Companies have long pursued strategies to minimize employee travel costs. That means taking advantage of cost-effective airlines, negotiating better deals with preferred hotels, and booking everything far in advance to lock up lower rates. But even as business administrators work to economize corporate travel, costs continue to rise. With employee travel-related costs flying higher than ever, it’s becoming harder for companies to oversee corporate travel in a cost-effective way.
Stymied by mounting airplane, hotel and per-diem costs, today’s business travel administrators must adopt an evolved travel strategy that minimizes travel-related costs. By harnessing tech solutions like data-driven pre-trip authorization, virtualized meetings and digital wallets, businesses can adapt to a shifting traveler landscape. This adaptation will also put businesses in a good position to explore the business travel benefits of sharing economy services – which are emerging as a lucrative alternative to traditional hotel and car rentals.
To adapt to the shifting business travel landscape, companies must strategically advance their approach to travel. Runzheimer’s latest white paper, Adapting to a Shifting Business Travel Landscape, discusses specific steps businesses should take to evolve their business travel programs.