Businessmen, by the very nature of their profession, are required to travel on a regular basis. For this reason, companies need to find the best avenues of making every business trip as efficient as possible. For them to get the best value out of these trips, most companies make use of corporate credit cards, Management Information Systems (MIS), online booking engines, and travel policy as means of corporate travel management.
Corporate Credit Card. Using corporate credit card makes it possible for companies to send employees in different places even without the latter carrying a big amount of cash. This arrangement is advantageous for foreign assignments especially since exchange rate is much better than cash exchanges. In addition, using credit card makes tracking of business expenses accurate, organize and easy. A standardized, single charged card system allows the consolidation of expense information.
Management Information Systems (MIS). With the Management Information System, companies can keep a record or database of travel information (such as flight schedule, airfare, hotel reservation, and so on) that is easy to access, retrieve, and organize. Nowadays, MIS facilities are integrated with the company’s Payroll and Accounting module to make listing of expenses and reimbursement hassle-free. The source of information on corporate travel can be submitted by the employees themselves through a web-based application.
Travel policy. It pertains to the rules that guide the management of travel plans and activities of a particular company. With these rules, companies are able to budget and plan how to purchase tickets online, which hotels to book, and so forth. As a result, companies are able to make their business travels cost-efficient.
Online Booking Engines. The services offered by these search engines are much broader compared to the corporate booking tools used several years ago. This is because of the client companies’ specific needs services such as meetings management, environmental reporting, and group travel are now included in the list of suppliers, along with hotel, car rental, restaurants, package shipping, and even event tickets. The availability of wide-range of suppliers allows companies to choose the product and service that is appropriate to their needs and budget.
Even there are reputable corporate travel agents that are eager to assist companies with their needs, and even though most of these companies will seek the help of a travel agency firm for their travel needs, developing a strategic travel management is important inasmuch as it serves as the key to having standardized procedures for corporate travel.