3 Ways Travel Managers Can Reduce Corporate Expenses

Today's large corporations do business in a global market. This means that travel has become an integral part of managing a company effectively. Frequent trips to meet with customers, investors, and suppliers can begin to take a toll on a company's bottom line if these travel activities are not managed properly.

Outsourcing your travel to a company that specializes in corporate travel management can significantly reduce your expenses over time.

1. Corporate travel companies work on contract.

Many corporate travel companies work on a contract basis. Your company pays the travel management company a flat fee to handle all travel-related activities within a certain time frame.

If you were to compare the cost of this contract fee with the hourly wage you would spend to have an assistant book your travel, it is typically more affordable to work with professionals. Contract fees allow you to know exactly how much you need to include in your company's budget for travel preparation.

2. A travel manager can offer discounted rates.

Hotels, airlines, and car rental companies can partner with travel agents to become an exclusive supplier. This exclusivity typically comes with some lucrative discounts that a travel agent can pass along to his or her clients.

Outsourcing your travel planning to a specialist lets your company take advantage of these lower rates. Your travel manager can secure rates available only to travel agents for all your trips. These reduced rates can save you a significant amount of money on travel expenses each year.

3. A travel manager has booking experience.

A lot of work goes into booking transportation and lodging for a corporate trip. Overlooking even the slightest detail could result in costly delays that will inconvenience executives and potentially postpone important meetings.

Travel managers have experience booking all kinds of travel. This experience can be used to address every minute detail of your upcoming trip to ensure that you don't find yourself without access to a rental car or transportation to and from the airport at the last minute.

The booking experience of a travel manager can also eliminate the need to change your reservations after booking. Change fees can become expensive, so booking a trip correctly the first time is another way a travel manager can save your company money.

Companies that invest in corporate travel often throughout each fiscal year can reduce their travel costs by working with an experienced travel manager.