary for you to travel if you need to inspect a manufacturing facility or attend a convention, but there are ways that you can conduct meetings from the comfort of your office or home.
Videoconferencing and online meeting services allow the participants of a meeting to see and speak to each other on their computers, as well as share PowerPoint presentations and files.
These systems can vary greatly in terms of audiovisual quality, participant capacity, features and price. While some videoconferencing systems come with six-figure price tags, others only cost tens of dollars a month.
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Shop Around for Flights, Hotels and Car Rentals
Flights, hotels and car rentals usually make up the largest portion of travel expenses.
You can reduce your company's travel costs significantly if you spend some time looking for the best flight, hotel and car rental deals.
To get the lowest prices on flights, you can go to airfare comparison sites such as FareCompare.com, WebJet.com.au, SkyScanner.com.au and JetAbroad.com.au.
As for hotels, you can check out sites such as Hotels.com, Booking.com and Expedia.com. Car rental comparisons can be done at WebCarHire.com, DIYCarHire.com.au and VroomVroomVroom.com.au.
After you have found the lowest prices, compare them with the prices listed in the websites of the airline, hotel and car rental company, as well as prices offered by travel agencies. Choose the cheapest options.
Book Flights in Advance
If you know exactly when you or your employees will be traveling, it is recommended that you book your air tickets as early as possible. Airlines usually offer discounts to customers who book several weeks in advance.
According to a study conducted by Corporate Traveller, businesses can reduce their air travel expenses by up to 72 percent if they book their flights three weeks in advance instead of last minute.
Look For Discounts
Some airlines, hotels and car rental companies are willing to give you corporate discounts if you let them know that you travel frequently. These discounts can help you save hundreds or thousands of dollars a year.
Travel agencies can help you get corporate discounts, and some of them may also offer you discounts of their own.
Join Frequent Flyer Programs
Another way to reduce your company's travel expenses is to join frequent flyer programs and reward schemes that are offered through credit cards.
These programs enable you to get great discounts on airfares, hotels and car rentals. If you fly frequently, you may be able to accumulate enough points to get one or two free flights a year.
By following the tips above, you can make your business travels less costly without sacrificing convenience and comfort.
About the Author
John McMalcolm has written blog posts and articles for different websites, including HotelsCheap.org and others.