Determining Reimbursable Travel Expenses for Employees
March 13, 2023
Innovative Travel Management Company
In 2017, $1.33 trillion was spent on company travel globally. As travel spending returns to and even surpasses pre-pandemic levels, many businesses are experiencing the complexity.
Scheduling employee travel can be an extra job that many business owners simply don’t have the time for. That’s why many businesses benefit from hiring a corporate travel agent or a travel management company (TMC).
With the prevalence of business travel in the modern market, specific agencies have developed that serve the express purpose of corporate travel. These often come in the shape of corporate travel agents or travel management companies, but there are some key differences between the two:
If you have employees that travel often, then a TMC may be in your best interest. Since they have a range of payment options allowing you to pay by trip or by the month, you may find a payment scheme that helps save money in the long term all while helping you manage your expenses through travel experts.
If you are looking for ways to make your business trips easier, then using a travel management company is the best way to go. These are only a few of the many benefits:
A key aspect of using a TMC like Telios Travel over a corporate travel agency is that we incorporate technology such as SAP Concur into the travel planning process. By using comprehensive integration, you can keep track of reporting, invoices, unused tickets, company travel policies, and more.
When employees travel across the nation and even abroad, it is essential that you do all you can to ensure their safety. Working with a travel management company can help because we are available 24/7 to answer questions, help with changing plans, and make sure everything is running smoothly. When employees are abroad, it is also vital to maintain clear communication with them.
Because corporate travel is so prevalent nowadays, it is crucial for agents to find the best prices. That is where a travel management company benefits you the most. Because we work with leading vendors on the market, we support your company in securing the best corporate discounts possible.
Finding covered parking, car services, airport lounges, and other amenities can turn into a complicated task. Rather than worry about all of that yourself as a busy business owner, you can let a TMC like Telios cover it. We are responsible for all travel-related activities, so we can easily take care of all of these things for you.
Around 400 million Americans travel for business every year, solidifying traveling for work as the new norm. Since many businesses require their employees to travel, many business owners are turning to travel management companies for their many benefits and special deals.
Investing in managed travel gives companies the peace of mind to send their employees on trips without worrying about all of the moving pieces. Using a travel management company benefits the owner and the employee with peace of mind, ensuring that your employees are safe while they travel. Adhering to business travel compliances is extremely important when dealing with company travel, and TMCs are usually well-versed in this area.
When using a TMC to book a trip, a business owner can relax as all of their employees’ needs during the trip will be taken care of. They don’t have to busy themselves with the extra tasks of planning airfare or rented transportation, lodging accommodations, or food, among many other incidentals that slip through the cracks in an internally managed trip.
A travel management company has different roles when it comes to booking business trips, each providing a unique benefit to the business owner. These roles include:
These are just a few of the crucial roles that a travel management company plays in corporate travel, and there are plenty more beneficial roles they can fill.
Aside from the planning benefits of using a travel management company, there are other incidental benefits that come your way:
Vetting the many travel management companies can be difficult, with many benefits to compare and many policies to consider fitting into your business operations. Here are eight tips on how to pick the best agency for your business travel.
There are many price comparison sites online that can help you find the best prices on travel management companies. Make sure to look at what benefit packages they offer and whether or not there’s room for adjustment. Some travel agents can even shave some money off to match a competitor’s offering.
How much you want to spend on a business trip should affect what kind of agency you choose. A three-day domestic trip may end up costing as little as $990. International trips cost an average of $2,600 per traveler. Primary costs typically include airfare, lodging, ground transport, and your daily food allowance. There may be other considerations. such as business dinners or special events to keep in mind as well.
Your business travel agency can save you time and effort when organizing a trip for multiple employees by offering connections with the hotel you’re staying at, allowing them to get special deals on rentals, food, and lodging. The included amenities are a big part of the benefits of a travel management company.
Technically speaking, a corporate travel agent does not require any kind of certification to work in their field. Although formal training is required, these training programs do not need to provide certification upon completion. Travel management companies offer the benefits of qualified staff who have gone through a certification program.
Online reviews are a great introduction to a company, but they aren’t always the most accurate measure. Most people only leave reviews when they’ve had either an exceptional experience or a very bad one. It’s difficult to find truly honest ones that list pros alongside cons. Some companies will pay people to leave false reviews that boost their overall rating. If you get recommendations from business partners or friends, you’re hearing from real people who you know and trust, filtering out false information or padded reviews.
Not all travel agencies operate the same way or have the same connections. Some agencies focus solely on promoting travel to a particular country or region, while others offer only business travel accommodations and no vacation packages. A good travel management company’s responsibilities should manage all of your corporate needs and your travel itineraries with any necessary benefits included.
Flexibility is important when booking a business trip. After all, you never know when something is going to get in the way like a hurricane or a change of date in a meeting. Your business should be able to cancel or reschedule with ease. Some travel agencies allow you to cancel up to a month in advance with a refund on your deposit. Others require you to cancel a couple of months in advance, or you lose your deposit. They should also let you change your trip online in the same time frame.
A good travel agent is there when you need them. Even with the best preparation, there may still be unexpected situations. Since you’re relying on a third party to book your trip, you want them to remain available for the entire trip.
By using a business travel agency, you’re putting your employees’ comfort and safety in another person’s hands. The last thing you want is to find out that they had a miserable time all because you trusted the wrong agency. Telios Travel provides world-class service for businesses that need to book travel wherever they need to go. We can monitor delays, get a global view of your employees, and help initiate and track communication with them. Contact us to learn more about our services and book a demo.
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