7 Ways to Save Money on Business Travel as an SME

3. Analyse Traveller Behaviour

Your travellers are one of the biggest resources you have at your disposal. The ways in which they travel, and when and where they like to do it, is invaluable information that can be used to drive big cost savings. 

Make sure to analyse the behaviours of your bookers and identify what type of tickets or reservations they are purchasing. If they are buying more expensive flexible rates, find out whether they are actually using that flexibility or if it is being used solely as a safety net. 

This analysis should apply to air, hotel, and rail bookings. For example, ensuring that hotels are booked at the same time as a flight often gives bookers the option to grab a discounted package deal which can be much more efficient and economical.

5. Introduce Approval Processes 

Getting travellers to comply with your travel programme can be tricky, especially if they think they can find it cheaper on the internet (something which we NEVER hear).

Consider introducing an approval process to ensure compliance with a travel program. Take the time to introduce rate caps for key destinations and establish methodologies for securing the best available air fares on the day of purchase. Any reservations that fall outside of policy should be sent for approval, stating the reason for non-policy adherence.

7. Utilise Airline Points Schemes

Signing up to the loyalty schemes of your most frequently used service providers can lead to significant savings alongside other brilliant perks. 

Loyalty schemes, such as British Airway’s OnBusiness or Miles & More by Lufthansa, are often overlooked when it comes to managing a travel budget. Points awarded via such schemes can quickly accumulate and minimise future travel costs.

Your TMC should be able to provide you with the ability to redeem points from a whole range of schemes, as well as track and report them as savings via your Management Information (MI) reports.