The Importance of Corporate Travel Management

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Business travel is a critical corporate travel software of many companies’ operations. In fact, travel costs often represent the second-largest expense after employee salaries and benefits. Although the spread of COVID-19 drastically cut back on business travel in 2020, it’s expected that it will rebound to some degree over the next few years. Therefore, it’s important that travel managers are able to optimize travel expenses and provide employees with the best possible trip experience.

A corporate travel management (CTM) team can help reduce costs, streamline the end-to-end travel process, and mitigate risks. They do this by sourcing the best available airline, hotel, and car rental rates. CTM teams also negotiate with all vendors and oversee the day-to-day operations of the company’s travel program. They are tasked with balancing the company’s financial goals, corporate traveler safety and security, and compliance with company policy.

The Art of Seamless Journeys: Elevating Business Travel with Corporate Travel Management

One of the most important things that companies should do is to create a comprehensive travel policy. This should include an approved booking process, how to track trips, and how to submit expenses. It’s also important to choose a payment system that works for businesses. This will eliminate the need for employees to use personal credit cards and then spend hours filing expense reports.

Lastly, the CTM team should also have an easy-to-use app that will show all trips waiting for approval. This will eliminate the need to send emails to the admin and will ensure that all of the trips are in a central location. This will keep the travel process as efficient as possible and allow employees to have more time for networking and other activities during their work trip.

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