HOW TECHNOLOGY CAN REDUCE THE COSTS OF YOUR BUSINESS TRAVEL

INTRODUCTION

In the ever evolving world of technology, even the most successful businesses must embrace technology to bring customers a service fully optimised for modern life. So, just how can technology be used to help reduce costs and save time on your business travel – and more importantly – does your travel provider offer you a solution that capitalises on technology? Read on to find out more.

WHY DOES TECHNOLOGY MATTER FOR BUSINESS TRAVEL

Let’s be honest, travel managers don’t always have an easy job and it’s never made easier by chief financial officers with a business objective to reduce per-trip travel costs by 20%. To help make this task more manageable, it’s understandable that they’d use anything at their disposal – and this includes working with a travel management company (TMC) and utilising technology.

There are all kinds of technologies that can help reduce business travel cost, but one of the most important is access to a holistic piece of travel management technology that is often incorporated as part of an investment in a TMC, like us.

This kind of technology can span from data-driven tools that help with hotel booking, to assisting with expense management and improving travel policy performance and it needs to work from the moment a person makes an initial request for business travel to the moment they claim back for their expenses (and everything in between). For example, Management Information reports, like those that we create, can show information like the number of trips that are booked in or out of the travel policy, the most frequent travellers and most popular journeys as well as the most popular airlines and hotels for a business.

The reason it saves money on business travel is that it allows for a much more streamlined corporate travel process. It also facilitates cheaper and more effective booking of trains, planes, hotels and more.

Another reason technology can help, specifically for travel managers or anyone else booking business travel, is that it makes management reporting quicker and more effective.

Reporting through dashboards that are customisable, so they are tailored to the specific KPIs a business is focusing on, means reporting on the cost of business travel to C-level executives is much more streamlined. There’s no wasted time having to pull data from multiple sources then having to stitch it all together – it’s right there ready for you.

ONLINE BOOKING TOOLS TO REDUCE BUSINESS TRAVEL COST

Online booking tools can also be a great cost saver when it comes to corporate travel. Again, it’s often dependent on working with a TMC to make the most of this kind of technology.

Online and app-based travel booking platforms empower travel managers, and significantly reduce the time it takes for bookings that should be straightforward. As well as saving time, online booking tools can offer instant price comparison and agent-assisted booking integration. Another real positive of working with a booking tool like ours is that you will always be presented with a total cost. Unlike more widely used tools, such as Skyscanner which will increase in price as you click through, you will quickly see exactly what the cost of a journey will be.

Agent-assisted booking integration simply means that an agent at the TMC you are working with can help you get the best price. This could be through the close supplier relationships they have cultivated over a number of years in the industry.

EXPENSE MANAGEMENT TECHNOLOGY

Expense management software and technology can also play a crucial role in reducing business costs. The reason for this is that it makes it a lot easier to track the cost of expenses per-trip and per-person, but also that all expenses remain compliant with travel policy.

The time spent compiling expense reports is also reduced significantly as the data is captured and can be populated in a reporting dashboard like those mentioned in the point above.

Using this expense data, it is also possible to make suggestions around improving travel policy and travel policy compliance so that the costs of other future trips can be reduced.

WHATS THE BEST WAY TO REDUCE THE COST OF BUSINESS TRAVEL?

Without doubt, the overall best way to reduce the cost of business travel is to work with a travel management company like us. If you have any other concerns around the cost of your business travel, please don’t hesitate to get in touch today.

MORE BLOGS

New Year, New Mindset

New Year, New Mindset

Goodness knows this past year has been hard on everyone’s mental health and well-being, but maybe it’s now time to consider those two things more seriously from a business travel perspective, when we finally emerge from this dreadful pandemic.

read more
Brexit Baggage

Brexit Baggage

The UK’s decision to leave the European Union means travellers face bans on a wide range of goods. Many items are now prohibited from travellers’ baggage from Great Britain. Find out what you now can and can’t take in your luggage…

read more
6 Wrist Relief Products You Need at Work

6 Wrist Relief Products You Need at Work

Millions of us have turned our homes into makeshift offices by combining various items from around the house into something which resembles a workspace. But balancing a laptop on, well… your lap, for hours on end could have health implications. Allow us to offer some tips on how to avoid home office aches and pains.

read more

STAY IN THE KNOW

CONNECT WITH US

OUR PURPOSE

At the heart of everything we do are our people. We don’t just mean just our employees, but our clients and suppliers too.

At Gray Dawes Group we strive to create an environment which recognises and nurtures a healthy work/life balance – for our staff and clients alike.

By providing our customers with better travel management, they’re able to achieve what they need to by working flexibly, whether in the office, at home or around the globe.

Gray Dawes Group Alternative Logo

 

Radius Travel Member Logo